Crypto exchange platform DragonEx is reportedly rolling out a stopgap measure, to make withdrawals available again, after encountering numerous issues in October. 

Specifically, DragonEx is reportedly releasing a temporary approach for enabling crypto withdrawals. The exchange will need its clients to finalize the acquisition of  “DragonEx Withdraw Quota” tokens. One DWQ will activate the withdrawal of assets equivalent to 1 Tether (USDT). 

DragonEx executives reportedly claimed that clients can get a hold of DWQ via trading, mortgage loan, or a deposit, where whenever a withdrawal activity is carried out, the similar value of “DWQ will be consumed”. 

Per the exchange, DWQ-based withdrawals will reportedly be a temporary fix to address the current problems at DragonEx. 

DragonEx further revealed that it put the deposits and withdrawals features of every digital currencies on hold, because of a problem caused by OKEx’s ongoing withdrawal freeze. 

The exchange has reportedly been putting in resources to come up with a restructuring plan, in an attempt to bring those services back onto the platform. DragonEx spokesperson reportedly claimed that the platform will be closed should they fail to reorganize, with the deadline being November 2nd. 

“DragonEx has been actively seeking external investment recently, however, the process takes time and uncertainty exists as well. In order to shorten the waiting time, DragonEx plans to restore token withdrawal gradually through a temporary solution.”

If the platform can be profitable as usual, it will make withdrawals available regularly, removing the DWQ requirement and mechanism, as well as destroy every DWQ tokens.