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Hackers Hit DragonEx: Both Exchange and Users Suffer Losses

By Natalie Wu | March 27, 2019
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Hackers Hit DragonEx: Both Exchange and Users Suffer Losses

Cryptocurrency exchange DragonEx based in Singapore has reported that it suffered an attack from hackers on March 24, leading losses in digital assets for both its users and the exchange itself. So far, DragonEx has not disclosed exactly how much has been stolen.  

DragonEx announced on its official Telegram channel the following day that it had “immediately spotted” the attack when it happened. It also said:

“Part of the assets were retrieved, and we will do our best to retrieve the rest of the stolen assets. Several judicial administrations were informed about this cybercrime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigations. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week.”

At the time, it also said, “DragonEx will take responsibility no matter what.”

DragonEx says it has since identified 20 wallet addresses that the stolen funds were sent to and that each wallet appears to be meant to hold different crypto. Among the 20 different crypto are Bitcoin (BTC), Ethereum (ETH), EOS, Ripple (XRP), and Litecoin (LTC) as well as other market cap altcoins.

The exchange later issued an official update on its website (Mar 27), saying Hong Kong’s Cyber Security and Technology Crime Investigation Bureau has set up an investigation, and DragonEx is assisting. It has also reported the theft to police in mainland China. It added that “part of the assets are frozen but still large part of the stolen assets is still flowing fast. DragonEx will try best to retrieve more assets.”

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