Main navigation

Hackers Beat Crypto Out of DragonEx Platform, CoinBene Allegedly Conceals Suffering Malicious Attack

Wed, 03/27/2019 - 10:44
article image
Alex Dovbnya
?‍?DragonEx, a Singapore-located crypto exchange, has confirmed it had encountered a hacker attack, the amount of lost crypto has yet to be counted
Hackers Beat Crypto Out of DragonEx Platform, CoinBene Allegedly Conceals Suffering Malicious Attack
Cover image via U.Today
Read U.TODAY on
Google News

As the week started, Singapore-headquartered crypto platform DragonEx confirmed on its Telegram channel that on Sunday it had been attacked by hackers. The amount of user funds stolen from its crypto vaults has not yet been counted.

Other exchanges involved

The attack alerted authorities in several countries apart from Singapore – Hong Kong, Estonia and Thailand. DragonEx has temporarily shut down all its services and operations.

The exchange team wrote in its Telegram channel that the company’s strategy concerning the recovery of the lost customer funds will be announced next week and that the team is prepared to do their utmost to return those funds or offer a worthy compensation.

Joanne Long, the admin of DragonEx’s official channel on Telegram, has reported that part of the crypto taken by hackers from the platform has been transferred to major regulated digital exchanges, although no particular platform names were mentioned. These exchanges follow strict KYC rules, so the DragonEx team hopes those companies will be able to assist them in search of the stolen funds.

EOS 11% Rally Leads Crypto Market Green Wave, with Nearly All Top 100 Coins Climbing Up Charts Too

DragonEx team determined to solve the case

The team of the attacked exchange emphasized several times in their Telegram announcements that they intend to take full responsibility for what happened; the primary goal is to recover the stolen crypto.

CoinBene is suspected to be hacked as well

Notably, another crypto exchange based in Singapore, CoinBene, is also suspected by users to have been hacked. Recently, CoinBene made an announcement that it would be conducting maintenance as of March 26.

Bitcoin, XRP Payments Soon Available on WhatsApp, Telegram Through New AI Wallet

However, the crypto community, seeing long delays in processing deposits sent to the platform, started tweeting angry comments, accusing the exchange of trying to conceal a hack.

Some other figures in the crypto world suspect that the exchange has suffered a hack but is trying to hide this from the public for some reason. Nick Saponaro, the CIO of the Divi Project DLT startup, tweeted that around $40 mln in crypto has been transferred from CoinBene, as per Etherscan. However, he removed the tweet soon as well.


Still, the CoinBene exchange insists that what is happening now is just regular maintenance that the platform is undergoing.


article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at