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Established in Singapore. No. of pairs - 34. Centralized exchange.

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The Hacking of Dragonex: What’s The New Call for Better Exchange Security Look Like?

Security breaches to online cryptocurrency exchange platforms is not new. Infact, many hackers specifically devote their time, energy and resources in targeting exchange with big assets to attack and this act calls for improved awareness and cryptographic innovations that would protect blockchain platforms from such malicious attacks. As encrypted as the blockchain system is, it […]
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DragonEX Hack Update: Exchanges Agree to Lend Support, Cyber-crime Reported with Authorities

The Singapore-based Exchange, DragonEX, was hacked earlier this week for an undisclosed amount. It has released an update about the measures taken by the Exchange and authorities to track and retrieve the stolen funds. DragonEX Crypto Exchange was hacked on Sunday, 24th March 2019. According to an announcement by DragonEX, the following steps have been taken to track the funds. Hong Kong Cyber Security and Technology Crime Investigation Bureau (SCTCB) has set a special investigation team to look into the hack. A report to the China Mainland Police has also been submitted by the Exchange. They are working conjointly with global security agencies and cryptocurrency exchanges to track the funds and the people involved in the hack. Exchanges mentioned in the announcement are Bittrex, Coinbene, Bitmart, Bitforex, and Bitfinex. The Exchange has set up new department portfolios under  The Asset Appraisal and Audit Group, Investigation and Evidence Collection Group, Public Relations Connection Group, Legal Liaison Group, and User Relationship Management Group to carry out seamless retrieval of funds. There are two possible places where the hackers can convert their cryptocurrencies: Exchanges or the black market. While the Exchanges are being tracked rigorously, global security agencies are investigating the black markets. The announcement was made three days after the attack. While no update on the status of the funds or hackers were given to the users, the Exchange seems to have taken the necessary steps to retrieve the funds. Moreover, Global Cryptocurrency Exchanges have also agreed to lend support to DragonEX to track the hacked funds. Hence, What seems like looking for a ‘needle in a haystack’ can be turned into a successful investigation with worldwide cooperation and thoughtful insight. The post DragonEX Hack Update: Exchanges Agree to Lend Support, Cyber-crime Reported with Authorities appeared first on Coingape.
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Binance Goes Good Will Hunting, Plans to Freeze All Identified Stolen Funds from DragonEx

Crypto hacks are, unfortunately, way too common. The latest company which was hacked was DragonEx, a crypto exchange from Singapore. The theft happened last Sunday, March 24, and the exchange is now trying to retrieve the funds. While some of them were retrieved, DragonEx asked other companies for help. Now, Binance responded. Changpeng Zhao has […]
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Binance exchange promises to freeze ‘identify-able stolen funds’ post DragonEx hack

DragonEx, a Singapore-based cryptocurrency exchange, was hacked on 26 March, with many users losing huge sums of their cryptocurrency assets. The exchange claimed that a part of the stolen assets was retrieved and that they were working on recovering the remaining amount. Following queries from a large number of users, Binance, the world’s largest cryptocurrency exchange, informed that they would be freezing any identify-able stolen funds from DragonEx. Binance’s statement said, “A few guys asked about DragonEx funds. As always, @binance will freeze any identify-able stolen funds. Here is a snippet of a chart produced by our internal big-date risk mgnt system yesterday. Not much funds have came to Binance this time around. Hackers learn. Stay #SAFU.” Source: Twitter Changpeng Zhao, the CEO and Founder of Binance, notified users that Binance could identify most external exchange addresses. He added that the system greatly helped in their functioning, before adding that it was not foolproof. CZ refused to name any exchanges, but said that they were sharing the available information with other exchanges. He took the opportunity to praise Binance and its efforts to strengthen internal security, while other exchanges focused on other parameters. CZ said, “While many other exchanges were busy building Futures, shorting, etc in the bear market, we focused on internal security. The not immediately visible, but key foundational stuff.” DragonEx had announced the hack and the subsequent loss of crypto-assets via their Telegram channel yesterday. The exchange said that ‘international policemen’ were looking into the matter and that they would announce the total loss soon. An admin of the channel, Joanne Long, tracked the addresses the stolen funds were transferred to. According to the data collected, the assets lost included Bitcoin [BTC], Ethereum [ETH], NEM [XEM], EOS, XRP, Ethereum Classic [ETC], NEO, ABBC, Litecoin [LTC], Bitcoin Cash [BCHABC], Stellar [XLM], Monero [XMR], Cardano [ADA], Ontology [ONT], Tron [TRX], Bytom [BTM], Asch [XAS], Icon [ICX], Qtum, and Tether [USDT]. The post Binance exchange promises to freeze ‘identify-able stolen funds’ post DragonEx hack appeared first on AMBCrypto.
AMBCrypto

Kraken Exchange Tighten Up its Security Citing DragonEx’s Hack Tale

A note from Nick Percoco, Kraken’s New Chief Security Officer reveals strict security features on Kraken Cryptocurrency exhange. Accordingly, he announced 2FA policy mandatory for its users which were optional since the launch of exchange. Kraken Announcing 2FA Obligatory Kraken is one of the largest cryptocurrency exchange which had recently appeared on Bulletins due to the discussion of Coinbase’s controversial Neutrino acquisition and an effort to resolve Quadriga’s lost funds. Nevertheless, the 2FA obligatory announcement released on March 27 via Kraken’s official blog – in fact, it was addressed by Nick Percoco, New Chief Security Officer at Kraken. We’re leveling up security with required 2FA, a new Chief Security Officer @c7five and the formation of Kraken Security Labs. Find out more here:https://t.co/51siqrDuRj — Kraken Exchange (@krakenfx) March 26, 2019 Formation of Kraken Security Labs Kraken’s latest concern towards security comes in a wake of DragonEx’s hack notice around the web. Per the announcement, the exchange is leveling up its Security measures with 2FA as Google Authenticator or YubiKey. In addition to 2FA obligatory feature, the new Chief Security Officer also unveiled ‘formation of Kraken Security Labs’. “Today, we are enhancing the client security experience by requiring the use of Two Factor Authentication (2FA).  Currently, the prompted options for 2FA are Google Authenticator and YubiKey.” Despite the bearish market situations, exchanges like DragonEx, Coincheck and others have been found hacked – such increasing cases looks like a strong sign that many market players including Kraken look beyond common security measure. The blog post further reads that more security features are in the roadmap of Kraken which will continue until 2020. The announcement further noted that; “The effort is committed to improving the security of the entire cryptocurrency ecosystem by performing vulnerability research against 3rd party products – like hardware wallets, software wallets, and other related technology – and disclosing identified issues in a way that does not jeopardize the security of the industry or our clients, but rather improve security for our clients and the world once the issues are fixed.”  What do you think about Kraken buckling up its security feature? share your opinion. The post Kraken Exchange Tighten Up its Security Citing DragonEx’s Hack Tale appeared first on Coingape.
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Following the DragonEx Hack: Can Hackers Get Away Regardless of Scrutinous KYC Requirements?

Singaporean-based cryptocurrency exchange DragonEx has officially warned its users that it has gone through a hack, this is not the first time crypto exchanges get hacked. The announcement was made on the exchange’s Telegram Channel on March 25th. Per the official release, the hackers managed to steal both users’ and platform crypto assets on March 24th. Purportedly, the breach was identified immediately, which allowed the exchange to retrieve some of the assets. According to a channel administrator on behalf of DragonEX Telegram, the exchange will take responsibility in any case. He also revealed that the appropriate authorities have already been informed of the case. Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets. Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, Hong Kong etc. and we’re assisting policemen to do investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week. A Call to Help Going further, another admin from the DragonEx exchange’s English Telegram channel identified a total of 20 wallet addresses to which the assets subject of the attack are believed to have been moved. Each one of them is seemingly corresponding to a different cryptocurrency, hence comprising 20 addresses for 20 unique digital assets, including EOS, Ripple, Bitcoin, Litecoin, and so forth. Apart from that, the admin has called “fellow” exchanges to help with the investigation and the subsequent freezing of the stolen assets. After investigation, the stolen assets from DragonEx were transferred to the following address, we earnestly request help from all our fellow exchanges and other industry strength, please help us to investigate and traced the assets, freeze them and stop the assets flow. – Reads the announcement. Changpeng Zhao, CEO at Binance, the world’s leading cryptocurrency exchange, has leaned in on the issue, outlining that Binance hasn’t received “much funds” from DragonEx-associated addresses. He also said that their systems are able “to identify most external exchange addresses.” A few guys asked about DragonEx funds. As always, @binance will freeze any identify-able stolen funds. Here is a snippet of a chart produced by our internal big-date risk mgnt system yesterday. Not much funds have came to Binance this time around. Hackers learn. Stay #SAFU. pic.twitter.com/9NYfn8zMj6 — CZ Binance (@cz_binance) March 27, 2019 Can Hackers Get Away Despite Heavy KYC Requirements of Most Exchanges? One of the pressing points to address is whether or not hackers would be able to get away with the stolen funds now that most reliable cryptocurrency exchanges have implemented particularly scrutinous Know-Your-Customer (KYC) requirements. Binance, for example, requires an ID and Address verification, while also featuring a facial recognition real-time software. In other words, they know your ID number, as well as your address and how you look like at the time you’re verifying your account. Now, we also know that they’ve implemented strong address identification systems, allowing them to “identify most external exchange addresses.” Hence, it would be increasingly hard for someone to move stolen funds through KYC-compliant cryptocurrency exchange without getting caught. The other logical alternative for hackers remains over-the-counter (OTC) trades. However, unless they have a ready-made market for their stolen crypto, this is also going to be rather challenging. A lot of the OTC trading platforms also have KYC requirements. LocalBitcoins, for example, recently announced that they have implemented new policies in order to comply with AML regulations. Of course, it’s important to note that Binance is just one of many cryptocurrency exchanges, and not all of them are so scrutinous about their security. This has proven to be especially true recently, as yet another cryptocurrency exchange got hacked in January – New Zealand’s Cryptopia. The post Following the DragonEx Hack: Can Hackers Get Away Regardless of Scrutinous KYC Requirements? appeared first on CryptoPotato.
CryptoPotato

Crypto Exchanges Under Fire: DragonEx Hacked, Coinbene Undergoes Sudden Maintenance

Singapore Exchange Loses A Mass Of Crypto Exchanges haven’t had the best start to 2019. Sure, Binance has been doing A-OK with its initial exchange offering (IEO) model, with its resident token rallying past $17, but lesser-known crypto platforms have been suffering. Earlier this year, QuadrigaCX was revealed to have ‘lost’ access to over $150 million worth of Bitcoin, Ethereum, and other assets, as Cryptopia suffered a devastating hack. This facet of the industry’s misfortune has continued, unfortunately enough. According to CoinDesk, DragonEx, a Singapore-based exchange, was hacked. The company announced this unfortunate happening via its Telegram channel, in which DragonEx’s PR staff claimed that funds of users and the platform itself were “transferred and stolen.” DragonEx has yet to divulge the exact details of the crypto assets stolen, including the type and the nominal value. However, the company did post the addresses of the assumed hackers, of which there were about 20 pertaining to a series of assets (Bitcoin, XEM, EOS, XRP, ETC, etc.). From a brief look, a minimum of 135 BTC, 500 Ether, and 4,670 LTC were forcibly yanked from the exchange’s coffers. This, for those who are wondering, racks up to ~$800,000. The full amount hacked, however, could easily be much higher than this sum. DragonEx has purportedly informed a number of local authorities, including those in Estonia, Thailand, Singapore, and Hong Kong, to the attack. Elaborating, the crypto startup wrote: “We’re assisting policemen to do investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week. It was added that the firm will “take the responsibility no matter what.” Coinbene Under Seige? This comes as Coinbene suddenly revealed it would be undergoing maintenance. A tweet from the company claims that it “upgraded the platform wallet… operations such as deposit and withdraw will be affected.” While this is a normal announcement for exchanges across the board, Coinbene’s session came straight out of left field, leading to ramping speculation. Nick Schteringard posted the below message in a bid to draw suspicion to the exchange’s Ethereum wallets, which sent out a mass of ERC-20 tokens yesterday. Some strange activity spotted on #Coinbene. Users report that #ETH wallets were hacked and attach these two addresses. https://t.co/f5NxvfscSC https://t.co/S1WnwI8CUx #bitcoin #exchange— Nick Schteringard (@schteringard) March 26, 2019 Coinbene’s ongoing imbroglio comes after Bitwise Asset Management, an American crypto-centric investment services provider, targeted the exchange in its scathing report on fake Bitcoin trading activity. As reported by Ethereum World News previously, Bitwise drew attention to “suspicious exchanges” such as the little-known CoinBene to back its report. CoinBene purportedly utilizes “trade printing” between the bid and ask prices, hinting that there could be an automated system behind much of the trades. Thus, some have concluded that this sudden period of maintenance could be the platform’s bid to rectify bots and other bad actors. Photo by Markus Spiske on Unsplash The post Crypto Exchanges Under Fire: DragonEx Hacked, Coinbene Undergoes Sudden Maintenance appeared first on Ethereum World News.
Ethereum World News

DragonEX Hack: Hacked Exchange Seeks Help From Other Exchanges To Trace Back Lost Assets

Hacks are not a good sign for the crypto industry as they deteriorate the public image of the crypto markets. While the industry is trying to eliminate these hacks with additional security measures, a new hack comes forward.  Recently Singapore based DragonEx was found hacked and the asset was assumingly moved to other exchanges forcing the management to seek help from other exchanges to trace back their asset. DragonEX asks other exchanges to freeze suspected accounts Earlier today the world of crypto was hit by the news of another hack. The telegram channel of the  Singapore-based cryptocurrency exchange DragonEx was continuously abuzz with messages that crypto asset which the exchange had under its custody belonging to itself and users were all transferred and stolen by hackers. The event happened on Sunday, March 24th and DragonEx announced the same by posting a notice on the exchange’s telegram channel which read as It had “encountered attacks from hackers” on Sunday (March 24) as a result of which “users’ crypto assets and Platform crypto assets were transferred and stolen.” Some of the stolen funds “were retrieved.” The exchange would do its best to get back the rest of the stolen assets. Authorities in Singapore and several other jurisdictions (including Estonia, Thailand, and Hong Kong) had been notified of this “cybercrime”, and the exchange is assisting the police with their investigation. All services on the platform had been suspended and the “accurate assets loss recovery situation” (meaning that the exact amount of the loss) would be announced in one week. The exchange “will take the responsibility” for the users’ losses “no matter what.” While the news of the hack was still pretty young, Joanne Long, a member of DragonEx’s customer support staff, also took the telegram channel to announce that the exchange had undertaken an investigation  and found that most of their assets were transferred to a variety of wallets including the once which were on exchanges like Huobi, Binance, Gate.io, and Bittrex. Joanne further added that “the stolen assets transferred to Huobi and gate.io are blocked already!” and requested other exchanges also to cooperate. The message read as “we earnestly request help from all our fellow exchanges and other industrial strength, please help us to investigate and traced the assets, freeze them and stop the assets flows.” The same request was put forward by fellow exchanges as well. Recently some other exchanges got invaded. Our security team monitored the hacker address at once and now we are trying to recover the stolen assets. I am here to call on all exchanges to pay attention to security construction, which is our main responsibility to users. — Michael Gan (@gan_chun) March 26, 2019 Hacks are not a healthy sign for the industry that is trying to grow out of nascency. It will require a collective effort of all the exchanges to tackle this menace of hacks. For now one can just hope DragonEx would acquire back all its lost assets and come back to normalcy with better security Will DragonEx be able to recover its lost asset? Do let us know your views on the same.   The post DragonEX Hack: Hacked Exchange Seeks Help From Other Exchanges To Trace Back Lost Assets appeared first on Coingape.
CoinGape

Singapore’s DragonEx Reports Hack, Releases Suspected Wallet Addresses

The Singapore-based cryptocurrency exchange DragonEx has announced a security breach to its users via its official Telegram channel. In the message, a company administrator revealed that the hackers stole assets belonging to both the exchange and its users.Per the message from the admin, the attack occurred on March 24, 2019, and the exchange then decided to take its servers offline under the pretense of “system maintenance/upgrade.” A day after, users were notified on Telegram that the exchange had been hacked.“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets,” the message read. “Several Judicial administrations were informed about this cybercrime case including Estonia, Thailand, Singapore, Hong Kong, etc., and we’re assisting policemen to do investigation. All platform services will be closed and the accurate assets loss recovery situation will be announced in a week.”Earlier today, the company shared the wallet addresses suspected to contain the stolen funds.The total amount of funds stolen is still unknown. However, an analysis of the Ethereum (ETH) and Bitcoin (BTC) wallet addresses provided by the company shows balances of 1,522 ETH (worth about $202,730 USD) and 135 BTC (worth about $528,855 USD), respectively.The full list of suspected wallet addresses provided by DragonEx includes those of popular exchanges including Bittrex, Huobi and Binance.DragonEx has asked for assistance from other trading platforms and wallet providers within the industry as it works to recover from the hack.“We earnestly request help from all our fellow exchanges and other industry strength, please help us to investigate and traced the assets, freeze them and stop the assets flows,” per the Telegram message listing the suspected wallet addresses.At press time, DragonEx is the 32nd largest exchange in the world by 24-hour trade volumes, trading over $180 million in the last 24 hours. This article originally appeared on Bitcoin Magazine.
Bitcoin Magazine

Crypto Exchange DragonEx Hacked: ‘Undisclosed Amount’ Stolen, Some Recovered

Singapore based company DragonEx announced Monday on its official Telegram channel that it has recently fallen prey to hacking for a currently unknown amount. “On March 24th, DragonEx has (sic) encountered attacks from hackers, our users’ crypto assets and Platform crypto assets were transferred and stolen.” The company has confirmed that some assets have already […]
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BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections

The cryptomarket is going through some good times, recovering from the sharp fall it had during 2018. The recovery of the global marketcap, and the high number of developments around cryptos and blockchain technologies has led many analysts to claim that we are close to witnessing not only a stabilization of the markets but also a bullish trend in the short term. Of all the crypto currencies on the ecosystem, BTC has always been the reference token, not only for holding the most powerful position in the top 10 but also for having the highest number of users and software developments. BTC is Having a Great Week BTC has experienced a significant price increase. After a period of constant “Bart Simpsons”, it finally seems that the most important cryptocurrency in the world broke the 5k resistance. This marks an a crucial milestone as it is a a value that could not be reached for months. However, during the last few hours BTC was curiously bullish. The token easily broke the 5.4K to flirt with the 5.6K band. If this trend continues, it could be said that BTC has been bullish for the entire past week, winning between 500 to 600 Dollars per token. BTC. 30 minute candles. After the big green candle, 5580 has become a new support Bitcoin (BTC) 1day candles. courtesy Tradingview Cardano (ADA) Also Shows Some Positive Signs Another token that has been specially bullish is Cardano (ADA) The project that promises to solve the “blockchain trilemma” experienced a a surge of about 10% in less than 24h, standing at one point almost at $0.08 per token. One of the reasons for this rise is the positive reaction of the market to the announcement by Charles Hoskinson (head of the project) saying that IOHK managed to close a an association with the Ethiopian government to popularize the use of Cardano in that region. According to Mr. Hoskinson, thanks to this partnership the Ethiopian authorities, the government will allow its citizens to use ADA to make payments as if it were fiat. Also, residents of Addis Ababa, the capital of the country, will be able to use ADA to pay for public transport services in the city. Right now, Cardano (ADA) experienced a correction that placed the token back to the support at 0.074 USD. The token then went up again to 0.075 with signs of another possible bullish trend in the short term Currently the bullish trend seems to be solid in most of the markets. The signs of a trend reversal are not strong enough to be frightened, however it is important to follow the charts, remembering that cryptocurrencies are extremely volatile. The post BTC and ADA Are Showing Positive Signs With Strong Bullruns and Weaker Corrections appeared first on Ethereum World News.
Ethereum World News

USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets

April 23rd, 2019, Frankfurt, Germany – USDX Wallet is a mobile-first instant transfers solution powered by blockchain technology. It targets crypto holders, allowing individuals to send and receive funds quickly and fee-free. It also covers the needs of an unbanked audience, and those who don’t want to pay commissions within traditional money transfer mobile apps. The USDX Wallet app guarantees multi-level security for all transactions and instant transfers of assets by username, phone number or QR code. The native blockchain used by the USDX Wallet is based on the BitShares protocol and allows 100,000 transactions per second. USDX and LHT Tokenomics The payment system has two cryptocurrencies at its core: USDX token and LHT coin. The USDX token is a stablecoin pegged to the U.S. dollar at a 1:1 ratio via a smart contract. USDX is collateralized by the system’s core cryptocurrency, LHT. The total supply of LHT is 1 billion coins. LHT coins will be released gradually to the market; only 10% of the LHT supply will be issued each year, of which 5% will be freely tradeable and 5% will be locked on the blockchain to provide 200% collateralization. Recent Developments USDX Wallet has not held any private sales or presales, as it has received a sufficiently large venture investment. Future profits of the project will come from business account fees. From December 2018 to January 2019, there was an airdrop that attracted tens of thousands of participants. At the moment, USDX Wallet has surpassed 50,000 verified accounts. For the last several months the team behind the app have been implementing integration with crypto exchanges. The first platform to list LHT will be ExMarkets exchange, with two more exchanges to come. On Exmarkets, LHT will be available in trading pairs with Bitcoin (LHT/BTC) and Ethereum (LHT/ETH). About Exmarkets ExMarkets is a digital asset exchange platform powered by the state-of-the-art trading engine developed in-house. On the exchange, ExMarkets users can trade the most popular cryptocurrencies as well as gain the chance to participate in the token sales of the most promising blockchain and crypto projects through ExMarkets Initial Exchange Offering (IEO) LaunchPad. Recently, ExMarkets was granted two operational licenses for crypto-fiat gateway and custodian service provision by the Estonian regulator making it one of the few certified players in the market. Also, ExMarkets supports EUR (SEPA transfers) deposits to the cryptocurrency exchange and is a part of the CoinStruction liquidity framework which is aggregating order-books from the most well-known cryptocurrency exchanges guaranteeing 24/7 crypto liquidity. It takes only a few minutes to set up an account; users are allowed to make deposits in Bitcoin, Ethereum, other supported cryptocurrencies, and tokens. ________________________________ For more information on USDX Wallet, visit https://usdx.cash. The free USDX Wallet app is available on Google Play and the App Store. Follow USDX Wallet on Medium, Twitter, Facebook and Telegram. ExMarkets platform https://www.exmarkets.com/. Media Contact Details Contact Name: Maria Lobanova Contact Email: mlobanova@usdx.cash Partnership Request Details Contact Email: partners@usdx.cash USDX Wallet is the source of this content. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections. Cryptocurrencies and tokens are extremely volatile. There is no guarantee of stable value, or of any value at all. Disclosure: This is a sponsored press release. The post USDX Wallet Announces Integration with First Crypto Exchange, ExMarkets appeared first on NullTX.
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