Singapore Crypto Exchange DragonEx Hacked: Can the Funds Be Recovered?
DragonEx, a crypto exchange based in Singapore, said on Tuesday that its platform has been hacked and an undisclosed amount of user funds was lost.
In its official Telegram account, the DragonEx team said that the exchange was hacked on March 24 and it alerted the authorities in Estonia, Thailand, Singapore, and Hong Kong.
The team said:
Several Judicial administrations were informed about this cyber crime case including Estonia, Thailand, Singapore, HongKong 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. For the loss caused to our users, DragonEx will take the responsibility no matter what.
Can User Funds Stored in Crypto Recovered?
According to Joanne Long, an administrator of the official Telegram account of DragonEx, the team has been able to identify the stolen funds from the exchange.
Fortunately, some of the funds were sent to Know Your Customer (KYC)-enabled and strictly regulated exchanges like Bittrex, based on the statement of Long.
Source: Telegram Account of DragonEx
