Cryptocurrency market update: Singapore-based DragonEx exchange suffers cyberattack

• DragonEx revealed the news of the attack via its official Telegram channel on Monday 25.
• The DragonEX team has asked other exchanges to help in tracking and investigating the whereabouts of the funds.

A report by DragonEx, a Singapore-based cryptocurrency exchange says that it suffered a cyberattack. The exchange company did not, however, disclose figure lost in the attack.

DragonEx revealed the news of the attack via its official Telegram channel on Monday 25. The announcement stated that on Sunday, 24 March 2019, they suffered a cyberattack. Both the exchange and its users lost funds in the event. The funds were “transferred and stolen.”

On the same Sunday, the funds were stolen, DragonEX had announced that it was carrying out a systems upgrade. The exchange platform went offline and another announcement was released stating that it was “still working on the system maintenance.” After that, the exchange disclosed that it had suffered an attack. A section of the Telegram message read:

“Part of the assets were retrieved back, and we will do our best to retrieve back the rest of stolen assets.”

The announcement went ahead to say that various judicial administrations had been made aware of the attack including Estonia, Thailand, Singapore, and Hong Kong:

“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.”

The team has asked other exchanges to help in tracking and investigating the whereabouts of the funds that were sent to various wallets belong to Bitcoin (BTC), Ethereum (ETH), XRP, Litecoin (LTC), EOS and Tether (USDT).

“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.”