DragonEx halts deposits and withdrawals amid trust crisis linked to OKEx issues

The DragonEx cryptocurrency exchange has halted deposits and withdrawals of digital assets, citing a ‘trust crisis’ among users of centralised platforms amid problems at the OKEx cryptocurrency exchange. The exchange said this in its blog.

According to DragonEx’s statement, following the ‘incident with OKEx’ , customer distrust of exchanges led to withdrawals, which affected its operations.

DragonEx also recalled last year’s hack. Over that time the exchange has been unable to recover all stolen assets, and their value has risen in the meantime, the statement notes.

The platform is working on a restructuring plan. If by November 2 it fails to resume operations, the exchange will close.

Some suspect that DragonEx may have misused user funds or stored them on OKEx.

They claim hack. The timing is bullshit
Either
A.) They spent customer funds
B.) They were on okex for some reason
C.) They did get hacked but were too incompetent to notice until the well ran dry.

Also this exchange is pretty tiny. https://t.co/80rbhOSTxq

— i.am.nomad (@IamNomad) October 21, 2020

As reported by Chainalysis, the Lazarus group was responsible for the DragonEx hack in March 2019.

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