DragonEx crypto exchange considering shutdown amid OKEx 'crisis of trust'
DragonEx is shutting down deposits and withdrawals of all cryptos. DragonEx crypto exchange suspended deposits and withdrawals of all digital currencies on its platform due to issues triggered by OKEx’s ongoing withdrawal freeze.In an official announcement on Oct. 21, DragonEx said that the OKEx freeze triggered a “crisis of trust” in centralized exchanges among its customers, which in turn fueled a run on funds and deteriorated the platform's service.DragonEx is now working on a restructuring plan in order to resume deposits and withdrawals on the platform. The company’s representatives....
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DragonEx is introducing a new withdrawal method in an effort to save its business. Cryptocurrency exchange DragonEx is introducing a stopgap measure to reintroduce withdrawals after some problems last month. According to an official announcement on Nov. 8, DragonEx is introducing a temporary solution to allow crypto withdrawals. The exchange will require its users to acquire so-called “DragonEx Withdraw Quota” tokens. One DWQ will allow the withdrawal of assets worth 1 Tether (USDT). DragonEx executives said that customers can acquire DWQ through trading, mortgage loan, or a deposit. “When....
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Earlier this week, it was revealed that OKEx had frozen all crypto withdrawals from its platform over concerns about a private key holder. OKEx is a leading crypto-asset exchange that processes a material percentage of the spot and futures volume in the industry. OKEx said that one of its private key holders was working with […]
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