Launched in 2017 in Singapore, DragonEx was a cryptocurrency trading platform that offered crypto-to-crypto trading services. It gained popularity through its innovative transaction-fee-mining model and a system where holders of its native token, Dragon Token (DT), received a share of the exchange's daily profits as dividends. The platform suffered a major security breach in March 2019, resulting in the loss of millions of dollars in various cryptocurrencies. Despite attempts to recover and compensate users, the exchange struggled with liquidity and user trust. In November 2020, DragonEx officially announced the suspension of all services and ceased operations, citing the 2019 hack and a subsequent industry-wide liquidity crisis as the primary reasons for its failure.