When you hear the name DragonEX, you might think of a thriving crypto exchange with deep liquidity, fast withdrawals, and a loyal user base. But the reality is far more complicated-and possibly dangerous. DragonEX was once promoted as a community-driven exchange targeting Asian traders, offering zero maker fees and rewards for every trade. It claimed over 300,000 verified users and even had mobile apps on Apple and Google’s stores. But today, nearly seven years after its launch, DragonEX has vanished from the radar of credible crypto sources. No volume data. No recent updates. No transparency. And worse-imposter sites are still out there, pretending to be it.
What DragonEX Actually Was
DragonEX launched in November 2017 from Singapore, but operated under an Estonian crypto license. It wasn’t just another exchange. It pushed a model called “transaction mining,” where users earned rewards just for trading. That sounded great-especially when most exchanges charged fees. DragonEX claimed 0.2% taker fees and 0% maker fees, which was rare at the time. It offered spot trading, perpetual contracts, futures, and even options-all in one place. For traders who liked derivatives, it looked like a one-stop shop. But here’s the problem: DragonEX never proved its numbers. CoinMarketCap, the most trusted source for exchange data, labeled it as an “Untracked Listing.” That means they couldn’t verify its trading volume. And if you can’t verify volume, you can’t verify legitimacy. Top exchanges like Binance or OKX publish real-time volume reports. DragonEX didn’t. It disappeared from CoinMarketCap’s tracked list around 2020, and it’s never come back.Why Transparency Matters-And Why DragonEX Failed
In crypto, transparency isn’t optional. It’s survival. Exchanges that hide their volume, security practices, or audits are red flags. DragonEX never published a single third-party audit. No details on cold storage. No breakdown of how much user funds were kept offline. That’s not just sloppy-it’s reckless. By 2020, the industry had already seen dozens of exchanges get hacked or vanish overnight. Users started demanding proof, not promises. DragonEX also failed to adapt. While Binance rolled out fiat on-ramps, Coinbase added bank transfers, and Kraken improved customer support, DragonEX stuck to crypto-only deposits and withdrawals. No USD, no EUR, no GBP. That locked out most new users. If you didn’t already own Bitcoin or Ethereum, you couldn’t easily get in. Meanwhile, regulatory pressure mounted in Asia. Singapore’s Payment Services Act in 2020 forced stricter compliance. Estonia tightened its crypto licensing rules. DragonEX didn’t respond. It went quiet.The User Reviews That Don’t Add Up
You’ll still find glowing reviews online. One says: “Instant withdrawal, completely legit.” Another calls it “the best platform ever.” But look closer. Most of these come from domains like dragonex.us.com-not the official dragonex.io. That’s not a coincidence. Imposter sites are common when a real exchange dies. Scammers grab the old name, set up a fake site, and lure in people who still remember the brand. Even on legitimate review platforms, the feedback is messy. Revain had a user say, “Their services are legit though. But I didn’t like the way I was attended to…”-and the comment cuts off. Fxmerge gave it a 1.0/5.0 rating with only two votes. One user called it “great,” but the “mysterious fund event” they praised? No one else ever explained what that was. No press release. No announcement. Just a whisper. Customer service was another issue. Multiple users reported delays in withdrawals. Some waited days. Others never got their funds back. That’s not normal. Even smaller exchanges with low volume manage withdrawals within hours. DragonEX didn’t. And with no public support channels active since 2021, there’s no one to ask.
What Happened to Its Community?
DragonEX once boasted 18 WeChat groups, 8 QQ communities, and 2 Telegram channels. That’s a lot of engagement. But archived screenshots from 2021 show those groups had gone silent. No new posts. No announcements. No moderators. Just ghosts. The “transaction mining” model, once its big selling point, became outdated fast. By 2020, most exchanges stopped rewarding trades with tokens because it created artificial volume. It was a gimmick, not a sustainable business model. DragonEX didn’t pivot. It didn’t add new features. It didn’t improve security. It just waited for users to leave.Is DragonEX Still Running?
Here’s the hard truth: DragonEX is almost certainly dead. No official shutdown notice was ever posted. No press release. No Twitter update. No blog post. That’s common with failed crypto projects-they just fade away. But the signs are everywhere:- CoinMarketCap still lists it as “Untracked” with zero volume data.
- RootData and CryptoWisser show no recent activity.
- No coverage from Cointelegraph, The Block, or Messari since 2019.
- The official website (dragonex.io) loads slowly, if at all.
- App stores no longer list the DragonEX apps.
- Imposter sites like dragonex.us.com are still active, trying to steal funds.
What to Use Instead
If you’re looking for a reliable exchange with derivatives trading, zero maker fees, and strong security, there are better options:- Binance - Largest volume, lowest fees, full derivatives suite, and transparent audits.
- Bybit - Focused on derivatives, zero maker fees, strong security, and active customer support.
- KuCoin - Good for altcoins, supports many trading pairs, and has a solid track record since 2017.
- OKX - Offers options and futures, strong compliance, and transparent volume reporting.
Final Warning
DragonEX is a cautionary tale. It looked promising. It had features. It had users. But it never built trust. And in crypto, trust is everything. If you can’t see how an exchange protects your money, you shouldn’t use it. If you can’t find recent updates, you shouldn’t assume it’s alive. And if you see a site using an old name with a new domain-run. The crypto market moves fast. Exchanges rise and fall every day. But the ones that survive are the ones that play fair. DragonEX didn’t. And now, it’s gone.Is DragonEX still operational in 2026?
No, DragonEX is not operational. It disappeared from public tracking around 2020. CoinMarketCap no longer lists its volume, its official website is unreliable, its apps are gone from app stores, and its community channels have been inactive for years. Any site claiming to be DragonEX today is likely a scam.
Why was DragonEX labeled as an 'Untracked Listing'?
CoinMarketCap labels exchanges as 'Untracked' when they fail to provide verifiable trading volume, security audits, or transparent business practices. DragonEX never published third-party audits, didn’t disclose cold storage usage, and its volume claims couldn’t be confirmed. This triggered its removal from tracked listings, which is a major red flag in the crypto industry.
Did DragonEX have real user withdrawals?
Some users reported successful withdrawals, but many others experienced delays or complete failures. The fact that withdrawal speed was mentioned as a “highlight” in reviews suggests it wasn’t reliable. If a platform’s main selling point is “instant withdrawals,” that usually means it rarely happens.
Are there fake DragonEX websites?
Yes. Sites like dragonex.us.com, dragonex.io.net, and others are impersonators. These scams mimic the old DragonEX brand to trick users into depositing funds. The official domain was dragonex.io, but even that site is now inactive or unstable. Never trust a site unless you manually typed the official URL-and even then, proceed with extreme caution.
What made DragonEX different from other exchanges?
DragonEX’s main differentiator was its “transaction mining” model-users earned rewards for trading. It also offered zero maker fees and focused on derivatives trading. But these features were not unique by 2019, and without transparency or security, they meant little. Other exchanges offered the same benefits with verified volume and real customer support.
Can I recover funds if I deposited on DragonEX?
If you deposited funds on the official DragonEX platform and it’s now inaccessible, recovery is extremely unlikely. There are no known customer support channels, no legal entity to contact, and no regulatory body overseeing its operations. If you used a fake site like dragonex.us.com, your funds are almost certainly lost. The best defense is prevention-never use unverified exchanges.
DragonEX was basically crypto’s version of a flashy pyramid scheme dressed up as a trading platform
They didn’t fail because they were bad-they failed because they were too good at pretending to be real
And now the ghosts are still haunting the internet with fake domains
Classic scam move
People still fall for it too
For real though, if an exchange doesn’t publish audits or volume data by 2019, you should’ve walked away
It’s not rocket science
Transparency isn’t optional in crypto-it’s the bare minimum
DragonEX didn’t just slip under the radar, they actively hid behind smoke and mirrors
And now we’re stuck cleaning up the mess with users still thinking it’s alive
OMG I remember using DragonEX 😭 it felt so futuristic back then-like I was part of the crypto revolution
Now I just feel so used
Why did they make it feel so personal? Like they cared?
It’s not even a scam-it’s a betrayal 🥺💔
US users better wake up
Why are we still talking about this dead Asian exchange like it matters?
It’s not even a cautionary tale-it’s a footnote
Get over it and use Binance like everyone else who isn’t living in 2018
Dear friends, let me share my experience with DragonEX
I deposited small amount in 2019, withdrew successfully twice
Then suddenly, no response from support
I did not panic, I researched, I learned
Now I only use regulated platforms with KYC and public audits
Knowledge is protection
Stay safe, stay wise
It’s funny how we romanticize these dead platforms
We call them 'cautionary tales' like they were noble failures
But they weren’t failures-they were predatory design experiments
They knew people would chase the reward model, ignore the red flags, and blame themselves when it collapsed
DragonEX didn’t just vanish-it was engineered to vanish after extracting maximum value
And now we’re still feeding the ghost with our curiosity
Let’s be honest-the entire crypto space is a graveyard of abandoned projects with glowing reviews and silent wallets
DragonEX was just one of many that had the right branding, the right timing, and the right lack of accountability
What’s more concerning isn’t that it died, but that people still search for it
That’s the real scam-the belief that something this opaque could ever be trusted
And yet, here we are, still debating its legacy like it had substance
You know what’s sad? The people who still believe in DragonEX aren’t dumb-they’re hopeful
They want to believe in something that rewards effort, that’s fair, that’s transparent
And when a platform pretends to be that thing, they cling to it
It’s not about crypto-it’s about trust
So don’t just warn them about fake sites
Help them find real ones that feel human again
Bro I still remember when DragonEX had that 24/7 live chat with real people
Now all I find is auto-responses from domains that look like typos
They didn’t just disappear-they got replaced by bots pretending to be ghosts
And the worst part? Some of those fake sites still have the same logo
It’s like a zombie website wearing a dead man’s skin
Don’t touch it
Just walk away
DragonEX was a joke wrapped in a whitepaper
Zero maker fees? Yeah right
They just inflated volume with bots and called it 'transaction mining'
CoinMarketCap didn’t track it because it was a ghost town with fake traffic
And now people are still falling for the same scam with new names
It’s not a lesson-it’s a loop
You people are overreacting
It’s just another exchange that didn’t survive the market cycle
There were hundreds like it
Why focus on DragonEX? Why not talk about BitConnect? Or OneCoin?
It’s not special
It’s just the latest ghost in the graveyard of crypto hype