DragonEx is introducing a new method (Tokens) of withdrawal in an effort to save its business.

DragonEx cryptocurrency exchange is introducing a palliative measure to reintroduce withdrawals after some problems last month. 

According to an   official announcement on November 8, DragonEx is introducing a temporary solution to allow cryptographic withdrawals. The exchange will require your users to purchase so-called “DragonEx withdrawal quota” tokens. A DWQ will allow the withdrawal of assets in the amount of 1 Tether (USDT). 

DragonEx executives said customers can purchase DWQ through negotiation, mortgage loan or deposit. “When users make a withdrawal, the same amount of DWQ will be consumed,” says the ad.

DragonEx resumes withdrawals with a temporary internal token mechanism

According to the exchange, DWQ-based withdrawals are a temporary solution in response to ongoing issues at DragonEx.

On October 21, DragonEx said it suspended deposits and withdrawals of all digital currencies due to problems fueled by the freezing of withdrawals in progress from OKEx. The exchange is working on a restructuring plan to resume services on the platform. DragonEx officials said the platform will be shut down if they fail to successfully reorganize by November 2. In yesterday’s announcement, the exchange stated: “DragonEx has been actively looking for foreign investment recently, however, the process takes time and uncertainty also exists. To reduce waiting times, DragonEx plans to restore the withdrawal of the token gradually through a temporary solution. “

If the platform becomes profitable again, it will return regular withdrawals, eliminate the requirement and the DWQ engine, and destroy all DWQ tokens. 

The Wisdocoin contacted the DragonEx for more details, but did not receive a response until the time of publication.