The area, which can be marked off on a map by connecting Japan, Taiwan, and Yap Island, has become known as the Dragon's Triangle after a centuries-old Chinese myth. According to the myth, dragons live deep beneath the surface and their movement can suddenly churn up waves, whirlpools, thick fog, and sudden storms.
In 1950, Japanese officials declared the triangle a danger zone for shipping. In 1952, a research vessel, the Kaio Maru No. 5, sent by the Japanese government to investigate the troubled waters, vanished without a trace, and 22 crewmen and nine scientists were lost.
Like the Bermuda Triangle, the Devil's Triangle area may be volatile, subject to sudden weather changes and ocean swells not yet understood. Undersea volcanoes are believed to influence the area's sudden environmental changes. Others cite mikakunin hiko-buttai, Japanese for UFOs. (SOURCE)
The area is rife with undersea volcanoes. Islands appear and disappear regularly due to the volcanic activity. Apparently, the area got its name from the volcanic activity and resultant formations and deformations resulting from the lava flow.
Some mystery mongers claim that the Bermuda and Dragon's triangles are directly across from one another and that if you went from the center of one through the earth you'd end up in the center of the other. Even if this were true, it would have no bearing on the dangers that exist in one or the other.
Recently, some have been promoting the idea that the area is an undersea alien base and that the dragons were actually USOs, unidentified submerged objects. (SOURCE)
You can notice in the above picture that has been taken from satellite and 4 objects clearly seen in dragons triangle. You may also notice that they looks like UFO's spaceships that mostly people claims that they have seen some flying ships. The Dragon's Triangle on the opposite spot of the earth as the Bermuda Triangle. Considering the unique history of both regions it can't be coincidence. The only other places on earth that are in exact opposite locations are the Poles. (SOURCE)
The famous Japanese Utsuro bune legend of 1803 describes a box shaped hollow boat, resembling a kou-hako (incense burner). Inside was a "foreign" woman described as having unique physical characteristics. There are many collected stories and books written describing this incident. The credibility of these books have been questioned, yet it has been verified that these books were written prior to 1844, long before the modern UFO era.
Modern linguist and author Charles Berlitz made his own mark on the topic in his 1989 book, The Dragon's Triangle. Of the many missing ships recorded — ranging from small fishing boats, large 200,000-ton (181,439-metric ton) tankers, American and Japanese warships and airplanes, and Soviet nuclear missile submarines — few revealed signs of wreckage, oil slicks or flotsam. Berlitz traces UFO and USO (unidentified submerged objects) activity in this area back to the 12th century.
Many view natural environmental changes as the cause of the controversial anomalies. One of these explanations is the vast field of methane hydrates present on the bottom of the ocean in this area. Methane clathrates (methane hydrate ice) will “flash” into a gas when it rises above 64.4°F (18°C). The gas eruptions can interrupt buoyancy and can easily sink a ship, leaving no trace of debris. The gas will also explode if it comes within contact of an open flame. Other natural explanations involve agonic lines, volcanic activity and tectonic plate movement.
There has been much speculation on supernatural theories explaining the events in this region. Some have considered the region a gateway to another dimension, a parallel universe or a black hole. Atlantis technology has been suggested and of course, no conjecture would be complete without the possibility of alien involvement.
Many submit the locations of the triangles cannot be coincidental, proposing these areas were at one time polar opposites.
Whether a person's preference is in scientific explanations of natural occurring events or of supernatural theories, the Dragon's Triangle is one of the world’s most intriguing mysteries. Perhaps, as science advances and the supernatural becomes more clearly understood, the day will come when the answers will unfold in the form of a combined explanation.