In 2004 and 2005 the Macoto Cobras was head-coached by Tai-Yuan Kuo, a legendary Taiwanese pitcher who played for the Seibu Lions for 13 years. In 2005 this team competed with Sinon Bulls in the CPBL championships, but was defeated 0-4.
After the merger of Macoto Bank into Shin Kong Financial Holdings in January 2006, the Shin Kong Financial Holdings finally did not absorb the Cobras due to disagreement on purchase prices as well as its lacking willingness. So during the 2006 season it was Macoto Bank's original chairman Lin Cheng-i(林誠一) and his son, Macoto Bank's original CEO Lin Chih-kuang(林致光) who used their own money to run this team. Unable to afford such burden, after the 2006 season ended the Lins have been trying to sell this team. The Foxconn Corporation was once reportedly interested, but finally in February 2007 it was the Taoyuan-based Jiuhe(九禾) Corporation which came to the takeover agreement with the Lins. However on March 5, 2007 this takeover was disapproved by the CPBL General Managers committee. At the end of 2007 season, rumors about the team's sale again surfaced. It is announced on February 4, 2008, that dmedia System Co., Ltd. is the new owner of the team.
On October 8, 2008, T-REX CEO Shih Chien-shin was called to the local district attorney's office along with the team's general manager, spokesperson, and three other players for alleged game-fixing. On the following day, CPBL announced that it is freezing T-REX's membership pending investigation. On October 23, 2008, CPBL announced that Dmedia T-REX has been expelled from the league.