We investigate an excitonic peak appearing in low-temperature photoluminescence of monolayer transition metal dichalcogenides (TMDCs), which is commonly associated with defects and disorder. First, to uncover the intrinsic origin of defect-related excitons, we study their dependence on gate voltage, excitation power, and temperature in a prototypical TMDC monolayer, MoS2. We show that the entire range of behaviors of defect-related excitons can be understood in terms of a simple model, where neutral excitons are bound to ionized donor levels, likely related to sulphur vacancies, with a density of 7×10 11 cm -2 . Second, to study the extrinsic origin of defect-related excitons, we controllably deposit oxygen molecules in-situ onto the surface of MoS2 kept at cryogenic temperature. We find that in addition to trivial pdoping of 3×10 12 cm -2 , oxygen affects the formation of defect-related excitons by functionalizing the vacancy. Combined, our results uncover the origin of defect-related excitons, suggest a simple and conclusive approach to track the functionalization of TMDCs, benchmark device quality, and pave the way towards exciton engineering in hybrid organicinorganic TMDC devices.