Cryptocurrency exchange, KuCoin, has become a reason of worry for the investors after a Hong Kong man paid a visit to its registered office address and found it’s empty. In a recent Medium post, Jackson Wong, a cryptocurrency researcher and journalist based in Hong Kong shared his experience about the visit and also shared pictures as a proof.
He was sceptical about the company and had previously shared his concerns in a Medium post published in January. At that time, he warned the readers that the exchange might not be operating from Hong Kong as they have claimed.
Therefore, this time he went on a search. KuCoin has supposedly occupied the 20th floor of Kiu Fu Commercial Building over the past few years, leased out by “Smart Team International Consultants Ltd” mentioning it as its official headquarters.
When Wong personally visited the building and asked employees that he wants to meet the Smart Team International Consultants team, he was told that Smart Team has left the building years ago. Wong wrote, “She told me that there isn’t even a single person from Smart Team in there. She told me they moved out years ago. I asked if she had ever heard of the KuCoin Exchange or any cryptocurrency related companies there. She said she had never heard of anything of such there. She said she worked at this place for couple years already.”
Wong even warns, “Since KuCoin is completely in stealth, and you couldn’t find them in their registered “office”, nor is there even a single person in their “office”, if KuCoin decides to exit scam on us — either by withholding our withdrawals or simply by shutting down their entire exchange and run with our money —we will have absolutely no recourse.”
Twitter temporarily restricted
The official Twitter handle of the exchange shows that it is temporarily restricted and reportedly it has been in that condition after Wong’s post.
However, Kucoin did respond to it in an official statement. The team of the exchange wrote, “There have been rumors that KuCoin’s central office in Hong Kong is empty. In fact, KuCoin’s public address in Hong Kong is merely a mailing address of one of KuCoin’s many subsidiary companies. KuCoin Headquarters is in Singapore.” However, it still remains unclear why would a company use the address of a building in which it was never was based in.
Image via Shutterstock
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