Most individuals in the cryptocurrency community are familiar with KuCoin, one of the most used trading exchange available for altcoins right now. But recently, reports surfaced that are implying their entire operation could be non-existent. The community is worried about it due to the fact that the office in Hong Kong is just a virtual office address without employees or any information about them.
According to a blog post written by Jackson Wong, KuCoin has never been reported by any Hong Kong media in the history of its existence. As he explains, KuCoin has been operating in a shady way and they have never appeared in the news and is starting to spread the message of extreme caution for trades and investors who are keeping their crypto funds on the exchange.
The user mentions that he paid a visit to their registered office that is located in the following address:
Flat/Rm A 20/F, KIU FU COMMERCIAL BLDG, 300 LOCKHART ROAD, WAN CHAI, HONG KONG.
At the same time, their directory seems to be ‘Rich Moral CPA Limited and Smart Team International Consultants Ltd.’ Additionally, Mr. Wong says that there is no information about KuCoin neither on the directory of the building nor at the entrance of their registered office.
In addition to it, Wong decided to rang the bell and talk with staff at the company operating in this place, but they told him that there was not ‘even a single person from Smart Team in there.’ He keeps explaining that at the office they have never heard about KuCoin or other crypto-related companies.
Wong thinks that they are working in Sichuan, as they have previously mentioned. The other possibility is that KuCoin is working in Hong Kong and they do not have an opened office. While this is potential to be a viable scam, it is still not all the way clear as to what is what quiet yet.
About this situation he wrote:
“I suspect they are either working back in Sichuan of China, as the previous post have mentioned, or they are working somewhere remotely at home in Hong Kong? But that can’t be right, right? It’s a hie exchange and they are only working at home? Well, I mean, they can. But they should at least have an office, right?”
It is important to mention that KuCoin.com is a website that is operated by the Hong Kong company KuCoin Co., Limited, but there is no further information on the matter.
Well, the company has been operating in the market since 2017 and has a very important team of experts working in order to support more currencies and provide security to its users. KuCoin has a very important internal risk control department and another for operational processes.
At the moment, the exchange is one of the most important in the market registering a trading volume of over $13 million dollars and more than $350 different trading pairs.
The company does not seem to be a scam, but it would be great to have more precise information about from where they operate of if they have an office or not.
In conclusion, as a friendly reminder as it stands right now this is speculation and will require further digging and research to determine whether or not the KuCoin cryptocurrency exchange is in fact running a ghost town operation or this is just community spread FUD regarding one of the more popular and actively used altcoin trading platforms.