Jackson Wong, A Hong Kong Journalist Warns The Public About KuCoin Exchange

A new revelation surfaced, about one of the most prominent cryptocurrency exchanges, KuCoin, by Jackson Wong, a Hong Kong journalist that took time to investigate the physical location of the firm. Amidst the prevalence of cryptocurrency scams, hacking and ICO scams, the journalist took time out to reveal a possible fraud in the corner as he reported his findings on his page.

The Red Flag Spotted About KuCoin

KuCoin, which tagged itself as the most advanced cryptocurrency exchange to buy and sell Bitcoin, Ethereum, Litecoin, Monero, ZCash, and DigitalNote, was found to be nonexistent in physical office in Hong Kong by a Hong Kong journalist Jackson Wong that has made series of an investigation. KuCoin was founded in 2017 by CEO Michael Gan, a former technical expert of Alibaba Group’s Ant Financial.
According to the journalist the exchange is not registered with the local authority of Hong Kong, neither was anyone present at the site as he visited their office in Hong Kong but find it empty. On the license with authority, he stated that,

“First off, I have honestly never heard of this exchange in within the Hong Kong community. And secondly, if they have been in Hong Kong, the Securities and Futures Commission of Hong Kong (SFC) would already have taken a move on them and suspended their trading activities since they do not have a license here in Hong Kong. See this SFC notice for reference. It says the SFC has taken regulatory actions against 7 Hong Kong cryptocurrency exchanges:”

At his visit to their physical office in Hong Kong the place was found empty and reaching out to their neighbors to confirm their existence, the neighbors said nothing like KuCoin ever existed in that environment. In his words, he said:

“I paid a visit to their registered office. According to the companies search report here in Hong Kong, their address is at Flat/Rm A 20/F, KIU FU COMMERCIAL BLDG, 300 LOCKHART ROAD, WAN CHAI, HONG KONG.”

Wong further said about his findings from the neighbors that, “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 a couple of years already.”
The findings reveal that if the firm folded up today or there is a hack on the exchange’s platform. It would be catastrophic for those having funds in it. A similar case has taken place in Taiwan and some other places, where a crypto startup is no longer found at its location after the CEO stole funds. So be careful of where you invest.

Related posts
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTETFNewsxbtusd

Bitcoin May Never Go Below $50k Once An ETF Is Approved, Declares On-Chain Analyst

Bitcoin may never drop below $50k asserts on-chain analyst Ki-Young Ju. But as usual, there are conditions that follow this possibility. In a tweet, Ju analyzed that Bitcoin could follow the same path that gold took in 2004 when the first…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Quarterback Star Tom Brady Breaks Internet After Showing Interest In Bitcoin

Tom Brady, the American athlete who is widely regarded as the “greatest” quarterback in NFL history is the latest celebrity to show interest in the world’s most valued cryptocurrency Bitcoin. Brady who has a massive Twitter following of 1.9 million…
BitcoinBitcoin NewsbtcusdBTCUSDCBTCUSDTNewsxbtusd

Almost $200 Billion Worth Of Bitcoin Is Currently At Risk – Report Warns

A recently published 2021 crypto report by Opimas LLC, a finance-based management consultancy firm, has revealed that approximately 3,480,000 out of the world’s mined 18.5 million Bitcoin, stands vulnerable to attacks as a result of improper safekeeping. The 36-page report…