The KuCoin cryptocurrency exchange platform was accused of fraudulent activities by a user and cryptocurrency enthusiast after a failed attempt to find KuCoin’s registered office address in Hong Kong. KuCoin responded a few days later.
KuCoin Accused, Responds to Allegations
KuCoin was accused of operating cryptocurrency-related activities in a fraudulent and obscure way in a Medium post published by a user who couldn’t find KuCoin’s central office in Hong Kong. The user surmised that KuCoin were in fact based in China.
Followed by several photographs proving that KuCoin was nowhere to be found at the registered address in Hong Kong, the Medium post creator warned all KuCoin users to withdraw their funds, crypto and fiat, from the exchange, predicting that after the next China crackdown “money in this exchange will be locked up.”
The rumors surrounding KuCoin spread quickly and Twitter went on to restrict KuCoin’s official account.
KuCoin responded to assertions via an official statement on their website, hoping to clarify any confusion.
KuCoin Clarifies the Issue on Hong Kong Office Location
KuCoin responded to allegations made in the recent Medium post, flagging the accusations as “rumors.”
Representatives from KuCoin have cast some light on the story regarding the KuCoin central office in Hong Kong, explaining that the address related to that office represents “merely a mailing address of one of many subsidiary companies.”
Further, in the statement, KuCoin added that the main headquarters of the exchange is located in Singapore. It states that the company is operating globally with over 300 employees in Thailand, the Philippines, China and Singapore, inviting the community to stay tuned for pending “incredible news.”