WARNING: KuCoin’s Hong Kong office is empty.

[SuiMikira]

I just read about this on a Medium blog. I don't know if the information is legit or not but it's an important information and we must take care of our funds.
https://medium.com/@jacksonwong2244/warning-kucoins-hong-kong-office-is-empty-29b5cee66f36
As in the blog, there is no Kucoin office in Hong Kong and KuCoin has never been reported by any Hong Kong Media. Need some guy who live in WAN CHAI can take a visit to confirm it, Kucoin registered address Flat/Rm A 20/F, KIU FU COMMERCIAL BLDG, 300 LOCKHART ROAD, WAN CHAI, HONG KONG.

[Slow death]

KuCoin’s Hong Kong office is empty.

 

they have a volume of $ 16 599 919 and that means that there are many people who use this exchange and they occupy the position number 52 in the coinmarketcap

according to this:

First off, I have honestly never heard of this exchange in within the Hong Kong community. And secondly, if they have really 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 licence here in Hong Kong.

how the hell can kucoin have many customers? so many people who use the exchange did not question the license and their address? This is becoming very serious and scary.

KuCoin Has Never Been Reported by Any Hong Kong Media

This is a picture taken at the entrance of their alleged “office”. So where the heck is KuCoin?

we need governments to implement tough measures against exchange.

[sunsilk]

Some posted this too on facebook but someone countered and posted that it's just a FUD. Look at their telegram channel, they just moved to Singapore that's why their Hongkong office is empty.

https://blog.kucoin.com/business-development-news-update/

https://news.kucoin.com/en/kucoin-media-kit/

[Osakrita]

If this article if true, then it is worrisome considering their volume, unless they have a good explanation for this, I use Kucoin so I will stop keeping my money in their wallet

[1Referee]

how the hell can kucoin have many customers? so many people who use the exchange did not question the license and their address? This is becoming very serious and scary.

The same can be said about Yobit, Hitbtc and Cryptopia. People just don't care until they lose their money, because that's their only wake up call. The main reason these exchanges are that popular amongst noobs is that they are more likely to list absolute trash coins, and they more often than not completely disregard regulations. In other words, a perfect crypto noob environment.

we need governments to implement tough measures against exchange.

It won't help much. Instead of relying on governments people just need to grow up and understand that this isn't the right way to move forward. If Yobit is raided by whatever government, they will start another exchange repeating the whole cycle, or another shitcoin exchange pops up filling up that gap.

[LeGaulois]

Perhaps they were using the address as a virtual office, in this case, there is nothing wrong in, even the biggest companies do the same. It could be the reason then why the lady mentioned in the article) never heard of about. You can visit the building you won't find anything related to kucoin. If then they moved to Singapore it's also a reason...

[InfiniteQuant]

KuCoin is really by far one of the best exchange.
I actually wish that more instruments were available on this exchange.

Because of the bad press, I just withdraw my TFL (40k+) from KuCoin wallet just to see if they have any unusual delay....
And I got my funds in less than 5 minutes (as usual).

Seriously I wouldn't worry too much about this exchange.

I will leave for now my KCS on their wallet to enjoy the daily KCS Bonus.

They just made an official announcement about the FUD:
https://news.kucoin.com/en/the-clarifications-on-kucoin-office-locations/

And was also pretty quick to defend themselves.

[Slow death]

They just made an official announcement about the FUD:
https://news.kucoin.com/en/the-clarifications-on-kucoin-office-locations/

FUD?

Let's see what they say:

The Clarifications on KuCoin Office Locations

When someone says this:  " The Clarifications on KuCoin Office Locations "

The person may think that they will show their Office or company headquarters, but all they do is this:

This post is also available in: 简体中文 (Chinese (Simplified))

Dear KuCoin Users,

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. KuCoin has always been a global firm, with over 300 employees and four major offices in China, the Philippines, Singapore, and Thailand.

KuCoin has been growing at an incredible speed and will be growing even faster in future. We are grateful for all of the support from our community and stay tuned for some incredible news which we will release soon.

Thanks for your support!
The KuCoin Team

Let's do it by steps:

There have been rumors that KuCoin’s central office in Hong Kong is empty

they say: " rumors " so why the hell do not they show proof that they have a physical office or proof of their headquarters location?

In fact, KuCoin’s public address in Hong Kong is merely a mailing address of one of KuCoin’s many subsidiary companies.

they realize that what they are saying is that their subsidiaries are just ghost places?

KuCoin Headquarters is in Singapore

Show Proof

KuCoin has always been a global firm, with over 300 employees and four major offices in China, the Philippines, Singapore, and Thailand.

Show Proof


They just talk and do not show Proof, it just shows they're lying.

[audaciousbeing]

Perhaps they were using the address as a virtual office, in this case, there is nothing wrong in, even the biggest companies do the same. It could be the reason then why the lady mentioned in the article) never heard of about. You can visit the building you won't find anything related to kucoin. If then they moved to Singapore it's also a reason...

In the corporate world, when a business move from one location to the other, there is a procedures towards making that which include

1. You will have to notify the Register of Companies in that jurisdiction that you are operating

2. You notify the relevant tax authority for change in address because without that, it would be interpreted as wanting to evade tax liabilities that is why there is no notification about the new address.

3. There is usually a publication in a daily newspaper notifying members of the public concerning such relocation

4. When anyone gets to the old office within a period, there is always a banner signifying the relocation and even the current address that the business is now operating from.

Putting all this together, even though the business is operating in the crypto world, there is nothing saying that requirements 3 and 4 above should not be complied with couple with the news that they are not in any media to me is a signalling effect that everyone should be more careful in keeping funds with them. Again, since they are in Singapore, I believe there are several crypto lovers in that part of the world that can do a physical verification of their 'new address'.