Friday, the cryptocurrency community encountered a media article that baffled many, quickly elevating ranks to the top of the encrypted Twitter environment, as it claimed that KuCoin's Hong Kong office was a fiction.
"But why did an article take such a steam?" You could ask.
Well, according to Jackson Wong, the author of that article, KuCoin's Hong Kong office was nothing but a shell, advising users to be cautious while using the popular cryptocurrency Asian exchange. Although some have been prepared to destroy this senseless FUD (fear, uncertainty and doubt), as they have seen, Wong has supported his claims with evidence and photos of the place that KuCoin has propagated as the Hong Kong site.
First, the author highlighted the previous information he had gathered about KuCoin, namely that the exchange was not operating from Hong Kong, as conflicting information made it appear. KuCoin reports that he "grew up in the house" in Hong Kong, so the fact that local contacts Wong knew they had never heard or pronounced KuCoin was suspicious to the minimum and harmful to the worst.
In the end, his curiosity the best of him, which leads him to seek the legal office of the exchange.
When he arrived at the address printed on the legal documents, he noticed that there was something bitter. Immediately seeing no sign of KuCoin, Wong checked the directory, which should be present in every respectable office building. To his surprise, there was nothing interesting on the board, without Chinese or English characters indicating that the building (or any company present) had any affiliation with KuCoin. While some considered it a mistake, the skeptic climbed to the floor where KuCoin's operations should reside, but still nothing.
In its place there was a company called Smart Team Secretarial. Trying to get to the bottom of this situation, the author turned the investigator rings the bell at the door of this firm. While the Smart Team employees were not present, a representative from another company answered the door, saying they had never heard of KuCoin or any cryptocurrency in the office building.
Remaining skeptical, the author wrote:
heck is KuCoin? WOW. So now it's clear, guys. KuCoin was never there and they lied to us all the time. Wow, really? Wtf guys.
Concluding his article, the critic KuCoin rejected the exchange, publishing the following impassioned statement:
I do not trust their exchange. They are simply too shady. They told us they have an office in Hong Kong. But is all a lie. Nobody is even there! It is completely empty. And above all, do not even have a Hong Kong license to deal with cryptocurrencies … I do not know what to recommend. I just want you to be extremely cautious when you decide to deposit money in this exchange.
Community Backlash and a Warranted Response
After the release of the apparent exposé, the official account of KuCoin Twitter has been impeached by users, resulting in a social media platform that limits the page. As a result of this widespread reaction, KuCoin responded almost immediately, issuing a short but sweet statement that highlighted why the Hong Kong office was not present.
According to the statement of the KuCoin exchange, the Hong Kong office is empty, but still used as the postal address of one of the company's subsidiaries. The statement then found that its headquarters are in Singapore and is supported by other offices in the Philippines, Thailand and China.
So, for now, this clarification seems to have put a limit on this situation, as it seems that KuCoin is doing its best to act with good intentions, but has neglected to let its users know the status of the situation. office previously.
Photo of SHUJA ZED on Unsplash