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XVG · 27w

Wait, Is Kucoin A Front?

By Spencer Kellogg | @TheNewTreasury

Do you have cryptocurrency sitting in a Kucoin wallet? If you believe the accusations of one man, you might want to consider an immediate withdrawal.

In a post published to Medium late Friday evening, the allegations suggest that Kucoin’s Hong Kong offices are empty. Jackson Wong, a Hong Kong resident, had been suspicious of the cryptocurrency exchange after he looked into their board of directors and found that none of them had “Hong Kong names”. He also wondered why he had never seen any local press about one of the largest crypto exchanges in the world. When he finally tracked down the address to Kucoin’s Hong Kong headquarters, he found more unsettling news: the place was empty.

In the back of the sprawling KIU FU COMMERCIAL BUILDING, Wong was greeted at the Kucoin registered address by an employee from another company.

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 couple years already. – Jackson Wong

Twitter users were unsure of the validity of Wong’s claims. One person pointed to a press release from earlier this week that highlighted Kucoin’s international growth plans in a number of countries outside of China. Another Reddit poster suggest Wong had an axe to grind and revealed an earlier, similar post from the Medium account.

In the world of unregulated global cryptocurrency, consumers often place blanket trust in exchanges out of sheer necessity. For investors looking to purchase higher risk projects, the exchange options can be limited due to low liquidity and market legitimacy. Even larger exchanges like Poloniex and Binance have had their hiccups along the way.

Kucoin made a name for itself as a gem hunter’s paradise during the bull months of this past winter. Launching the value of coins like DragonChain, Red Pulse, Deep O...

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