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In a recent Medium post by Hong Kong independent journalist Jackson Wong, the reliability and safety of KuCoin as a crypto exchange was called into question. In the report, titled “WARNING: KuCoin’s Hong Kong office is empty. Be extremely cautious about depositing money into this exchange,” the reporter expressed his concerns that popular crypto exchange KuCoin could be pulling an exit scam as their Hong Kong offices are empty.

Long Held Suspicious Regarding KuCoin
Wong began his report by recapping his previous concerns about the KuCoin exchange, discussing that he feared they would become illiquid during the next crypto crackdown by the Chinese government. He claimed that the exchange apparently survived the “hit” by staying under the radar.

Wong then went on to discuss that he feels that KuCoin has always been suspicious because it was home-grown in Hong Kong. Wong claimed that within the Hong Kong community he has never heard of the exchange, and that if they were ever based there that the Securities and Futures Commission of Hong Kong (SFC) would have already taken actions to suspend trading on the exchange.

In addition to the fact that the exchange has apparently avoided persecution by regulatory agencies, Wong added that he has never seen any local news reports or promotions about the exchange in Hong Kong. He also called into question the KuCoin team, saying that “none of their directors have Hong Kong names nor do any one of them reside in Hong Kong,” and that “For Chinese nationals to live in Hong Kong, they actually need either a working visa or to apply for a citizenship of Hong Kong.”

Source by:bitcoin news app