Reason for this visit
As one of the global financial centers, Hong Kong attracts a great deal of capital for cryptocurrency investment from the world, playing a significant role in bridging the gap between Chinese Mainland and the world in cryptocurrency investment. Meanwhile, with developed economy and an excellent environment for innovation, Hong Kong has released a series of policies to support the development of the related sectors including cryptocurrency and blockchain. Therefore, plenty of cryptocurrency companies/projects are becoming the popular choice for more investors, among whom the majority buy cryptocurrencies online through crypto exchanges. In order to help investors to have an overall understanding of the local exchanges, the survey team decide to pay on-site visits to them in Hong Kong.
In this issue, WikiFX investigation team went to Hong Kong, China to visit the cryptocurrency trading exchange HCOIN as planned according to the regulatory address it claims that Room 1502-90, Easey Commercial Building, 253-261 Hennessy Road, Wanchai, Hong Kong.
The survey personnel came to the destination on February 11, 2023, where a common commercial office building is situated. It can be seen that the Bank of East Asia (BEA) is located in the front of the building in a famous traditional business area in Wanchai, with convenient MTR and various public transportations. The surrounding environment is clean, tidy, and popular. There are also plenty of shops, restaurants, resident buildings and department stores.
The investigation team entered the mansion, but didn’t spot any information about HCOIN from the company directory of the building.
The survey team found room 1501-1505 from the company directory on 15/F, with no more offices like 1590. And room 1502 was being occupied by "Bsida International Business (HK) Limited”. There wasn’t any information about company HCOIN found from other company directories.
The investigators went to Hong Kong to visit the cryptocurrency trading exchange HCOIN as scheduled, but didn’t find its physical business office according to the regulatory address that the exchange displays. Therefore, the company’s regulatory information is not true. Investors are advised to stay alert to the exchange.
The content is used for informational purpose only, and shall not be taken as a final order for making a choice.
2-5 years | MSB License | Suspicious Overrun | High potential risk