⚡ BitForex's Supposed Hong Kong Offices Are Nothing But Facades
postedΒ 4 Mar 2024
The purported Hong Kong offices of the cryptocurrency exchange BitForex, which has recently restricted users' ability to withdraw funds, have been exposed as nothing more than vacant units situated in both industrial and tourist districts. This revelation comes from DLNews journalist Callan Quinn, who personally inspected each address provided on the company's official web pages.
According to the company registry in Hong Kong, the company was incorporated in 2018,Quinn clarified.
The investigation revealed that the first listed address is actually a facility offering virtual office services to various international businesses. The second address proved to be nonexistent, while the third, located in a tourist area, has been long abandoned. Neighbors in the vicinity reported no knowledge of BitForex or its CEO, Jason Luo.
It's worth noting that the platform positioned itself as a legitimate crypto exchange with 5 million users and employees around the world. This case underscores the critical need for investors to independently store and rigorously evaluate projects, including decentralized platforms, and prompts a reevaluation of the special permissions granted to such entities. For guidance on how to revoke these approvals, refer to our article.
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