Reason for this visit

Canada is one of the most “crypto-friendly” countries in the world, with the government actively promoting the development of the digital economy, during which cryptocurrencies, as digital assets, play a significant role. Furthermore, Canada is home to multiple well-known cryptocurrency companies. In recent years, the Canadian government has invested substantial resources and money into research and applications of cryptocurrencies and blockchain technology, including decentralized identity authentication, smart contracts, and other areas, indicating that it will continue to play a crucial role in the era of digital economy in the future. As a result, Canada becomes one of the competitive markets for global crypto exchanges. In an attempt to help investors to gain a more comprehensive understanding of current exchanges in Canada, WikiBit survey team decides to go to the country for on-site visits to local companies.

On-site visit

In this issue, the survey team went to Canada to visit cryptocurrency exchange BITCOINIACS as planned according to its regulatory address that 2451 Westhill Crt, West Vancouver, BC, Canada V7S3A5.

Guided by the provided information, the investigation team arrived at the designated location to conduct an on-site inspection of the office premises of BITCOINIACS. Prior to arrival, the team verified the geographic coordinates and surrounding environmental features of the target address. Upon reaching the site, the investigators first noted that the area was a typical upscale suburban residential neighborhood, primarily consisting of detached villas with clean, quiet streets and strong privacy protections for residents. The target property was a standalone house featuring a private front-yard swimming pool, with no commercial or office facilities in the vicinity—a stark contrast to the operational address claimed by the exchange.

The property was located within a gated community, with clear “Private Property” signage at the entrance and multiple CCTV surveillance cameras installed. The investigators attempted to approach the building to capture a full exterior view but were restricted by the tight security measures and community access controls, limiting them to distant photography from public roads. No company signage, logos, or traces of commercial activity related to BITCOINIACS were visible on the building's exterior or surrounding grounds.

The residence lacked a conventional “lobby” structure, with the villa's entrance leading directly to a private driveway. Multiple attempts to ring the doorbell and contact the occupants went unanswered. Additionally, community security personnel explicitly prohibited non-residents from entering private areas, preventing any closer inspection of the building's interior.

A thorough perimeter check revealed no corporate directory boards, floor guides, or company logos of any kind. The house's windows and doors were tightly shut, with curtains fully drawn, obstructing any view of the interior. Based on the community's characteristics, preliminary assessment suggests the address is unsuitable for commercial or office purposes.

Through the on-site investigation, it is confirmed that BITCOINIACS does not maintain a physical presence at the location.

Conclusion

The survey team went to Canada to visit cryptocurrency exchange BITCOINIACS but did not find the company at its regulatory address. This signifies that the company might just register with the address without a physical office at the place. Accordingly, investors should be meticulous in choosing the exchange.

Disclaimer

The content is for informational purposes only and shall not be taken as a final order for making a choice.