Reason for this visit

Cyprus boasts a relatively friendly cryptocurrency-related legislative environment, and currently allows cryptocurrency trading. The government has adopted an open policy to promote digital economy and increasingly strengthen the related regulation by requiring exchange platforms to implement KYC. There are a certain number of cryptocurrency exchanges and blockchain startups in Cyprus, and some merchants and enterprises have started to accept cryptocurrencies like Bitcoin as a payment method, with parts of ATMs supporting withdrawal by cryptocurrencies. In an attempt to help investors to get a more comprehensive understanding of the exchanges in Cyprus, 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 Limassol, the second largest city of Cyprus, to visit cryptocurrency exchange EUROPEFX as planned according to its regulatory address that 46 Ayiou Athanasiou Avenue, Interlink Hermes Plaza, 1st Floor, Office 101, 4102, Limassol, Cyprus.

The investigators visited 46 Ayiou Athanasiou Avenue in Limassol, Cyprus to assess the authenticity and operational scale of the exchanges office, and located the Interlink Hermes Plaza, an impressive commercial building with a well-maintained façade, in a verdant surrounding environment. Furthermore, the building is readily accessible by public transport, with its close proximity to several bus stops.

However, the search for the target company EUROPEFX yielded no results. The outdoor directory prominently displayed information about various companies operating in the building, but the name EUROPEFX was nowhere to be found. Access to the building was restricted, but after communicating with the security personnel, the inspection team received a key piece of information: EUROPEFX had not been operational for quite some time, and this address was no longer associated with it. The indoor directory also confirmed this, as office 101 on the first floor was rented by BusinessTrain, and the listed information likewise does not mention EUROPEFX. To ensure the accuracy of the information, the on-site personnel further checked the EUROPEFX website, which once again confirmed that the company has no connection to the address currently under investigation. Based on both the on-site and online verification, it is clear that there are no signs of EUROPEFX's operation at this location.

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

    Conclusion

The survey team went to Cyprus to visit cryptocurrency exchange EUROPEFX, but did not find the companys name at the aforementioned address. It denotes that the company does not have a physical business office at the place. Accordingly, investors should be meticulous in choosing the exchange.

Disclaimer

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