Reason for this visit

East Asia and North America (primarily the United States) are the two largest cryptocurrency trading markets in the world, accounting for approximately half of the global cryptocurrency market volume. Compared to many exchanges in East Asia, US exchanges are subject to stricter regulations, and the US is home to the world's largest cryptocurrency exchange, Coinbase. In an attempt to help investors to gain a more comprehensive understanding of current cryptocurrency exchanges in the US, 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 the US to visit cryptocurrency exchange Plubit as planned according to its regulatory address that 10424 Downing St., Northglenn, Colorado.

The investigators came to 10424 Downing Street in Northglenn of Colorado in the US for an on-site visit to the exchanges office. Located in the northern suburbs of Denver, Northglenn boasts a unique landscape characterized by a wide range of expansive residential areas with rows of neatly arranged houses, demonstrating the tranquility of the area. With the help of street direction, the survey personnel easily arrived at the destination on the street. However, what the team saw was completely different from what they expected. There was an ordinary bungalow, with no company logo and name of Plubit on the external wall. The building had no fence around it, making the view open and clear. They rang the doorbell, but no one answered.

Filled with confusion, the inspection team tried to visit the Plubit website, www.plubitex.com, and surprisingly discovered that it was inaccessible. Further verification revealed that the website had been deleted, and even the domain was up for sale, as if this once-active platform had never existed. The dual verification results, both online and offline, undoubtedly pointed to a disappointing reality.

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

Conclusion

The survey team went to the US to visit cryptocurrency exchange Plubit, but did not find the company at the regulatory address. 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.