- Together with the stock exchange, more than 2.4 thousand companies are registered there
- CEX often resort to this practice to circumvent legal restrictions
A small warehouse in Mildenhall, Suffolk – this is what the office of the representative office of a multibillion-dollar exchange looks like. As it turned out, Binance used a front company to register on the local market.
Yesterday, June 19, appeared on the r/Buttcoin subreddit fast with a picture of a small utility room. The author claimed that this is the office of Binance Ltd, which also confirms the legal address of the company.
Mildenhall is a small town in the east of the country about an hour and a half from London. At the address indicated in the papers, there is a one-story warehouse.
Obviously this is a sham company. But the most interesting lies elsewhere. If you enter an address in the Companies House search field, the registry will issue 2403 results.
This means that Binance shares an “office” with a couple of thousand other companies. This practice is by no means new, but you do not expect this from a global cryptocurrency exchange with a huge turnover of funds.
As it turned out, the premises belong to OfficeServ. This is a service for providing a virtual registered address, apparently to create the appearance of a legitimate business.
We previously reported that Binance is deregistering in the UK. This may be due to the fact that a number of European regulators are involved in the investigation of the platform.