Inspection Reason

As the smallest EU member, Malta is trying to turn itself, a Mediterranean island country, into one of the most crypto-friendly regions in the world by improving its policies and regulations. Many exchanges followed suit after Binance and OKEx, two of the world's top five cryptocurrency exchanges, chose Malta as their operating center. In order to help investors better understand the country’s cryptocurrency exchanges, the inspection team went to Malta for a field visit.

Inspection Process

The business visited this time is xcoex, a cryptocurrency exchange, whose address is LEVEL G (OFFICE 1/1128), QUANTUM HOUSE, 75, ABATE RIGORD STREET,TA' XBIEX.

The inspection personnel arrived at the destination, an office building called "QUANTUM HOUSE" at ABATE RIGORD STREET 75, Malta. But no logo or name of xcoex was found outside the building. In addition, the personnel could not gain access to the building because it was locked. Therefore, the visit had to be ended.

Inspection Summary

The investigators went to Malta for a visit to the cryptocurrency exchange xcoex. But its office was nowhere to find at the alleged office building, which was locked at the time. Therefore, it is impossible to confirm whether the exchange has a real business venue. Investors are advised to choose this exchange carefully.

Inspection Statement

The above content and opinions are for reference only and advised not to be taken as the basis for decision making.