Binance, a major cryptocurrency exchange, has refuted claims suggesting its affiliation with a registered entity in the United Kingdom (UK).
The controversy emerged when a post on the r/buttcoin subreddit revealed a modest structure known as a “utility closet” in Mildenhall, Suffolk County, England, purportedly serving as Binance Ltd’s registered office address in the UK. Nevertheless, a representative from Binance has informed Cointelegraph that the mentioned entity is not associated with the exchange.
The address in question belongs to OfficeServ, a company that offers virtual registered address services, aiming to provide clients with a credible business location.
Google Maps confirms the site’s presence as a small and unremarkable garage building situated on the outskirts of Mildenhall, approximately ninety minutes away from London.
According to Companies House, Binance Ltd is registered to engage in “other service activities not elsewhere classified.”
Although the specifics regarding this entity, Binance Ltd, remain ambiguous, the Financial Conduct Authority in the UK has previously cautioned the public about crypto “clone” firms.
These fraudulent entities employ information from legitimate organizations to deceive potential victims into believing their authenticity.
Multiple entities incorporating “Binance” in their names can be found across various addresses throughout the UK.
The utilization of virtual “shell” addresses by technology companies has been a prevalent practice globally and within the United States for several years. Such addresses serve various purposes, including preserving privacy, concealing patent filings, or establishing businesses in tax havens.
One prominent example is the Corporation Trust Company, the largest registered agent service firm globally.
Numerous well-known companies, including Google, Walmart, Coca-Cola, and Apple, have availed themselves of its services. The company operates from an unassuming brick building in Delaware, which allows firms to maintain confidentiality.
Apple, for instance, employed the Corporation Trust Company in November of the previous year to obscure patent filings related to its recently announced Vision Pro headset and the accompanying operating system.
Another notable case involves Wyoming Corporate Services, which Reuters exposed in 2011, describing it as a “brick house” situated in a placid city and housing around 2,000 registered companies at that time.
Binance has categorically denied any connection to the entity registered at the modest address in Mildenhall,
UK. Virtual shell addresses have been utilized by technology companies worldwide to fulfill various purposes, although they have also raised concerns regarding privacy and potential fraudulent activities.
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