Coineal

Image result for Coineal
Image result for Coineal

Founders: There is little to no information about the individuals that founded the ‘Coineal’ exchange. According to Cointelligence, “It was founded by a group that is made up of individuals from both China and South Korea.”

Location: According to their website, Coineal, “Has branches in China, Japan, Korea, Vietnam, Russia, etc.” ; The ‘etc’ at the end is interesting, since it is impractical for them to suggest that they are located in every country on the planet (which that implies). Specifically, they state, “As a global platform, Coineal has already set up offices in China, South Korea, and Japan”, and they also state they expect to have ‘new offices soon’ in “countries and regions including but not limited to Japan, Singapore, USA and Russia.”

Corporate Name: Coineal Global Limited

Jurisdiction: ‘Republic of Seychelles’

Address: A92, 12th Floor, №16, Jiuxianqiao Road, Chaoyang District, Beijing, Beijing 100016, China

[Note: No verified information on Coineal’s whereabouts can be sourced anywhere reliable]

Coineal Has a Robust Transaction Mining Program

Just 22 days ago from the time of writing, Coineal put up a press release on their website advertising their, ‘FN Mining Event’.

Coineal’s KYC/AML Program is a Question Mark

It is unknown whether there is any true, robust form of KYC/AML for the exchange.

There is evidence that the exchange has asked its users for KYC, but this may be a tactic to simply impede their customers from withdrawing funds from the exchange itself.

This post on Bitcointalk serves as a potent example: https://bitcointalk.org/index.php?topic=5183027.0