I don't think he/she is right about ZenCloud addresses. GAW can keep those coins in one wallet, accounting done via database.

As for Paybase - yes, each user has to have at least one address (I don't recall if you can generate multiple). It might even be possible to find out which ones belong to Paybase specifically - they might be all swept to the same cold wallet. However this also means that deposit addresses are likely to be empty most of the time, so going by non-zero balance alone is not a good way to gauge the number of users. Someone needs to do some blockchain sleuthing.

Having said that I wouldn't be surprised if the number of GAW/Paybase customers doesn't reach five figures. You'd think there would be a lot more outcry if they had 100k or even 10k customers seeing their "investments" decimated by 90%.