By registering to use a Cryptosx Account, you have affirmed that you are at least 18 years old and are an individual, legal person or other organisation with full legal capacity to enter into this User Agreement between you and Cryptosx. If you are not, you and your guardian shall undertake all consequences resulting from your actions and Cryptosx shall have the right to cancel or freeze your account in addition to filing claims against you and your guardian for compensation.
1. Prohibition of use
By accessing and using Cryptosx and any of its services, you acknowledge and declare that you are not on any trade or economic sanctions lists, such as the UN Security Council Sanctions list . Cryptosx maintains the right to select its markets and jurisdictions to operate and may restrict or deny its services to certain countries. The content of this Agreement shall not be excluded from the laws of the country under which the user belongs. Cryptosx maintains its stance that prohibited users are not to use or access Cryptosx and any of its services.
2. Description of services
Cryptosx provides an online digital asset trading platform (legal money to crypto) for products commonly known as cryptographic tokens, digital tokens or cryptographic currency. Cryptosx does not provide fiat trading capabilities on its platform and as such is not subjected to the stringent regulations that come with it. Cryptosx functions as a trading platform provider and is not a buyer or seller in trades made between traders. Cryptosx is also not a market maker. Traders must register and open an account with Cryptosx and deposit digital assets prior to commencement of trading. Traders may request the withdrawal of their digital assets, subject to the limitations as stated in the Terms and Conditions.
Cryptosx strives to maintain the accuracy of information posted on its website however it cannot guarantee the accuracy, suitability, reliability, completeness, performance or fitness for purpose of the content through the website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content. Information on Cryptosx website can be subjected to change without notice and is provided for the primary purpose of facilitating users to arrive at independent decisions. Cryptosx does not provide investment or advisory advice and will have no liability for the use or interpretation of information as stated in its website or other communication mediums. All users of Cryptosx must understand that there are risks involved in trading. Cryptosx encourages all users to exercise prudence and trade responsibly within their own means.
While Cryptosx emphasizes platform security to ensure the continuity and security of its services (announcements will be made in event of downtime/maintenance), it will be non-accountable to Act of God, malicious targeted hacking, terrorist attacks and other unforeseen circumstances. Cryptosx reserves the right to cancel, rollback or block transactions of all type on its platform in event of abnormal transactions. Cryptosx will not ask for any password from its users nor ask users to transfer funds that are not listed on its trading platform. Users are encouraged to exercise prudence in dealing with discounts or promotions that could lead to them getting scammed. While the list is non-exhaustive, you agree that Cryptosx will not be held responsible for any losses arising from the situations stated above.
By using Cryptosx and any of its services, you declare that all information to Cryptosx in connection with these Terms are true, accurate and complete.
Cryptosx Account Registration & Requirements
2. User Identity Verification
With registration of an account on Cryptosx, you agree to share personal information requested for the purposes of identity verification. This information is used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the Cryptosx platform. In addition to providing this information, to facilitate compliance with global industry standards for data retention, you agree to permit us to keep a record of such information for the lifetime of your account plus 5 years beyond account closing. You also authorise us to make inquiries, either directly or through third parties, that are deemed necessary to verify your identity or to protect you and/or us against financial crimes such as fraud.
The Identity Verification information we request may include, but is not limited to, your: Name, Email Address, Contact Information, Telephone Number, Username, Government Issued ID. In providing this required information, you confirm that it is accurate and authentic. Post-registration, you must guarantee that the information is truthful, complete and updated in a timely manner with any changes. If there is any reasonable doubt that any information provided by you is wrong, untruthful, outdated or incomplete, Cryptosx shall have the right to send you a notice to demand corrections, remove relevant information directly and, as the case may be, terminate all or part of Cryptosx Service to you. You shall be solely and fully responsible for any loss or expenses incurred during the use of Cryptosx Service if you cannot be reached through the contact information provided. You hereby acknowledge and agree that you have the obligation to keep all information provided up to date if there are any changes.
3. Account Usage Requirements
Cryptosx accounts can only be used by the person whose name they are registered under. Cryptosx reserves the right to suspend, freeze or cancel accounts that are used by persons other than the persons whose names they are registered under. Accordingly, Cryptosx will not take legal responsibility for these accounts.
4. Account Security
Cryptosx prioritizes maintaining the safety of those user funds entrusted to us and has implemented industry standard protections for our platform. With that said, there are account-level risks that are created by individual user actions. We request that you understand the need to independently take safety precautions to protect your own account and personal information.
You shall be solely responsible for the safekeeping of your Cryptosx account and password on your own, and you shall be responsible for all activities under your log-in email, Cryptosx account and password (including but not limited to information disclosure, information posting, consent to or submission of various rules and agreements by clicking on the website, online renewal of agreement, etc.).
You hereby agree that:
(a) you will notify Cryptosx immediately if you are aware of any unauthorized use of your Cryptosx account and password by any person or any other violations to the security rules;
(b) you will strictly observe the security, authentication, dealing, charging, withdrawal mechanism or procedures of the website/service; and
(c) you will log out from the website by taking proper steps at the end of every visit.
Cryptosx will not be responsible for any loss or consequences caused by your failure to comply with the above Account Security provision.
5. Dispute Resolution
Cryptosx reserves the right to resolve issues and disputes at its sole discretion. Some issues include infringement of others’ rights, violation of laws and regulations, abnormal trades and others not explicitly mentioned in the Terms. Users agree to bear the costs arising from the process of dispute resolution.
6. Guidelines for usage of services on Cryptosx
You hereby agree to observe the following covenants during your use of services on Cryptosx:
all the activities that you carry out during the use of Cryptosx Service will be in compliance with the requirements of applicable laws, regulations, as well as the various guidelines of Cryptosx, will not be in violation of public interests, public ethics or other’s legitimate interests, will not constitute evasion of payable taxes or fees and will not violate this agreement or relevant rules.
- using a device, software or subroutine to interfere with the site
- overloading network equipment with unreasonable data loading requests
- executing malicious sales or purchases on the market
By accessing the Cryptosx Service, you agree that Cryptosx shall have the right to unilaterally determine whether you have violated any of the above covenants and take actions to apply relevant rules without receiving your consent or giving prior notice to you. Examples of such actions include, but are not limited to:
- block and close order requests
- freezing your account
- reporting the incident to authorities
- publishing the alleged violations and actions that have been taken
- deleting any information you published that is in violation
- If your alleged violation causes any losses to a third party, you shall solely undertake all the legal liabilities in your own name and hold Cryptosx harmless from any loss, fine or extra expenses. If, due to any alleged violation Cryptosx incurs any losses, is claimed by any third party for compensation or suffers any punishment imposed by any administrative authorities, you shall indemnify Cryptosx against any losses and expense caused thereby, including reasonable attorney’s fee.
7. Service fees
Cryptosx reserves the rights to levy service fees on users who use its services. It is in the discretion of Cryptosx to adjust the service fees charged to users using its services.
a. Provision of Service
Cryptosx will provide Cryptosx Service at an “as is” and “commercially available” condition, and does not offer any form of warranty with regards to the Service’s reliability, stability, accuracy and completeness of the technology involved. Cryptosx serves merely as a venue of transactions where coin-related information can be acquired and coin-related transactions can be conducted. Cryptosx cannot control the quality, security or legality of the coin involved in any transaction, truthfulness of the transaction information, or capacity of the parties to any transaction to perform their obligations under the rules. You must carefully consider the associated investment risks, legal status and validity of the transaction information and investment decisions prior to your use of the Cryptosx Services provided.
b. Limitation of Liability
You acknowledge and agree, Cryptosx shall not be liable for any of your losses caused by any of the following events, including but not limited to:
- losses of profits, goodwill, usage or data or any other intangible losses
- use or failure to use Cryptosx Services
- unauthorised use of your account or unauthorised alteration of your data by third parties
- your misunderstanding of Cryptosx Services
- any other losses related to Cryptosx Service which are not directly attributable to Cryptosx
In no event shall Cryptosx be liable for any failure or delay of service resulting from regular network maintenance or external factors such as power failure, natural disaster, service provider-side problems or governmental acts.
You agree to indemnify and hold harmless Cryptosx, its affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of your breach or our enforcement of this Agreement. This shall also apply to your violation of any applicable law, regulation, or rights of any third party during your use of the Cryptosx Service.
Please be aware that all official announcements, news, promotions, competitions and airdrops will be listed on our website, where we urge all users to refer to regularly. Cryptosx will not be held liable or responsible in any manner of compensation should users incur personal losses arising from ignorance or negligence of the announcements.
e. Termination of Agreement
(a) the account is subject to a governmental proceeding, criminal investigation or other pending litigationWe detect unusual activity in the account
(b) we detect unauthorized access to the account
(c) we are required to do so by a court order or command by a regulatory/government authority
In case of any of the following events, Cryptosx shall have the right to directly terminate this agreement by cancelling your account, and shall have the right to permanently freeze (cancel) the authorizations of your account on Cryptosx and withdraw the corresponding Cryptosx account there of:
(a) after Cryptosx terminates services to you
(b) you allegedly register or register in any other person’s name as Cryptosx user again, directly or indirectly
(c) the main content of user’s information that you have provided is untruthful, inaccurate, outdated or incomplete
(d) when this agreement (including the rules) is amended, you expressly state and notify Cryptosx of your unwillingness to accept the amended service agreement
(e) any other circumstances where Cryptosx deems it should terminate the services
Should the account be terminated, the account & transactional information required for meeting data retention standards will be securely stored for five years. In addition, if a transaction is unfinished during the account termination process, Cryptosx shall have the right to notify your counterparty of the situation at that time.
f. Remaining funds after account termination (normal)
Once the account is closed/withdrawn, all remaining balance (which includes charges and liabilities owed to Cryptosx) on the account will be payable at once to Cryptosx. Upon payment of all outstanding charges to Cryptosx (if any), the user will have 5 working days to withdraw all funds from the account.
g. Remaining funds after account termination (fraud/AML/violation of terms)
Cryptosx maintains full custody of the funds and user data/information which may be turned over to the authorities in event of account suspension/closure arising from fraud investigations, AML investigations or violation of Cryptosx’s Terms (eg. trading on Cryptosx from a sanctioned country).
h. Compliance with local laws
It is the responsibility of the user to abide by local laws in relation to the legal usage of Cryptosx in their local jurisdiction. Users must also factor, to the extent of their local law all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of Cryptosx and any of its services acknowledge and declare that the source of their funds come from a legitimate manner and are not derived from illegal activities. Cryptosx maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, terminate the account and funds of users which are flagged out or investigated by legal mandate.
8. Keep Your Virtual and Digital Assets Safe
Cryptosx’s role is limited to providing you with a platform via the Services under which we act solely as a service provider, as your agent and in accordance with your Instructions for the management and transfer of Virtual Assets and other Digital Assets.
We do not store any Virtual Assets or other Digital Assets directly, but where you Instruct us to arrange for any Virtual Assets or other Digital Assets owned by you (including any bought on your behalf) to be held until we receive further Instruction from you to sell or transfer them (with any deposit of Digital Assets and/or Virtual Assets being deemed to be such an Instruction), we will, acting on your behalf, appoint a third-party as a custodian and to hold the relevant Virtual Assets or other Digital Assets as a custodian in accordance with our agency authority (see below).
Notwithstanding the direct custodial relationship between the custodian and you, if for any reason Cryptosx is held or declared to have any legal or beneficial interest in your Virtual Assets or other Digital Assets, Cryptosx will hold on trust for you all such right title and interest which Cryptosx is held or declared to have and will not transfer or sell any Virtual Assets or other Digital Assets other than in accordance with your Instructions (which includes any instructions mandated by law, regulatory authority or enforcement agencies).
In order for us to manage the Site, provide the Services and create a direct relationship between you and the third-party custodian to hold the relevant Virtual Assets or other Digital Assets as custodian on your behalf, you appoint Cryptosx as your agent with a perpetual and irrevocable (other than in the event of Account termination) agency authority to act as your agent to:
- Create a direct legal-custodial relationship between you and a third-party custodian for the custody of your Virtual Assets or other Digital Assets, as well as appointing authorised persons within Cryptosx to instruct such third-party custodians on your behalf
- Access and/or transfer Virtual Assets or other Digital Assets as required for the operation of the Site and provision of the Services, including:
- Storing and keeping confidential private keys in respect of Virtual Assets or other Digital Assets;
- Transferring cryptocurrencies to third-party custodians (who are entitled in turn to appoint sub-custodians and provide the custodian services to you through such sub-custodians or other nominees or agents); and
- Moving cryptocurrencies between hot and cold wallets held by these custodians to allow sufficient hot wallet liquidity to support trades on the Site whilst at the same time providing the additional security of cold wallet storage;
- Share your information with third-party custodian-service providers so that they can be engaged to provide custodian services to you (see below);
- Transfer Virtual Assets and Digital Assets to a wallet or to other users of such Virtual Assets and Digital Assets outside the Site;
- Undertake the following events that act, or could act as restrictions, or impact your rights:
- Freezing of Ripple accounts in accordance with Ripple Labs policy;
- Termination of our relationship with you and/or your Account;
- Suspension of our relationship with you and/or your Account;
- Prohibiting wash trading and other activities;
- Requiring minimum trade sizes;
- Blocking Accounts in certain circumstances;
- Applying service downtime and unavailability restrictions;
- Complying with enforcement-agency orders or regulatory actions;
- Offsetting any outstanding obligation you have to Cryptosx, which may include the sale of any Virtual Assets or other Digital Assets in order to cover the outstanding obligation you have; and
- Otherwise act only on your instructions in respect of any Virtual Assets or other Digital Assets, including in respect of:
- Any buying or selling of Virtual Assets or other Digital Assets;
- The accessing or transferring of Virtual Assets or other Digital Assets between wallets; and/or
- Any other purpose or action as instructed by you.
As a result of this limited agency relationship, we do not, and you agree that we do not, have or acquire any rights, title or interest in any Virtual Assets or other Digital Assets that are held on your behalf by the third-party custodian.
We are not an intermediary, do not acquire any rights, title or interest in, and do not assume and have no rights or control over any Virtual Assets or other Digital Assets or any other Member assets other than in respect of actions taken in accordance with our agency authority and your Instructions. As a result, we will not transfer or sell any Virtual Assets or other Digital Assets other than in accordance with your Instructions (which includes any instructions mandated by law, regulatory authority or enforcement agencies).