KRYPTOSXWhite

KRYPTOS-X – TERMS OF USE

Last updated: 30 Oct 2018

Welcome to Kryptos-X! We hope you enjoy using the Platform and our Services.

If you have any questions in relation to these terms, please contact support@kryptos-x.me

1. THESE TERMS AND YOUR AGREEMENT

Kryptos-X Pte Ltd (“we”, "our" or "us") is a Singapore-registered company, with its registered address at 10 Collyer Quay, #16-01 Ocean Financial Centre, 049315.

1.1 We (and/or any of our Affiliates) offer you ("you"):

  1. the use of the Kryptos-X cryptocurrency trading platform located at https://www.kryptos-x.com/, as made available from time to time via Internet browsers or via mobile applications offered by us to you (the "Platform"); and
  2. certain services made available to you on the Platform from time to time (the "Services"),

subject to your agreement to these Terms.

1.2 These Terms of Service incorporate the following "Additional Terms" that you must comply with in your use of the Platform and our Services:

  1. Privacy Policy
  2. AML/KYC Policy

These Terms of Service and the Additional Terms are, collectively, the "Terms".

1.3 Please read these Terms carefully before accessing or using the Platform or our Services. By accessing the Platform, you agree to be legally bound by these Terms (as updated from time to time in accordance with clause 3).

2. DEFINITIONS

2.1 Defined terms in these Terms will have the meaning given to them in these Terms. In addition, these terms as used in these Terms will have the following meanings:

"Affiliate" means, with respect to an entity, any entity Controlled by or under that entity.

"AML/KYC Process" means the Kryptos-X User Due Diligence process set out in the AML/KYC Policy.

"Applicable Laws" means any laws, rules, regulations, binding standards and codes, statutory or regulatory obligations, and any other lawful and binding direction of a Governing Body applicable to the relevant party or circumstance in the context in which the term is used.

"Claim" means any claim, allegation, cause of action, proceeding, liability, suit or demand made against us.

"Control" means ownership, directly or indirectly, of more than 50 per cent of the voting securities (or other ownership interest, if not in respect of a corporation) of such person, whether by operation of law, by contract or otherwise, or the power to control the management of an entity, and "Controlled by" will be construed accordingly and "under common Control with" will, in respect of 2 or more entities, mean that those entities are each Controlled by the same entity.

"Digital Asset(s)" means a digital token that is encrypted and either:

  • is the official token used by a blockchain platform or protocol; or
  • exists on top of an existing blockchain platform or protocol.

"Governing Body" means any government authority, regulatory body or law enforcement agency (including any courts) of any jurisdiction, that has authority over us.

 “Personal Data” has the meaning given to it in our Privacy Policy.

3. CHANGES TO THESE TERMS AND THE PLATFORM

3.1 We may make changes to these Terms over time (e.g. to reflect technical improvements and changes to the Platform or our Services (e.g. to address a security threat) or applicable laws and regulations (e.g. to reflect applicable consumer rights)), so please come back and review these Terms regularly.

3.2 Where we consider that such changes are reasonably material, we will (where reasonably practicable) notify you (via direct communication to you, on this page or other means), prior to such changes becoming effective. By continuing to use the Platform or our Services after we make any changes to these Terms, you are agreeing to be bound by the revised Terms.

3.3 As we and our platform are constantly evolving, we may from time to time:

  1. add, change or remove features or services from the Platform or our Services (including in relation to whether a feature or service is free of charge or not); and/or
  2. suspend, discontinue or terminate the Platform or our Services altogether.

3.4 You agree that we may take any such actions at any time. Where we consider that any changes to the Platform or our Services or any services or features accessible within the Platform or our Services are reasonably material, we will (where reasonably practicable) notify you (via direct communication to you, on this page or other means) prior to such changes becoming effective.

4. NETWORK EVENTS IN RELATION

4.1 We are committed to using good industry practices in protecting your interests, the Platform and our Services. However:

  1. the nature of our Services and the wider Digital Assets-related industry is rapidly evolving; and
  2. we are unable to control and are not responsible for any underlying software and/or networks which support the Digital Assets.

We are unable to guarantee in any way the security, availability and quality of the Platform or our Services.  

4.2 There may from time to time be events related to the Platform and our Services that are outside our reasonable control – for example:

  1. cybersecurity or hacking incidents on the Platform;
  2. Applicable Laws or Governing Bodies banning or restricting the Platform or our Services;
  3. Digital Assets being made unavailable or rendered unusable by Third Parties;
  4. forks that dilute the value of certain Digital Assets; and
  5. other acts or omissions from third parties that affect the Platform and our Services,

any such event being a "Network Event".

4.3 You agree that we may take any action that we consider (in our sole discretion) to be necessary or required as a result of any Network Event – including the following in relation to you and our end users:

  1. halting trading, payments and withdrawals for Digital Assets;
  2. restricting your access to the Platform;
  3. discontinuing trade activity on one or more Digital Assets entirely;
  4. provide any Digital Assets or funds held by you (or us on your behalf) to a Governing Body;
  5. determine which forked version of any Digital Assets will be supported;
  6. allocate any new Digital Assets generated by any acts (e.g. forks or airdrops) entirely at our discretion; and
  7. apportion any losses of Digital Assets for end users of our Platform across all (or a certain section of) of our end users.

We are not responsible for any losses you may incur as a result of any such actions that we take. 

5. COMPLIANCE WITH APPLICABLE LAWS

5.1 We are committed to complying with Applicable Laws in relation to the Platform and our Services. We will prohibit the use of the Platform and our Services from time to time in accordance with Applicable Laws and directions from relevant Governing Bodies.

5.2 It is your responsibility to ensure that you are compliant with any Applicable Laws that you are subject to (including in your place of residence). We will not be responsible for any failure by you to do so.

6. YOUR ACKNOWLEDGMENTS IN USING THE PLATFORM AND OUR SERVICES

6.1 In using the Platform and our Services, you acknowledge and agree that:

  1. you access and use the Platform and our Services entirely at your own risk;
  2. there is a high level of risk in trading Digital Assets and you could potentially lose some or all of your funds or Digital Assets immediately or in a short period of time. You are solely responsible for:
    1. determining whether trading in Digital Assets is an appropriate action for you to take in consideration of your personal circumstances, financial situation and level of experience; and
    2. all actions you take on the Platform, including all decisions regarding the nature, value and suitability of the trading risks that you take;
  3. Digital Assets are not a legal tender issued by governments or financial institutions. We retain sole discretion in determining which (or whether any) Digital Assets may be traded on the Platform at any time;
  4. changes in any laws around the world (including any Applicable Laws to you or us) could impact the value of Digital Assets and your ability to use, transfer and exchange Digital Assets;
  5. transactions you make on the Platform are final and irreversible – e.g. you may not recover any losses you incur due to accidental or fraudulent transactions;
  6. certain Digital Assets transactions are deemed to be made when recorded on the relevant public ledger. This may not be on the date or the time that you initiate the transaction on the Platform; and
  7. the underlying protocols supporting the Digital Assets may be subject to sudden changes in operation rules (commonly known as "forks"). Forks can materially affect the value, function and availability and/or the name of your Digital Asset.

7. REGISTATION, USER ACCOUNT and ACCOUNT SECURITY

7.1 You must successfully complete the AML/KYC Process set out in our AML/KYC Policy prior to being approved by us to use the Platform and our Services. By registering with us, you authorise us (and any third party service providers appointed by us) to carry out all measures we consider necessary to verify your identity and any other information you have provided to us, including any checks required by Applicable Laws.

7.2 You will need an account with us in order to use the Platform and our Services. Your account is personal to you, and you are prohibited from gifting, lending, transferring or otherwise permitting any other person to access or use your account. Your account's name, ID and other identifiers remain our property and we can disable, reclaim and reuse these once your account is terminated or deactivated for whatever reason by either you or us.

7.3 You are responsible for:

  1. safeguarding your account details, including any passwords used to access your account and the Platform or our Services, and
  2. all use of the Platform or our Services under your account, including any purchases made and/or payment obligations arising under your account.

You must notify us immediately of any actual or suspected loss, theft, fraud, or unauthorised use of your account or password, by emailing support@kryptos-x.me. We will regard all use of your account on the Platform or our Services as being by you until you have notified us of any suspected breach and we have acknowledged your notification. We are not responsible or liable for any unauthorised use of your account.

8. FEES

8.1 The Fees applicable to your use of the Platform and our Services are set out within the Platform. We may change any Fees at any time by notification through the trading platform. If you do not accept such change to the Fees, we may be unable to provide the Platform or our Services to you.

8.2 Your use of the Platform and our Services is subject to your payment of the relevant Fees invoiced by us. We may set out further terms applying to such payments (including in relation to refunds (if any), billing arrangements and any consequences of failing to make timely payments). You must comply with all such terms in relation to your payments to us.

8.3 You agree that:

  1. you are solely responsible for all fees and taxes associated with any such payments;
  2. the Fees and availability of the Platform and our Services is subject to change at any time;
  3. we may offer you different methods of paying the Fees, and that we may:
    1. save your chosen payment method's information (e.g. credit card information) on our systems; and
    2. bill your chosen payment method for all Fees payable by you, subject to our notification to you of the payable Fees; and
  4. if any payment made via your chosen payment method is rejected, denied or returned unpaid for any reason:
    1. we may not provide you with, or suspend our provision of, the Platform or our Services to you until payment is properly processed; and
    2. you are liable to us for any fees, costs, expenses or other amounts we incur arising from such rejection, denial or return (and we may automatically charge you for such amounts).

8.4 SUBJECT TO MANDATORY APPLICABLE LAWS AND REGULATIONS, WE WILL NOT PROVIDE A REFUND OF ANY PAYMENTS MADE BY YOU TO US.

9. CONVERTING DIGITAL ASSETS TO FIAT CURRENCY (AND VICE VERSA)

9.1 As part of your use of our Services, you may occasionally hold Digital Assets on the Platform. We may from time to time offer you ways of converting your Digital Assets to fiat currency (and vice versa).

9.2 We do not guarantee the ongoing availability of such methods, and we do not guarantee that you will be able to convert your Digital Assets to fiat currency (or vice versa) at any given time.

9.3 Any rates of conversion will be as set by us from time to time, at our sole discretion.

10. THIRD PARTY WEBSITES AND CONTENT

10.1 We are not responsible for and we do not endorse, support or guarantee the lawfulness, accuracy or reliability of any content submitted to, transmitted or displayed by or linked by the Platform or our Services, including content provided by our end users or by our advertisers.

10.2 You acknowledge and agree that by using the Platform or our Services, you may be exposed to content which is inaccurate, misleading, defamatory, offensive or unlawful. Any reliance on or use of any content on or accessible from the Platform or our Services by you is at your own risk. Your use of the Platform or our Services does not give you any rights in or to any content you may access or obtain in connection with your use of the Platform or our Services.

10.3 We also do not guarantee the quality, reliability or suitability of any third party services, programs or websites provided, made available, advertised or linked through the Platform or our Services. We are not responsible for your use of or relationship with any such third parties services, programs or websites, including any payment obligations or fees that you may incur in your use of such third party services or websites.

10.4 There may be, from time to time, third party content, programs and/or services on the Platform or our Services that are subject to further terms from that third party – for examples, terms from the relevant third party that originally produced or created such content or service. You are solely responsible for reviewing and complying with any such third party terms and conditions.

10.5 We have the right to remove, at our sole discretion and without notice to you, any content, programs and/or services that are made available within the Platform or our Services.

11. INTELLECTUAL PROPERTY

11.1 Subject to your compliance with these Terms, we grant you a personal, revocable, non-assignable, non-perpetual and non-exclusive right to access and use the

11.2 You agree that you will not:

  1. deal with the Platform in any unauthorised way, including by sublicensing, renting, leasing or redistributing the Platform or any part of it;
  2. reverse engineer, copy, disassemble, derive the source code of, modify, decompile or create derivative works of the Platform or in any other way manipulate the Platform; or
  3. remove any copyright, trademark, intellectual property or proprietary rights that have been placed on the Platform.

11.3 All intellectual property rights in or to the Platform or our Services (including any content on the Platform and any future changes, enhancements, derivatives and improvements to the Platform) will continue to belong to us and our licensors. Except as expressly provided in these Terms, you will not:

  1. use our intellectual property rights, including our trademarks or product names, logos, domain names or other distinctive brand features, without our prior written consent; and
  2. otherwise suggest any form of association, approval, assurance or endorsement by us of you or any third party.

11.4 Any comments or suggestions you may provide regarding the Platform or our Services are entirely voluntary, and we will be free to use these comments and suggestions at our discretion (including using such comments to improve existing services or create new services) without any payment or other obligation to you.

11.5 You may not link to the Platform in any way, including using any APIs to access any data from the Platform, without our prior written consent. If we do make available any APIs for you use to access any data from the Platform, such use is subject to further terms as notified by us to you.

12. PROHIBITED USE

12.1 You may not use the Platform or our Services to engage in:

  1. any acts that breach or may breach any Applicable Laws;
  2. actions which interfere with the Platform, our Services or any of our infrastructure, system or data – including actions which impose an unreasonable or disproportionately large strain on the Platform, materially burden the network capacity of or cause any other nuisance to the Platform or Services (e.g. overloading, flooding, spamming and mail-bombing the Platform or using any scripts that may lead to overburdening the Platform); 
  3. testing, scanning or probing the vulnerability of any system or network or breach or circumventing any security or authentication measures relating to the Platform or our Services;
  4. actions which interfere with any of our end users, their data or private information – including sending any virus, Trojan, worm logic bomb, or other malicious or technologically harmful material;
  5. accessing or searching the Platform by any means (automated or otherwise, including by scraping, using bots or by mining data) other than through APIs that have been approved and provided by us;
  6. actions which in any way use the Platform or our Services to send altered, deceptive or false source-identifying information;
  7. gambling of any nature including bidding fee auctions, sports forecasting or odds making, contests or sweepstakes; or
  8. infringing any of our intellectual property rights.

13. PERSONAL DATA

13.1 We will comply with our Privacy Policy and Applicable Laws (including the Singapore Personal Data Protection Act 2012) in our collection, use and storage of any Personal Data provided by you to us.

13.2 Subject to our Privacy Policy and Applicable Laws in your jurisdiction, where we suspend or terminate all or part of the Platform or our Services, or where your access to the Platform or our Services is terminated by you or us, we do not guarantee that we will be able to return any of your content back to you and we may permanently delete your content without notice to you at any time after termination.

14. TERM AND TERMINATION OF THIS AGREEMENT

14.1 These Terms apply to any use by you of the Platform or our Services. We may terminate your use of the Platform or our Services at any time in accordance with this clause 13.

14.2 We may immediately (by notice to you) terminate or restrict your use of the Platform or our Services (including by terminating your account or by geo-blocking the jurisdiction in which you are based) at any time and for any (or no) reason – including if:

  1. we believe that you have breached these Terms;
  2. we reasonably believe that we are required to do so by Applicable Laws or any Governing Body; or
  3. we wish to terminate the provision of the Platform or our Services to all end users.

14.3 We may also terminate your use of the Platform or our Services if you have not used them for at least 60 consecutive days, by providing at least 7 days' notice to you via email.

14.4 Any termination of this Agreement does not affect any rights accrued by you or us prior to such termination date – including any amounts you owe us through the date of such termination.

15. TERMINATED ACCOUNT and unclaimed BALANCE

15.1 If we terminate your use of the Platform or our Services for any reason, we will also close any account that you held with us. We will treat any funds or Digital Assets held in such closed account (collectively, the "Balance") in the following manner:

  1. we will deduct any amounts (including Fees) you owe us from the Balance;
  2. any remaining Balance will be held by us for 30 days from our notification of termination to you. During this time, we will offer you an option (or options) for this Balance to be paid to you. We will not pay any Balance to you without express instructions from you;
  3. we may organise a third party to administer any unclaimed Balance (following paragraph (b)) you have with us (and you will be responsible for any fees incurred by such third party in such administering); and
  4. where any Balance is not claimed within 90 days from our notification of termination to you, we may remit the remaining Balance to any charitable organisation that we determine (at our sole discretion).

16. No advice FROM US

16.1 You acknowledge and agree that:

  1. we are not acting as your broker, agent, advisor or fiduciary in any capacity, and
  2. no information or communication whether oral or in writing which you have obtained from us (including any websites or mobile applications provided or powered by us) is to be construed as or interpreted as advice from us to you.

17. YOUR REPRESENTATIONS AND WARRANTIES

17.1 You represent and warrant, on an going basis, that:

  1. you are at least 18 years of age and have the legal and mental capacity to accept these Terms and be bound by these Terms;
  2. any information you have provided to us is true, complete and accurate in all respects and is in no way misleading;
  3. you have never been suspended or removed from the Platform;
  4. to the extent that you are acting as the authorised representative of one or more entities, that both yourself and the entities you are representing will be bound by these Terms;
  5. any Digital Assets to be used by you in connection with the Platform are either owned by you or you are validly authorised to carry out the transactions using such Digital Assets;
  6. all funds which have been or will be exchanged by you using the Platform are not nor will they be in the future, the direct or indirect proceeds of any criminal, fraudulent or otherwise illegal activity;
  7. you agree to comply with all relevant laws and regulations of the jurisdiction in which you are located, including reporting any trading activities and profits you make for taxation purposes; and
  8. you are not physically located in, nor are you a resident of any jurisdiction where the use or provision of the Platform or our Services would breach the laws, rules or regulations of such jurisdiction.

18. OUR WARRANTY AND DISCLAIMER

18.1 We warrant to you that we will provide the Platform or our Services using reasonable care and skill. Except as otherwise expressly agreed between you and us, we do not provide any service standards or technical support in relation to your use of the Platform or our Services.

18.2 Apart from the above warranty, to the extent permitted by applicable laws, the platform and our services are provided on an “as is” and “as available” basis and neither us nor any of our affiliate companies make any representation or warranty or give any undertaking in relation to the platform, our services or any data, media or other content submitted, transmitted or displayed by the platform or our services, including:

  1. Any representation, warranty or undertaking that the platform or our services will be uninterrupted, secure or error-free or free from viruses; or
  2. That the platform or our services will be of merchantable quality, fit for a particular purpose or not infringe the intellectual property rights of any person.

To the extent permitted by applicable laws, you waive any and all implied representations, warranties and undertakings in all jurisdictions.

19. LIMITATION OF LIABILITY

19.1 To the extent permitted by applicable laws, you agree that:

  1. The total the total aggregate liability of us and our affiliate companies for all claims in connection with these terms, the platform or our services arising out of any circumstances, will be limited to the greater of the following amounts:
    1. The amount that you have paid to us for your use of the platform or our services to which the claim relates in the 6 months immediately preceding the date of the most recent claim; and
    2. Usd100; and
  2. We and our affiliates, employees, directors, officers and agents will not be liable to you or any other person for any indirect, incidental, special, punitive or consequential loss or damage, whether arising in contract, equity, tort or otherwise arising out of or in connection with the platform or our services.

19.2 Nothing in these Terms exclude any statutory rights you have in any jurisdiction, to the extent they may not be excluded or waived.

20. INDEMNITY AND CLAIMS AGAINST US

20.1 You will fully indemnify and hold us and our Affiliates harmless from and against any and all Claims arising out of or in connection with:

  1. your use of the Platform or our Services; or
  2. your breach of these Terms.

20.2 You agree that we may, in its sole discretion, decide to participate in or assume exclusive control of the defence of any Claim or any negotiations for settlement of a Claim at its own expense.

20.3 No settlement of a Claim that may adversely affect our rights or obligations will be made without our prior written consent.

20.4 We reserve the right to settle any outstanding Claim by transferring funds or Digital Assets from your account at any time and without notice to you.

21. COMMUNICATION

21.1 You agree that our primary form of communication with you will be via email to the email address you provided to us upon registration. We will use this email address to send you all correspondences, including notices and receipts of your transactions carried out on the Platform.

21.2 Any notification we send to you via email will be deemed to have been validly served on you. If we receive notification that an email we send to you is undeliverable, we retain the right to suspend your account until you provide an updated and valid email address via the Platform. It is your responsibility to update us in the event that your email address changes.

22. GENERAL

22.1 Subject to Applicable Laws, these Terms sets out the entire agreement between you and us in relation to the subject matters of this Agreement – you agree that you will have no claim against us for any statement which is not explicitly set out in these Terms.

22.2 The words "include" and "including" are to be construed without limitation. An example of a particular matter does not exclude that matter's scope.

22.3 A reference to:

  1. a legislative provision or legislation is to that provision or legislation as amended, re-enacted or replaced, and includes any subsidiary legislation issued under it; and
  2. a document, agreement or policy (including these Terms) or a provision of such, is to that document, agreement or policy as amended, supplemented, replaced or novated.

22.4 The invalidity of any provision of these Terms (or parts of any provision) will not affect the validity or enforceability of any other provision (or the remaining parts of that provision).

22.5 If a court holds that we cannot enforce any part of these Terms as drafted, we may replace those terms with similar terms to the extent enforceable under applicable laws and regulations, without changing the remaining terms of these Terms.

22.6 No delay in enforcing any provision of these Terms will be construed to be a waiver of any rights under that provision.

22.7 Any rights and obligations under these Terms which by their nature should survive, including any obligations in relation to the liability of, or indemnities (if any) given by, the respective parties, will remain in effect after termination or expiration of these Terms.

22.8 No person other than you and us will have any right to enforce these Terms, whether pursuant to the Contracts (Rights of Third Parties) Act or otherwise.

22.9 You may not delegate, assign or transfer these Terms or any rights or obligations under these Terms without our prior consent. We may freely assign or transfer these Terms or our rights and obligations under these Terms, in whole or in part, without your prior consent or prior notice to you. We may freely sub-contract any part of our performance of these Terms at any time, without your prior consent or prior notice to you.

22.10 To the extent of any discrepancies between the English language version and any other language version of these Terms, the English language version will prevail.

23. Governing Law

These Terms and any dispute arising out of or in connection with the subject matter of these Terms is governed by and is to be construed in accordance with the laws of Singapore and is subject to the exclusive jurisdiction of the Singapore courts.