Terms and Conditions

1. Terms and Conditions

1.1 [Last updated: 18 November 2018]

1.1.1 This document, further also referred to as “User Agreement”, “Terms of Use”, “Terms” is an agreement between you and the service provider, Loopex. By registering an account, or otherwise accessing or using any services made available through Loopex website (www.loopex.io) or Loopex affiliates, you agree, that you have read, understood, accepted and are bound to all of the Terms and Conditions set forth below in this agreement, and any terms expressly incorporated herein as well as our Privacy Policy.

1.1.2 As this is a legally binding contract, we encourage you to carefully read, review, and ensure that you understand these Terms and any policies or operating rules before accessing our website or any of our services.

1.1.3 By registering an account, accessing or using Loopex services, you agree to Terms and Conditions as laid out in this agreement, which supersedes any prior or contemporaneous agreements, communications and proposals, in any form, between you and Loopex (including, but not limited to, any prior versions of these Terms).

1.1.4 If you disagree with this User Agreement, please, do not register an account or otherwise access our services.

1.1.5 If you are an existing user, please initiate account delete function and stop using or accessing Loopex platform and any of our services.

1.2 Changes in the Terms and Conditions

1.2.1 Loopex, in its sole discretion reserves the right to modify, amend, delete, update or change the Terms and Conditions of this agreement and any terms expressly incorporated herein at any time without prior notice to you.

1.2.2 You will be informed about changes by receiving notice of such changes from Loopex, such as: receiving an email, receiving notice through the services, or changing the “Last updated” date at the top of this page.

1.2.3 Any and all changes to the Terms of Use will be effective immediately upon being announced on the website or released to users. As such, by continuing to access Loopex platform or use of the services, you confirm your agreement to the modified Terms and acceptance of amended rules and policies.

1.2.4 In case of questions or for clarification regarding Terms of Use, any policies or operating rules, feel free to contact us.

2. Definitions

2.1 Account(s) - one or more accounts created by a user as described in paragraph 5. Loopex account for accessing Loopex services.

2.2 Company - refers to Loopex and/or its affiliates and all references to „we“, „us“, or „our“.

2.3 Website - Loopex’s website, having its URL at: www.loopex.io.

2.4 Platform - a group of technologies and software programs owned and published by the company and/or its affiliates through website that enables users to exchange crypto-assets with other users.

2.5 Services - any services made available through website, affiliated websites, the app, and the platform.

2.6 Crypto assets – products commonly known as cryptographic/digital/crypto tokens/coins/currency/asset available or exchanged over the website, the platform, the app, or the services (including XLP Tokens).

2.7 Users - any user of the services, trader, byer, seller (all references to "you" or “your” “they” or “them” herein refer to each user).

2.8 Trade - exchange of crypto assets between Loopex users.

2.9 Wallet - One or more addresses generated on your Loopex account, which enables you to transfer crypto assets from your Loopex account to external account/wallet/address or deposit assets from external account/wallet/address to Loopex account.

2.10 XLP Tokens - cryptographic tokens available via the platform. XLP tokens are not for speculative investment and do not represent security interests of the company (or any company). XLP tokens do not represent any rights with respect to the company (or any company), including, but not limited to, any right of participation in the company’s profit distributions or decision making process. XLP tokens are sold as a functional good and all proceeds received by the company from such sales may be spent in the company’s discretion. No promises or guarantees of future performance or value are or will be made with respect to any sale of XLP tokens, including, but not limited to: any promises of intrinsic or exchange value; any promise of continuing payments; and any guarantee that XLP tokens will hold any particular value.

3. Eligibility

3.1 By registering an account on Loopex, and accessing the services, you affirm and warrant that:

3.1.1 You are of minimum legal age required by applicable law to enter binding agreement, and receive our services without parental consent;

3.1.2 You are an individual, legal person or other organization with full legal power and authority to: enter into binding contract between you and Loopex, agree to these Terms, receive any of our services and carry out all transactions initiated from your account;

3.1.3 Your account has not been previously suspended or removed from using our services or website;

3.1.4 You have reviewed and acknowledged 10. Risk Disclosure Stetement contained in these Terms, and agree to bear all the risks described therein;

3.1.5 You will not use the platform or services for any activity, which is illegal and is not compliant to applicable law. Such activities include, but are not limited to: illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, or other violent activities;

3.1.6 You are not prohibited to access and use Loopex services by any applicable law; You are not on any trade or economic sanctions lists, or any of its equivalent;

3.2 The platform and services are intended solely for users who satisfy all criterias mentioned above.

3.3 If you do not comply with requirements, you and your guardian (if there is a need for) bear obligation to undertake all consequences resulting from your actions.

3.4 Loopex shall have the right to delete or freeze your account in addition to filing claims against you and your guardian for compensation.

4. Prohibition of use for Restricted Locations

4.1 Loopex maintains the right to select its locations and markets to operate and may restrict or deny its services to users, which are citizens, or reside in certain countries.

4.2 The content of this agreement shall not be excluded from the laws of the country under which the user belongs.

4.3 You may not use the services if you are citizen or resident of any state, country, territory or other jurisdiction, where your use of the services would be illegal or otherwise violate any applicable law.

4.4 You represent and warrant that you are not a citizen or resident of any such location mentioned above (Location prohibited by Loopex; Service prohibited by applicable law) and if this is a case, you will not use or access Loopex and any of its services.

5. Loopex Account

5.1 Registration

5.1.1 Before using the site or any of Loopex services, each user must register on https://www.loopex.io and create account. For account registration, you must provide your real name, valid email address and password, as well as accept the Terms of Use and Privacy Policy.

5.1.2 You agree that Loopex, in its sole discretion, may refuse to open an account for you or to delete your account for any reason at any time. Loopex reserves the right to limit the number of accounts that any user or such user’s affiliates may create or hold.

5.2 Identity Verification Procedure

5.2.1 Depending on the functions and services, that you seek to enable on your account and for risk determination purposes, Loopex may require identity verification and other related procedures from you.

5.2.2 With account registration on Loopex, you agree to share personal information required for identity verification, if required. This information will be used specifically for the detection of money laundering, terrorist financing, fraud and other financial crimes on the Loopex platform.

5.2.3 By providing information needed for User Identity Verification, you facilitate compliance with global industry standards for data retention, in addition you agree, and give us permission to keep a record of such information for the lifetime of your account plus 5 years beyond account closing.

5.2.4 You hereby allow and authorize Loopex to request information directly or through third parties deemed necessary to verify your identity or protect you and/or us from financial crimes such as fraud, money laundering, etc.

5.2.5 Information requested for User Identity Verification may include, but is not limited to, your: Name, Email Address, Contact Information, Telephone Number, Username, Birth Date, Government Identification Number, photograph of your Government-issued ID or other photographic proof of your identity.

5.2.6 By providing this information, you confirm and warrant that it is accurate, complete, truthful and authentic. In addition, you guarantee that you will promptly update such information, if there will be any changes.

5.2.7 You may request to delete or remove any information provided by you, however, you acknowledge and agree that Loopex in its sole discretion may refuse your request or restore any previously deleted or removed information.

5.2.8 Loopex has the right to send you a notice demanding corrections, remove relevant information directly, and terminate all or part of Loopex services to you, if there is any reasonable doubt that information provided by you is incomplete, wrong, untruthful, outdated or incorrect.

5.2.9 You hereby fully acknowledge and agree that in case of any changes, you bear the obligation to keep all provided information up to date and complete.

5.2.10 If it is not possible to reach you through the contact information provided by you, you solely bear full responsibility for any loss or expenses incurred during the use of Loopex platform or any of its services.

5.2.11 Loopex will have no liability or responsibility for any permanent or temporary inability to access or use any services, which may occur as a result of any identity verification or other procedures.

5.3 Account Security Requirements

5.3.1 Loopex thrives to implement industry standard protections to platform and to maintain safety of entrusted user funds.

5.3.2 Loopex requests that each user acknowledges account-level risks, which may be created by individual user actions and each user has obligation independently maintain the security and confidentiality of their own accounts, credentials and personal information.

5.3.3 Each user must solely take responsibility for the safekeeping of their Loopex account and password, and accept all risks of any unauthorized access and of all activities carried out under their log-in email, Loopex account and password. Such activities include but are 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.

5.3.4 You hereby agree that you are responsible and will:

5.3.4.1 immediately notify Loopex if you are aware of any unauthorized access to or use of your Loopex account and password by any person, or any other breaches to the security rules;

5.3.4.2 strictly and regularly observe the security, authentication, dealing, charging, withdrawal mechanism or any other procedures of the website/service;

5.3.4.3 log out from the website by taking proper steps at the end of every visit.

5.3.5 Only the person under whose name is Loopex account registered has the right to use that account. If otherwise, Loopex reserves the right to delete or freeze suspicious accounts, accordingly, Loopex will not take legal responsibility for such accounts.

5.3.6 Loopex will not take responsibility for any loss or consequences, which will be caused by your noncompliance with the account security requirements listed above.

6. Description of services

6.1 General Conditions

6.1.1 Loopex provides services for online trading of crypto assets. Our platform does not provide trading capabilities for exchange of fiat currencies (also known as national currencies), and accordingly is not subject to restrictions, regulations or policies created for such currencies.

6.1.2 Loopex is a service provider on an online trading platform. It does not represent a buyer or seller in transactions made between users.

6.1.3 Loopex is not a market maker, broker, intermediary, agent, or advisor and has no obligation to users in connection with any decisions or activities made by them using the services or interpreting information posted on website or other communication mediums.

6.1.4 Loopex aims to maintain the accuracy of the information posted on its website. However, we cannot guarantee the accuracy, completeness, reliability, suitability or availability of content provided through the website and will not take responsibility for any loss or damage that may occur directly or indirectly from content.

6.1.5 Information on the Loopex website may be changed without prior notice to users and is primarily provided to facilitate users in making independent decisions.

6.1.6 All users of Loopex must understand that there are risks involved in trading. Loopex encourages all users to exercise prudence and trade responsibly within their own means.

6.1.7 While Loopex strives to maintain platform security to ensure the continuity and safety of its services, we will not be accountable for an force majeure, malicious targeted hacking, terrorist attacks and any other unforeseen circumstances.

6.1.8 By using Loopex platform, website and any of its services, you declare that all information provided by Loopex in connection with these Terms are true, accurate and complete.

6.2 Transactions

6.2.1 Account Funding

6.2.1.1 In order to engage in a trade you must register and open an account on Loopex and before commencement of trading, deposit crypto assets that are supported by our platform and services.

6.2.1.2 The services associated with your account also include a wallet service provided by Loopex, which will permit you to generate one or more addresses to which crypto assets may be transferred from Loopex account to external account/wallet/address not hosted or controlled by Loopex or received from external account/wallet/address to Loopex account.

6.2.1.3 We may require from you verification of control over the external account/wallet/address before enabling transfers between the applicable external account and your wallet on Loopex account.

6.2.2 Deposits

6.2.2.1 Periodically, at your sole discretion, you may transfer any crypto assets, which are supported by our services from external account to your Loopex account.

6.2.2.2 You hereby acknowledge that assets, which will not be listed on Loopex and are not supported by our platform and services, will be permanently lost.

6.2.3 Withdrawals

6.2.3.1 Traders or users may request the withdrawal of their assets, by transferring digital assets from Loopex wallet to external account/wallet/address, subject to the limitations as stated in the Terms and Conditions.

6.2.3.2 Each user bears obligation to retain on their Loopex account a sufficient quantity of assets necessary to satisfy any open order and/or applicable service fee.

6.2.3.3 We may require from you verification of external account/wallet/address to which you seek to transfer crypto assets.

6.2.3.4 In addition, Loopex may set limits on the amounts that users are able to withdraw on a daily or other periodic basis.

6.2.3.5 You hereby authorize us to use your Loopex account/wallet/address for sending tokens/coins specified by you to any external address indicated by you using the services.

6.2.3.6 Loopex is not able to reverse any transfer and will not bear any liability if you have instructed us to send assets to an address, which may be incorrect, improperly formatted, and erroneous or intended for a different type of crypto asset.

6.2.4 Trade, order, confirmation, matching, execution, cancellation, insufficient assets

6.2.4.1 Trade is an exchange of crypto assets between you and another user, whereby you dispose certain assets (owned by you) and acquire different assets, supported by Loopex platform and its services.

6.2.4.2 An order is created when you enter an instruction to effect a trade using the services.

6.2.4.3 When you create an order, you authorize Loopex to execute transaction for all or a portion of the number of tokens/coins specified in your order in accordance with such order.

6.2.4.4 You agree to pay Loopex any applicable fees for the services, and give us authorization to deduct such fees from your owned crypto currencies.

6.2.4.5 Before placing final order on the market, a confirmation dialog box will be generated and displaing and summarizing the details of transaction, including: type and amount of crypto assets you are willing to dispose of; the type and amount of crypto assets that you are willing to receive in exchange for your tokens/coins; estimated fees in case of execution of entire order, and the total number and type of crypto assets that will be transferred out from your Loopex wallet in case of entire order execution.

6.2.4.6 Upon your confirmation, the order will be placed on the platform.

6.2.4.7 Notwithstanding the foregoing, you agree that the failure of providing such order summary/confirmation shall not invalidate any order submitted by you or any completed transaction based on such order.

6.2.4.8 After order placement, your Loopex account will be updated to reflect the open order and your order will be added to Loopex order list for matching with other users' orders.

6.2.4.9 Once all or a portion of your order matches other user's order, the trade/exchange transaction will be executed, and your Loopex account will be updated to reflect that the order has either been closed due to having been fully executed, or updated to reflect any partial fulfillment. Orders will remain open until full execution, or will be cancelled in accordance with paragraphs below.

6.2.4.10 For purposes of effective trading, you authorize us to take temporary control of crypto-assets that you are disposing of in the trade transactions.

6.2.4.11 You may initiate order cancellation if such cancellation occurs before matching of your order with another user's order.

6.2.4.12 Once your order has been matched with another user's order, you may not change, withdraw, or cancel your authorization granted to Loopex to complete such order.

6.2.4.13 If your order was partially matched, you may cancel unmatched portion of your order until the unmatched portion has been matched. Loopex reserves the right to refuse any cancellation request, after submission of such order.

6.2.4.14 If you have an insufficient amount of crypto assets in your Loopex wallet to fulfill the order, Loopex may cancel the entire order or may execute a partial order that can be completed by existing tokens/coins in your Loopex wallet (after deducting any fees payable to Loopex in connection with the service).

6.2.5 Other Terms Applicable to Transfers

You take responsibility and agree that:

6.2.5.1 You will pay all fees charged by any third party service provider associated with any external account/wallet/address as well as for paying any fees charged by Loopex for any service provided;

6.2.5.2 You will ensure that any inbound and outbound transfers of crypto assets are handled in compliance with our requirements, third party service provider requirements or relevant token/coin requirements;

6.2.5.3 You will ensure that the address to which any crypto assets will be transferred is properly formatted and suitable for the type of token/coin being transferred; 

6.2.5.4 You will ensure that there are no errors in any of the transfer orders you create using the platform or the services;

6.2.5.5 You represent and warrant that all information provided by you for purposes of receiving our services is accurate and complete;

6.2.5.6 You own all crypto assets used by you in connection with the Loopex platform (or such tokens are those with which you are able to carry out authorized transaction);

6.2.5.7 You acknowledge that In the event of failing to comply with any requirements of this paragraph, transferred crypto assets may be permanently lost;

6.2.5.8 The timing for completing any transfer will depend on third party actions that are outside the control of Loopex and we give no guarantee regarding the amount of time it may take to complete any transfer;

6.2.5.9 Loopex at its sole discretion reserves the right to correct, reverse, cancel, rollback or block order, trade or transactions of all types, to limit the amount of any inbound or outbound transfers, to suspend or terminate the ability to transfer crypto assets into or out of your Loopex wallet in the event of abnormal transactions, or in order to comply with applicable laws or regulations or in case we discovered that there was an error, whether such error was caused by you, Loopex or by a third party;

6.2.5.10 You hereby authorize our platform to attempt any such correction, reversal or cancellation described in the preceding sentence. Loopex provides no guarantee, that any such attempt will be successful and we will have no responsibility or liability for the error or any correction attempt;

6.2.5.11 Loopex 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 getting them scammed;

6.2.5.12 While the list is non-exhaustive, you agree that Loopex will not be responsible for any losses arising from the situations stated above.

7. General Terms of Service

7.1.1 Loopex grants you a limited, nonexclusive, nontransferable right to access and use the services (whether via the app or our website), solely for the intended functions of the services and other approved, permitted purposes. Any other use of the services is expressly prohibited.

7.1.2 While using Loopex services, you agree that, any activity carried out by you will be in compliance with applicable laws, regulations, this agreement and relevant rules, as well as the various guidelines of Loopex, you will not be in violation of public or other legitimate interests and it is your responsibility to report and remit the correct taxes or fees to the appropriate tax authorities if applicable.

7.1.3 If any legal consequence will arise as a result of violation of foregoing promises by you, you shall independently bear all responsibilities and legal liabilities in your own name and indemnify Loopex all claims, or costs, which may arise from such violation.

7.1.4 You will not use any data or information presented on the site for commercial purposes without our prior consent. You agree that you will use the website in accordance with the Terms of Use and Privacy Policy, will not take acts of unfair competition nor attempt to intervene with the normal operation of Loopex. Examples of such interventions include, but are not limited to: using a device, software or subroutine to interfere with the normal functioning of the website; overloading network equipment with unreasonable data loading requests; executing malicious sales or purchases on the platform, etc.

7.1.5 By accessing Loopex services, you agree that Loopex has the right to unilaterally determine whether any of the foregoing promises were violated by you and take actions to enforce relevant rules without your consent or giving prior notice to you. Examples of such actions include, but are not limited to: blocking and closing order requests; freezing your account; informing the authorities about the incident; publishing alleged violations and actions taken; deleting any information you published, which may be violating applicable laws.

7.1.6 You shall solely undertake legal liability and hold Loopex harmless from any loss, fine or extra expenses, if your alleged violation causes any losses to a third party.

7.1.7 If, due to any alleged violation Loopex incurs any losses, is claimed by any third party for compensation or is imposed for punishment by any administrative authority, you shall indemnify Loopex against any losses and expense caused thereby, including reasonable attorney’s fee.

7.2 Conditions and Restrictions

7.2.1 Loopex may, at any time and in its sole discretion, refuse any transfer request, order or other transaction request submitted on the platform, impose limits on the amounts of transfers or trades that can be completed on a daily or other periodic basis or impose any other conditions or restrictions upon your use of the services, without prior notice to users.

7.2.2 Such restrictions may include but are not limited to: limiting the number of open orders that you can establish through the platform; restriction of transaction requests from certain locations; restriction of withdrawals or trading if there is a reasonable suspicion of fraud, diminished capacity, inappropriate activity, or if we receive reasonable notice that your ownership of some or all of the assets in your Loopex account is under dispute.

7.3 Support for Assets

7.3.1 Loopex, in its sole discretion, reserves the right, to determine whether to support transfer, storage or trading of any crypto assets using the platform or services, and may discontinue any support for any crypto asset at any time for any reason.

7.3.2 If Loopex ceases to support transfer or storage of a particular token/coins, we will use commercially reasonable efforts to notify you, to give you an opportunity to transfer the affected crypto assets from your Loopex wallet to an external account/wallet/address.

7.3.3 If you do not transfer such digital currency out of your Loopex wallet before cessation of support for the crypto assets by Loopex, it may be lost and we will not bear responsibility for any losses, or expenses related to such event.

7.4 Withdrawal of Services

7.4.1 We may suspend or terminate your access to the services and delete or freeze your account if required by applicable laws, rules, or regulations, or if there is suspicion of using your account in furtherance of illegal activity.

7.4.2 In this case, you will be permitted to transfer crypto assets associated with your account for a period of five (5) days after account deactivation or cancellation unless applicable law does not prohibit such transfer.

7.4.3 If any transaction is in a pending state at the time your account is frozen or deleted, such transaction may be cancelled and/or refunded as appropriate.

7.4.4 Upon cancellation of your account, you authorize us to cancel or suspend pending transactions and, after providing notice to you via the service or app, return the assets associated with such transactions to the wallet address Loopex has on file for you.

7.5 Unacceptable Use of Services

7.5.1 When assesing Loopex services you warrand and agree, that you will not:

7.5.1.1 use the services in any manner that could interfere with, disrupt, or negatively affect others from fully receiving access to the services, or that could damage, disable, or impair the functioning of the platform in any manner;

7.5.1.2 use the services to pay for, support, or otherwise engage in any illegal gambling activities, fraud, money-laundering, or terrorist activities, or other illegal activities; or violate any law, regulation, contract, intellectual property or other third-party right while using the services;

7.5.1.3 use any robot, spider, crawler, scraper, or other automated means or interface to access the services or to extract data; or introduce to the services any malware, virus, trojan worms, logic bombs, or other harmful material;

7.5.1.4 develop any third-party applications that interact with our services without our prior written consent, or unless otherwise agreed; or encourage or induce any third party to engage in any of the activities prohibited under this Terms;

7.5.1.5 use or attempt to use another user’s account without authorization, or provide false, inaccurate, or misleading information;

7.5.1.6 attempt to circumvent any content filtering techniques, or attempt to access any service or area of the services that you are not authorized to access;

7.5.1.7 post content or communications that are, in our sole discretion, libelous, defamatory, profane, obscene, pornographic, sexually explicit, indecent, lewd, vulgar, suggestive, harassing, hateful, threatening, offensive, discriminatory, bigoted, abusive, inflammatory, fraudulent, deceptive or otherwise objectionable, contains unsolicited promotions, political campaigning, or commercial messages (SPAM) or any chain messages or user content designed to deceive or trick the user of the service;

7.5.1.8 post content containing private information of any third-party including, but not limited to, addresses, phone numbers, email addresses, Social Security numbers and credit card numbers etc.

8. Service fees

8.1 Loopex reserves the rights to levy service fees on users who use our services.

8.2 You agree to pay the fees described in the Trading Fees, which will be periodically updated by Loopex on the website.

8.3 The updated Trading Fees will apply prospectively to any transaction that will take place following the effective date of such update was made.

8.4 You agree to authorize Loopex to charge or deduct tokens/coins from your Loopex wallet for any applicable fees owed by you incurred from our provision of the services under these Terms.

9. Liability

9.1 Provision of Service

9.1.1 Loopex Service will be provided “as is” and “as available”, and does not offer any form of warranty of reliability, stability, accuracy and completeness or continuous availability of service provided or technology involved.

9.1.2 Loopex is a platform, where crypto asset related information can be acquired and crypto asset related transactions could be conducted.

9.1.3 We cannot control the quality, security, merchantability or other features of the asset involved in any transaction, or capacity of the parties involved in any transaction to perform their obligations or compliance to applicable rules.

9.1.4 Each user, prior to the use of Loopex services must carefully consider the associated investment risks, legal status and validity of the transaction information and investment decisions.

9.2 Limitation of Liability

9.2.1 You acknowledge and agree that to the fullest extent permitted by applicable law, the company and its affiliates (including third parties working with Loopex to provide the services) shall not be liable for any losses related to profits, revenues, opportunities, reputation, goodwill, data or any other intangible losses related to Loopex service which are not directly attributable to Loopex.

9.2.2 Such losses may be caused by: use or failure of using our service, unuthorized use of user account or alteration of user’s data by third parties, misunderstanding of Loopex service, technical difficulties of the app, platform or the service etc.

9.2.3 You acknowledge that Loopex will not be liable for any failure or delay of service as a result of network maintenance, power failure, natural disaster, service provider-side problems, governmental acts or any other external factors.

9.2.4 If any kind of claim or damage arises out of your breach or our enforcement of this agreement or as a result of your violation of any applicable law, regulation, or rights of any third party during your use of the Loopex services you agree to indemnify any related loses or expenses and hold harmless Loopex, its affiliates, contractors, licensors, and their respective directors, officers, employees or agents.

10. Risk Disclosure Statement

10.1 Crypto-assets are often described in exceedingly technical and sophisticated language; Inherent risk evaluation requires a comprehensive understanding of applied cryptography and computer sciences. By using Loopex services, you bear sole responsibility and warrant that you have sufficient knowledge, experience, and/or professional advice sufficient for a prudent evaluation of market sophistication, merits and risks of all transactions conducted by you pursuant to the services.

10.2 Neither Loopex nor its affiliates make any guarantee or control of functionality, security, or availability of the underlying software through which blockchain networks are formed and with which any crypto assets are created and transacted.

10.3 The blockchain technology and crypto assets are subject of change at any time, including changes in operating rules (commonly referred to as "forks"). Blockchain networks may go offline as a result of bugs, hard forks, or a number of other unforeseeable reasons. Such changes may materially and adversely affect the value or function of crypto assets in your account. You agree that you are fully responsible for monitoring such changes and bear all related risks.

10.4 Your account/wallet/address and any digital currencies therein may be adversely affected in the event of cyber-attack on the Loopex platform, website, app or services. You agree that neither company nor its affiliates may guarantee that they will foresee, prevent, mitigate, or take corrective action in the event of such attack.

10.5 You agree that Company in its sole discretion may temporarily suspend or discontinue the services (with or without advance notice to you) or cease support for particular crypto asset in case of cyber-attack or fork. You will have opportunity to withdraw/transfer such coins/tokens to external account/wallet address if feasible. Resolution concerning deposits, withdrawals, and user balances for such cases will be made individually.

10.6 Loopex makes no warranties regarding platform security and will not take liability for any loss or stolen property, regardless of whether the company was negligent in providing the proper security.

10.7 Loopex hereby disclaims all responsibility for any loss or damage (including without limitation the theft of your personal information) related to your use of services which may arise from factors beyond its control such as: the viability of any specific blockchain network,  your failure to understand crypto currency usage or your use of our services, cyber-attacks, unprecedented surges in trading volume, any disruption or shut down of the services, or other technical difficulties with respect to the services.

10.8 Information about exchange rates between crypto assets provided on Loopex platform, may differ from prevailing rates which are available by third parties or, actual market rate at the moment of your trading may differ from indicated prevailing rate depending on the trading velocity of crypto assets involved in your trade.

10.9 Hereby you agree that Loopex doesn't bear responsibility for any loss or damage which may arise as a result of price fluctuations, latencies, or differences in actual versus indicated prevailing rates.

10.10 There are several reasons, which may cause undesirable result or failure from transaction. Such reasons include but are not limited to: seller price changes, insufficient margins, unexpected technical difficulties. You agree that Loopex disclaims any losses or damages which may arise in such cases and takes no responsibility for notifying you about undesirable transactions or changes in terms of online deposits.

10.11 Loopex in its sole discretion may refuse to execute transaction/exchange or impose limits or restrictions at any time, without prior notice to you. Specifically, we reserve right to cancel, reverse, refuse to process any transaction or disable any user account if there is a doubt of possible money laundering, terrorist financing, fraud, any other unlawful conduct, or violation of these Terms of Use and any applicable laws. Respectively, user may not change, withdraw, or cancel authorization for making a transaction, except with respect to partially filled orders.

10.12 The Platform operates so that users' orders are matched. User's order may be fully or partially filled by single or a number of orders of other users, depending on the trading activity at the time order is placed.

10.13 You acknowledge that for trading purposes we provide each account with capabilities to deposit crypto assets to Loopex account/wallet/address. You agree that Loopex does not allow users to use such deposit capabilities for purposes other than those required for the trading of digital assets in accordance with these Terms. We reserve the right to halt deposit activity at our sole discretion.

10.14 Loopex reserves the right to discontinue the availability or support of crypto assets previously available on the platform at any time in its sole discretion. In such event, users will have opportunity to withdraw such tokens.

10.15 You acknowledge that because of market conditions, instability and variability, placing contingent orders such as: Stop-Market, Stop-Limit, Smart-Market, Smart-Limit or Trailing Stop orders, will not necessarily limit your losses to the intended amounts. Factors, including but not limited to regulatory scrutiny, market manipulation or unexplainable price volatility can affect market liquidity for a particular token and as a result, you may find it difficult or impossible to liquidate a position.

10.16 If required, you bear responsibility to maintain a certain number of crypto-assets in your Loopex account at all times to meet the Company’s minimum balance requirements, which may be modified from time to time at the Company’s sole discretion.

10.17 You agree and acknowledge that any recommendation, commentary or other information provided by Loopex, its representatives or affiliates does not constitute as trading advise. You bear sole responsibility for evaluating any transaction conducted via use of our services and Loopex has no obligation of due diligence or fiduciary duty toward any user’s transaction decisions.

10.18 You acknowledge and agree that you are solely responsible for compliance with  laws, rules, or regulations and for all tax obligations which may apply to your transactions or arise from your use of services (including, without limitation, any anti-money laundering laws, securities laws and tax laws). You further acknowledge and agree that the company shall not be liable, whether directly or indirectly, for any of your tax obligations.

10.19 You acknowledge and agree that if required by applicable regulations or state of the art practices company’s recordkeeping and customer verification procedures may be subject to change at any time without prior notice to you.

10.20 You acknowledge and agree that if required by applicable law, regulation, or executive orders by government agencies, Loopex may freeze or suspend withdrawals or trading (or both), or disclose information related to your account.

10.21 While Loopex will endeavor to, where commercially reasonable, give you prior notice of such disclosure, we make no guarantees that such prior notice will be made.

11. Changes/Suspention/Termination of Agreement/Services/account

11.1 You agree that Loopex may, at its sole discretion and without liability to you, with or without prior notice and at any time, modify or discontinue, temporarily suspend or permanently terminate your access or usage to all or a portion of our services.

11.2 You agree that Loopex has the right to immediately suspend your account and/or any account beneficially owned by related parties, freeze or lock the funds in all such accounts, and permanently suspend your access to Loopex, if there is any doubt for following cases:

11.2.1 You or your account (accounts) violates Terms of Use, Privacy Policy or any applicable law, rule or regulation;

11.2.2 You or your account (accounts) are subject to a governmental proceeding, criminal investigation or other pending litigation;

11.2.3 We detect unauthorized access or any unusual activity on your account;

11.2.4 We are required to do so by a court order or a command issued by a regulatory/government authority;

11.3 Loopex in its sole discretion has right to permanently terminate this agreement, cancel and freeze authorizations of your account if:

11.3.1 Loopex has terminated services to you;

11.3.2 You allegedly have registered any other person’s name as Loopex user again, directly or indirectly;

11.3.3 Main content of information that you have provided is not truthful, accurate, complete or updated in timely manner;

11.3.4 After amendment of this agreement (including any applicable rules and regulation), you expressly state and notify Loopex that you are unwilling to accept the amended service agreement;

11.3.5 Any other circumstance occurs where Loopex deems it should terminate the services.

11.4 Loopex will not bear liability for any losses suffered by you, which may result from cases above.

11.5 Loopex shall have the right to keep and use the transaction data and other information related to such accounts, or delete the transaction data and other information related to such accounts without liability to you, in consideration of requirement of data retention standards and any applicable regulations.

11.6 After account termination all amounts payable by you to Loopex such as fees charges and other liabilities will be payable at once to Loopex. Upon payment of all outstanding charges to Loopex (if any), the user will have 5 working days to withdraw all funds from the account.

11.7 If account closing, agreement/service termination is caused because of fraud investigations, AML investigations or violation of Loopex’s Terms (e.g. Trading on Loopex from a sanctioned country) Loopex maintains full custody of the funds and user data/information, which may be turned over to the authorities if requested by applicable laws and regulations.

12. ELECTRONIC NOTICES

12.1 You consent and agree to receive electronically all communications, agreements, documents, receipts, notices, and disclosures (collectively - communications) that we will provide in connection with this agreement, your Loopex account or any services.

12.2 Loopex may provide these communications to you in several ways: by posting them on the website or via the services, by emailing them to email address you have provided, sending them using an app or other messaging service to your account on the app or messaging service, and/or by sending an SMS or text message to a mobile phone number you have provided. You should save copies of electronic communications by printing a paper copy or saving an electronic copy.

12.3 In order to receive and retain electronic communications, you will need electronic device (computer, mobile phone or other device) with certain hardware and software requirements, an Internet connection that has a current web browser and cookies enabled. You will also need to have a valid contact information provided during registration to receive communication.

12.4 You may withdraw your consent to receive electronic communications by sending a withdrawal notice to Loopex support team. If you decline or withdraw consent to receive electronic communications, Loopex in its sole discretion may suspend or terminate your use of the services.

12.5 You are responsible to keep your contact information updated so that Loopex can communicate with you electronically.

12.6 It will be deemed that we have provided communication to you if Loopex sends you an electronic communication but you do not receive it because email address or mobile phone number provided by you is incorrect, outdated, blocked by your service provider, or you are otherwise unable to receive electronic communications.

12.7 Please, note that if you use a spam filter that blocks or re-routes emails from senders not listed in your email address book, you must add Loopex to your email address book so that you will be able to receive communications sent by Loopex.

12.8 If your email address or mobile phone number becomes invalid such that electronic communications sent to you by Loopex are returned, we may deem your account to be inactive, and you may not be able to complete any transaction or receive our services until we receive valid, working email address or mobile phone number from you.

13. PROPRIETARY RIGHTS

13.1 The services, website, all technology, content and other materials used, displayed or provided to you by Loopex (further Loopex materials) together with all intellectual property rights in any of the foregoing are, as between you and Loopex, owned by Loopex.

13.2 You may use the Loopex materials solely as authorized by Loopex in connection with your use of platform and services for as long as we permit you to continue to access the services.

13.3 Without limiting the foregoing you don't have the right to :

13.3.1 resell, lease, lend, share, distribute or otherwise permit any third party in any service bureau environment to use the website, services or Loopex materials;

13.3.2 modify or create derivative works of the website, services or Loopex materials, or any portion thereof;

13.3.3 frame, display or incorporate the website, services or Loopex materials in any website or any other work of authorship;

13.3.4 decompile, disassemble, reverse engineer or attempt to discover the source code of the website, services or Loopex materials ;

13.3.5 use the website, services or Loopex materials to design, develop or create any competing product or service; or

13.3.6 otherwise use the website, services or Loopex materials for any commercial or noncommercial purpose other than their intended purposes determined by Loopex.

13.4 "Loopex”, any product or service names, logos, and other marks used on the website or Loopex materials, or otherwise in connection with the services, are trademarks owned by Loopex or its licensors. You agree that you don't have right to copy, imitate or use them without our prior written consent.

13.5 Loopex will own any feedback, suggestions, ideas, or other information or materials regarding Loopex or the services that you provide, whether by email, posting through the services or otherwise. You hereby assign to Loopex all right, title and interest to feedback together with all associated intellectual property rights. You will not be entitled to, and hereby waive any claim for, acknowledgment or compensation based on any feedback or any modifications made based on any feedback.

13.6 You hereby grant to Loopex a royalty-free, fully paid-up, sub-licensable, transferable, perpetual, irrevocable, non-exclusive, worldwide license to use, copy, modify, create derivative works of, display, perform, publish and distribute, in any form, medium or manner, any text, information, data, materials, images, or other content you provide to Loopex using the services or submit or post to the website and that is not feedback owned by Loopex (the “user content”).

13.7 You represent and warrant that:

13.7.1 you own the user content or have the right to grant the rights and licenses in these Terms, and

13.7.2 the user content and use by Loopex of the user content as licensed herein does not and will not violate, misappropriate or infringe on the rights of any third party.

13.8 Loopex may remove any user content from the website for any reason at Loopex’s sole discretion, without prior notice to you.

14. Third Party Content

14.1 While using the services, you may view content provided by third parties, links to web pages, that aren't owned or controlled by Loopex (further - third party content).

14.2 Loopex doesn't control, own, endorse or adopt any third party content and makes no warranties that material presented is not misleading, incomplete, offensive, indecent, inaccurate or otherwise objectionable.

14.3 You agree and acknowledge that your use of third party content is at your own risk the company does not take responsibility to update or review any third party content.

14.4 You agree and acknowledge that your business dealings, correspondence, or any use of third party content is at your own risk and solely between you and the third parties.

14.5 Loopex is not responsible or liable for any sort of loss or damage incurred as a result of any kind interaction between you and third parties.

15.Force Majeure

15.1 Loopex will have no responsibility or liability for any failure or delay in performance of the platform, website or any services, or any loss or damage that you may incur, or resulting from causes beyond its reasonable control, including but not limited to:

15.1.1 acts of god, extraordinary weather conditions, fire, flood, snow storm, earthquake, explosion, acts of any government, war or other hostility, civil disorder, embargo, insurrection, riot, industrial or labor disputes or controversies, accident, acts of terrorism, power failure, communication method interruptions, equipment or software malfunction, acts of any third party data providers or other third party information providers, third party software or communication failure, etc.

16. Dispute Resolution

16.1 Loopex 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.

16.2 With the exception only of disputes related to the enforcement or validity of Loopex’s intellectual property rights, you agree that all disputes, controversies or claims arising out of or relating to these Terms or the services, will be resolved through confidential binding arbitration.

16.3 You agree that any dispute arising out of or related to these Terms or the services is personal to you and Loopex and that any dispute will be resolved solely through individual arbitration and will not be brought as a class arbitration, class action or any other type of representative proceeding.

16.4 The arbitrator will have exclusive authority to make all procedural and substantive decisions regarding any dispute and to grant any remedy that would otherwise be available in court; provided, however, that the arbitrator does not have the authority to conduct a class arbitration or a representative action, which is prohibited by these Terms. The arbitrator may only conduct an individual arbitration and may not consolidate more than one individual’s claims, preside over any type of class or representative proceeding or preside over any proceeding involving more than one individual.

16.5 You agree to bear all the costs and expenses arising from the process of arbitration and dispute resolution.

17. Compliance with local laws

17.1 All users acknowledge and warrant that source of their funds is derived from legal activities and comes from a legitimate manner.

17.2 User takes full responsibility to abide to local laws in relation to the usage of Loopex platform and services in their local jurisdiction and to fulfill all obligations and aspects related to taxation, withholding, collection and reporting to relevant tax authorities.

17.3 Loopex maintains a stance of cooperation with law enforcement authorities globally and will not hesitate to seize, freeze, and terminate the account and funds of users which are flagged out or investigated by legal mandate.

18. Privacy Policy

For information about how Loopex collects, uses and shares user data, please refer to our Privacy policy, which is posted on Loopex platform and is an integral part of these terms. We may time to time update Privacy Policy, which can always be found on our website https://www.loopex.io.

19. Indemnity and disclaimer

19.1 You acknowledge that Loopex strives its best to maintain the data integrity on its site but will not be liable for errors arising from the use of services and does provide guarantees related to the information and services provided in its platform.

19.2 You agree that you will defend and hold harmless Loopex and any related party from any claim, demand, lawsuit, action, proceeding, investigation, liability and indemnify any damage, loss, cost, fines, fees, penalties, expenses, including reasonable attorney's fees arising out or relating to your use or misuse of Loopex platform or any of its services, your violation of these terms or any applicable law.

20. Disclaimer of Warranties

20.1 To the maximum extent permitted under this Terms and any applicable law, the website, services, materials, products provided by Loopex or on the behalf of Loopex are provided on an "as is" and "as available".

20.2 Loopex doesn't represent or warrant that the website, services, materials, products are accurate, complete, error free or free of other harmful components.

20.3 You acknowledge that your data or access to website or services may become lost, corrupted or temporarily unavailable due to variety of causes including but not limited to: software failure, force majeure or other disasters, viruses or other harmful materials, protocol changes by third parties, internet outages, scheduled or unscheduled maintenance or other causes within or outside our control.

20.4 You bear sole responsibility for maintaining backups and duplicate copies of any information you store or transfer through our services and take all necessary steps for keeping your data and account secure.

20.5 The disclaimer of implied warranties contained herein may not apply if it is prohibited by applicable law.

 

20.6 In no event will be Loopex, its affiliates, and their shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers, contractors or any related party be liable for any incidental, indirect, special, punitive consequential or similar damages, loses or liabilities arising out of or in connection with the platform, website, services, information, material, product or any item provided by or on behalf of Loopex.

21. Contact

21.1 In case you have any complaints, feedbacks, questions, please, kindly contact us and we will in our best efforts try to resolve it for you.

Создание Учётной Записи

Сброс пароля

>