General Risk Disclaimer Notice

Last Updated on March, 2024

This is the General Risk Disclaimer Notice (“Notice”) of FINKBAY LTD (“Platform”, "FinkBay", "KoinBay" “we”, “us”, “our'') operating under the license of Zenit World LTD (“White Label Service Provider”), holding license number BFX2024011 and incorporated on February 12, 2024, pursuant to the International Business Companies Act 2014 of the Autonomous Island of Mwali (Mohéli), Comoros Union. Please note that all terms mentioned in this Notice, as defined in the KoinBay Terms and Conditions, carry the same meaning and interpretation as outlined in the Terms and Conditions document. This Notice provides You with the potential risks associated with our services. Each of our services encompasses its own unique set of risks. Therefore, this notice provides a general description of the risks when a user (“User”, "You,” “Your'') uses our KoinBay Platform.

Please note that WE DO NOT PROVIDE ANY PERSONAL, FINANCIAL, OR INVESTMENT ADVICE, and this Notice does not provide an exhaustive explanation of all the risks that may arise when using virtual assets, nor does it address how these risks specifically pertain to Your individual circumstances. By continuing to engage in virtual asset activities on our Platform, You acknowledge and understand the inherent risks involved, including the volatile nature of such assets. Any risks encountered during Your participation in these activities are solely at Your own discretion, and KoinBay will not be held responsible for any losses or damages incurred as a result.


By accessing or utilizing our Platform, You are voluntarily choosing to engage in sophisticated and risky asset transactions. You are further acknowledging that You are aware of the inherent risks associated with using cryptographic and blockchain-based systems, including, but not limited to, risks of financial loss, technology glitches, and hacking. We strive to provide advanced systems and security measures. However, it is important to recognize that certain issues and risks may be unavoidable. In the event that You encounter problems or challenges while using our Platform, such as technical difficulties with depositing or trading virtual assets, the resolution process may take a significant amount of time, ranging from days to weeks or even months. It is also possible that certain issues may not be resolved entirely.


The markets for virtual assets are known for their substantial volatility, influenced by various factors such as adoption rates, technological advancement, security concerns, and regulatory developments. Engaging in virtual asset trading involves a high degree of market risk and price volatility. The value of virtual assets can undergo significant and rapid changes without prior notice. It is important to note that past performance is not a reliable indicator of future performance. The value of Your investment and potential returns can fluctuate, and there is a possibility that You may not receive the full amount invested. Additionally, the cost and speed of transactions conducted through cryptographic and blockchain-based systems can vary greatly and experience significant fluctuations at any given time.


Virtual assets are associated with a range of inherent risks, and they may be associated with criminal activities, including, but not limited to; Distributed Denial of Service (DDoS) attacks, Sybil attacks, phishing, social engineering, hacking, smurfing, malware, double spending, majority-mining, consensus-based, or other mining attacks, misinformation campaigns, forks, and spoofing. Additionally, virtual assets carry cyber risks, such as ransom hacking and layering. It is important for You to conduct Your own thorough research and due diligence before investing any funds, ensuring that You only invest an amount You can afford to lose. By acknowledging and accepting these risks, You agree that KoinBay will not be held responsible for any losses You may incur.

It is important to recognize that virtual assets can experience a loss of value over time, and there is a possibility that You may incur losses due to fluctuations in token prices within a trading pair or liquidity pool. In expert modes or advanced trading scenarios, You may also encounter significant price slippage and increased costs. These factors should be taken into consideration when engaging in virtual asset transactions.


You shall be aware that fluctuations in currency exchange rates can have an impact on Your gains and losses on the Platform. Virtual asset markets operate continuously, and rapid price changes can occur at any time. It is important to acknowledge and understand that KoinBay has no control over these fluctuations.


We do not provide any form of personal advice in relation to our products or services. You acknowledge and agree that any decision to utilize our products or services on our Platform is solely made by You. Furthermore, You acknowledge and agree that no communication or information provided by us should be construed as investment advice, financial advice, trading advice, or any other type of advice. You shall bear sole responsibility for any investments or transactions You may undertake on our Platform.


We do not guarantee the availability of our services at all times, nor can we ensure that our services will not be affected by unplanned service outages or network congestion. In the event of a force majeure event, it may not be possible for You to engage in activities such as buying, selling, storing, transferring, sending, or receiving virtual assets. For more information, we recommend You review our terms and conditions, which provide further clarification on these matters.


We will never, under any circumstances, ask You for Your Passwords and/or any authentication codes, and we assume no responsibility for any loss that You may sustain due to compromise of account login credentials due to no fault of KoinBay. You are responsible for keeping Your KoinBay account password safe, and You may be responsible for all the transactions under Your KoinBay account, whether You authorized them or not.

Further, investing in virtual assets is highly risky and You may consult a qualified professional before making any financial decisions. In addition, You shall be aware that transactions in virtual assets may be irreversible, and losses due to fraudulent or unauthorized transactions may not be recoverable.


Virtual assets may have limited liquidity due to rapid price movements and which may make it difficult or impossible for You to sell or exit a position when You wish to do so.


Please be aware that when utilizing third-party services such as payment providers, custodians, or banking partners, You may be subject to their respective terms and conditions. In such cases, we cannot be held responsible for any losses that may arise as a result of actions or events involving these third parties. It is important to review and understand the terms and conditions of any third-party services You engage with, as they will govern the relationship and potential liabilities between You and those entities.


You acknowledge and agree that any communication exchanged between You and us through electronic communication means may encounter failures, delays, a lack of security, or may not reach the intended destination. In no event shall we be held liable for any inaccuracy, error, delay, omission, failure in performance, interruption of services, or interruption of any transmission or delivery of information caused directly or indirectly beyond our reasonable control.


Access to our services may be affected during times of significant volatility or high trading volumes. This can lead to potential limitations in buying or selling virtual assets for certain durations, as well as delays in our support response times. We want to emphasize that we cannot be held responsible for any losses incurred as a result of transaction delays. You acknowledge and agree that transactions involving virtual assets are typically irreversible. As a result, any losses stemming from fraudulent or accidental transactions may not be recoverable. Please exercise caution and attentiveness when conducting transactions to mitigate the risk of such losses.


We retain the right to modify its pricing, fees, and charges periodically. We advise You to stay informed about the applicable costs and charges to prevent any avoidable losses. It is advised to familiarize Yourself with the current fee structure and any updates to it to make informed decisions and avoid unexpected financial implications.


The taxation of virtual asset transactions is uncertain, and You are responsible for complying with the tax laws and regulations. In certain jurisdictions, profits from virtual asset trading are taxable as capital gains, therefore, You shall be responsible with regard to tax pronouncements, and You strongly recommend seeking independent legal advice and professional guidance to ensure proper compliance. In certain circumstances, we may be required by applicable law to withhold taxes on Your transactions or payments. If applicable, we may withhold taxes to the extent mandated by law and as deemed necessary.


You acknowledge and agree that You shall not engage in any activities, directly or indirectly, that are intended or reasonably expected to cause or result in any market manipulation. This includes but is not limited to, engaging in pump and dump schemes, front-running, wash trading, spoofing and layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, and any deceptive activity. In any circumstances, if we identify and/or suspect that You have engaged in crypto market manipulation, including pump and dump schemes, front-running, wash trading, spoofing, layering, stop hunting, churning, quote stuffing, false trading, insider dealing, price rigging, or any other deceptive activity, we reserve the sole discretion to freeze, suspend, and/terminate Your transactions/account on our Platform.


You acknowledge and agree that You shall not directly or indirectly involve Yourself in activities such as money laundering, terrorist financing, child abuse, and/or being a sanctioned person or entity. In any circumstances, if we reasonably identify or suspect that You are involved in or dealing with money laundering, terrorist financing, child abuse, and/or that You are a sanctioned individual or entity, we shall suspend, freeze, restrict, cancel, deactivate, and/or terminate Your KoinBay account at our sole discretion. We take these matters seriously and are committed to maintaining a safe and compliant environment.


You acknowledge and agree that certain regulations regarding virtual assets in some jurisdictions remain in an unsettled state, and the nature of virtual assets may lead to an increased risk of cyber-attack or fraud. You are aware that the changes in the virtual asset laws and regulations are unforeseeable and may materially affect the value of the virtual asset You hold on our Platform. It is important to stay informed about regulatory developments and exercise caution when dealing with virtual assets.


A future contract is an agreement to buy or sell an asset at a future date for a fixed price. Generally, it is used by traders to lock in profits when trading in volatile markets. You further understand and acknowledge that; (i) You shall access and use the futures trading services at Your own risk, and You will be solely responsible for any trading / non-trading activity in a KoinBay account. (ii) You shall not enter into any transactions or invest in funds that are beyond Your financial abilities. Failure to maintain a sufficient amount of assets in Your account can result in the insolvency of assets in Your future account, and hereby, You agree and consent to maintain in Your KoinBay futures account a sufficient amount of blockchain assets required by us to engage in future trading. (iii) You acknowledge and agree that You conduct all futures trading on Your own account and claim full and sole responsibility for Your activities. We shall not take any responsibility for any losses or damages incurred as a result of Your use of any services or Your failure to understand the risks associated with assets. (iv) You acknowledge and agree that You fully understand the high risk of futures trading.


Margin trading involves trading virtual assets and hinges on the use of borrowed funds to further capitalize on the future price movements of an underlying asset. You understand and acknowledge that; (i) as a leveraged trader, You agree that You access and use margin trading services at Your own risk. Using margin to support spot transactions involves a high degree of risk. (ii) You acknowledge that the use of leverage may result in major gains or losses due to volatility and that You may lose capital quickly in the trading market. In such an event, You may lose more funds than You deposit in Your KoinBay account.


You acknowledge that smart contracts, being an integral part of our Platform, are susceptible to attacks, hacking, and other vulnerabilities. These issues can potentially impact the overall operation of our Platform and may affect Your use of the services provided. While we strive to implement robust security measures, the inherent nature of smart contracts entails certain risks that Users should be aware of. We encourage You to exercise caution and take necessary precautions when engaging with smart contracts on our Platform.


Staking involves a lockup period during which You acknowledge and accept that You will not have immediate access to Your staked assets. We do not provide any guarantee regarding the success or viability of any staking activities. Therefore, we do not assume responsibility for any losses, damages, or liabilities that may arise from Your participation in staking efforts. It is essential to carefully consider the associated risks and make informed decisions before engaging in staking activities. We recommend You review the KoinBay terms and conditions to understand the staking terms as applicable.


We do not act as Your broker, intermediary, agent, or advisor, and we do not have a fiduciary relationship or obligation to You in connection with any trades or other decisions or activities undertaken by You on our Platform. We do not actively monitor Your use of our services to ensure alignment with Your financial goals and objectives. You shall be responsible for assessing and evaluating whether Your financial resources are adequate for Your financial activities and determining whether to engage in any transactions or use our services on our Platform.

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