Terms of conditions of Token Exchange

Terms and Conditions

You agree that by registering for an account on our Site or otherwise accessing our Services, you are agreeing to the terms and conditions (the “Terms”) of use set forth below. If you do not agree to these Terms, do not register for an Account or otherwise access our Services.

Please note that your use of the Services is also subject to our Privacy Policy.

Last updated: April 17, 2018.

DEFINITIONS

Account(s): One or more accounts created by a User on the Website for the purpose of accessing the Services.

BITOEX: BITOEX Technology Limited, with its registered office at British Virgin Islands.

Restricted Person: citizens of, natural and legal persons, partnerships, having their habitual residence or domicile, location or their seat of incorporation in the United States and China; and citizens of, natural and legal persons, having their habitual residence, location or their seat of incorporation in the country or territory where using the Website, the Services or the method of payment for the Services specified at the Website is prohibited or in any manner restricted by applicable laws or regulations, or will become so prohibited or restricted at any time after these Terms become effective.

Platform: The platform published by BITOEX and/or its affiliates, which permits Users to exchange tokens with other Users, including Tokens (BitoPro Coins). The Platform permits Users to exchange tokens for legal currency.

Services: Any services made available through the Website, affiliated websites, or through any other channels via the utilization of Tokens.

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

Website: BITOEX’s website, having its URL at: www.bitopro.com.

Users: any user of the Services (all references to “you” or “your” herein refer to each User).

1.Eligibility, Restricted Person, and Permitted Use

Eligibility. By accessing the Services, you represent and warrant that you:

  • are at least 21 years of age, or at least the minimum age required by applicable law such that the Services may be lawfully provided to you without parental consent;
  • accede to these Terms (and are legally capable of doing so);
  • do not reside in a country with which United States persons are prohibited from doing business (e.g. countries subject to sanctions as identified by The Office of Foreign Assets Control of the U.S. Department of the Treasury;
  • are not prohibited by applicable law from accessing and using the Services;
  • have not previously been suspended or removed from the Website;
  • have all necessary consents and authorizations to carry out all transactions initiated from your Account;
  • have provided true, accurate, and complete information in creating your Account(s); and
  • have reviewed the risk disclosure statement contained in these Terms, and consent to the bearing of all risks described therein.

Restricted Person. By accessing the Services, you represent and warrant that you are not a Restricted Person. If a Restricted Person uses the Website or the Services, such Restricted Person has done so on an unlawful, unauthorized and fraudulent basis. In such a case, any transactions and operations entered in by the Restricted Person on the Website shall be null and void, including, but not limited to, the following:

  • transactions resulting from acceptance of these Terms;
  • any transaction resulting from the acquisition of products, assets or Services from the Website; and
  • any payment operation.
  • BITOEX may, in its sole discretion:
  • take all necessary and appropriate actions to apply and enforce the consequences of the void transactions and operations specified above;
  • notify the relevant authorities on the transaction or the operation in question; and
  • retain all the funds paid by the Restricted Person and either freeze them until the situation is resolved by the respective authority or transfer to the account specified by the relevant financial authority, or apply to cover inflicted losses or discharge liabilities, or refund to the payer of the funds in accordance with the applicable legislation.
  • Any Restricted Person using Website or the Services shall be liable for damages caused to BITOEX and shall indemnify, defend and hold harmless BITOEX from any damages, losses, and expenses incurred by BITOEX that arise from or are the result of such Restricted Person’s use of the Website or the Services.
  • Permitted Use. You agree that you will comply with all applicable laws and regulations when accessing the Services. You agree not to use the Services for any unlawful activity, including, but not limited to, illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, or other violent activities. You further agree that you will not hack, decompile, reverse engineer, disassemble, attempt to derive the source code of, decrypt, or otherwise compromise the integrity and security of the Website. You will not use the Website or the Services to:
  • publish, post, send, upload, submit, display or disseminate any information or material and/or otherwise make available or engage in any conduct that is unlawful, discriminatory, harassing, libelous, defamatory, abusive, threatening, harmful, offensive, obscene, tortious or otherwise objectionable;
  • display, upload or transmit material that encourages conduct that may constitute a criminal offense, result in civil liability or otherwise violate or breach any applicable laws, regulations or code of practice;
  • interfere or violate the legal rights (such as rights of privacy and publicity) of others or violate others use of the Website or the Services;
  • violate any applicable laws, regulations or these Terms;
  • violate, infringe or misappropriate any intellectual or industrial property right of any person (such as copyright, trademarks, patents, or trade secrets, or other proprietary rights of any party) or commit a tort;
  • interfere with, disrupt, negatively affect or inhibit other Users from using the Website or links on the Website or damage, disable, overburden or impair the functioning of the Website or our servers or any networks connected to any of our servers in any manner;
  • gain, or attempt to gain, unauthorized access to the Website, Accounts of other Users, or any other component of the Service, whether through password mining or otherwise;
  • use or attempt to use a web crawler on the Website or any component of the Service;
  • create a false identity for the purpose of misleading others or fraudulently or otherwise misrepresent yourself to be another person or a representative of another entity including, but not limited to, an authorized user of the Website or a BITOEX representative, or fraudulently or otherwise misrepresent that you have an affiliation with a person, entity or group;
  • mislead or deceive us, our representatives and any third parties who may rely on the information provided by you, by providing inaccurate or false information, which includes omissions of information;
  • disguise the origin of any information or material transmitted through the Website or the Services (whether by forging messages or otherwise manipulating normal identification information);
  • upload files that contain viruses, Trojan horses, worms, time bombs, cancelbots, corrupted files, or any other similar software or programs that may damage the operation of the Website or the operation of another’s computer or property;
  • send, upload, display or disseminate or otherwise make available information or material containing or associated with spam, junk mail, advertising for pyramid schemes, chain letters, virus warnings (without first confirming the authenticity of the warning), or any other form of unauthorized advertising or promotional information or material;

2.Account

You must create an Account to access and use the Services, and you must provide a valid email address to create your Account. You must provide complete, accurate, and current information when creating your Account and promptly update such information should there be any changes. You may request BITOEX to delete or remove any information you provide; however, you acknowledge and agree that BITOEX may, in its sole discretion, refuse your request or restore any previously deleted or removed information. You must be responsible for all activities that occur under your Account and accept all risks of unauthorized access. You agree to maintain the security and confidentiality of your login credentials, and restrict unauthorized access—whether via the Website or otherwise—to your Account. You must promptly notify BITOEX if you discover or otherwise suspect any unauthorized access to or use of your Account.

You agree that BITOEX reserves the right to limit the number of Accounts that you or any of your affiliates may create.

You agree that BITOEX reserves the right to limit the number of Accounts that you or any of your affiliates may create.

3.Risk Disclosure Statement

  • Technology

    Sophistication. Tokens are often described in exceedingly technical language; a comprehensive understanding of applied cryptography and computer science is required in order to appreciate inherent risks. By using the Services, you represent and warrant that you have sufficient knowledge, market sophistication, experience, and/or professional advice sufficient to undertake a prudent evaluation of the merits and risks of all transactions conducted by you pursuant to the Services. You agree to bear sole responsibility for the aforementioned evaluation..

    No guarantee. Neither BITOEX nor its affiliates owns or controls any of the underlying software through which blockchain networks are formed and with which any tokens are created and transacted. Neither BITOEX nor its affiliates makes any guarantee of functionality, security, or availability of such software and networks.

    Forks. The blockchain technology underlying tokens is subject to change at any time, including changes in operating rules (commonly referred to as “forks”), and 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 the tokens in your Account. You agree that you are fully responsible for monitoring such changes and agree to bear all risks arising therefrom or relating thereto.

    Malicious Nodes. Some nodes in the BITOEX network may be malicious and attempt to get rewarded without corresponding contribution; also, attackers may try to ruin the BITOEX ecosystem if they only suffer from minimal penalties. We need strong guarantees to protect the network from malicious attacks to ensure that the transactions are secured and the ecosystem is sustainable. Some attacks that could threaten a blockchain network are listed and discussed as follows.

    Sybil Attack. Malicious nodes could create multiple Sybil identities to strive for more rewards or cheat the network. In general, the proof mechanism should have established barriers to prevent Sybil attacks; however, there is no guarantee such barriers will always be successful.

    Out-of- Work Attack. While an attacker can control a lot of nodes, the nodes could be used to make some troubles on a distributed computing network. The nodes controlled by malicious attackers could be called zombies. An attack methodology is to ask the zombie nodes quit or go on a strike at one time. On BITOEX network, the zombie nodes may take AI jobs but fail to complete them or return invalid results. If an AI job is assigned to a group of which most are zombie nodes, the AI job would receive unauthentic results or just simply fail.

    Outsourcing Attack. Malicious nodes may outsource their jobs to other nodes, such that they may earn the rewards easily without consuming the corresponding computing power. On BITOEX network, nodes should present their capabilities to strive for taking jobs. Validation of node capabilities based on Proof-of- Intelligence may mitigate the behavior of outsourcing attack because the malicious nodes would lose their jobs if they do not endeavor to execute the same; however, there is no guarantee this approach will always be successful.

    Disclaimer. BITOEX hereby disclaims all responsibility for any loss or damage arising from or relating to your use of any Services (including, but not limited to, risk of losses due to trading or due to factors beyond its control regarding the viability of any specific blockchain network). BITOEX further disclaims all responsibility for any loss or damages arising from or relating to any cyber- attacks (including without limitation the theft of your personal information), unprecedented surges in trading volume, any disruption or shut down of the Services, or other technical difficulties with respect to the Services.

  • Platform Disclaimers:

    Cyber-attacks. In the event of a cyberattack on the Platform, Site, or any other component of the Services, your Account and the tokens therein may be adversely affected. Neither BITOEX nor its affiliates makes any guarantee that it may foresee, prevent, mitigate, or take corrective action in the event of such attack.

    Suspension/Discontinuation of Support/Withdrawal. In the event of a fork or a cyber-attack regarding a particular token traded on the Platform, you agree that BITOEX may temporarily suspend the Services (with or without advance notice to you) for the token in question and that BITOEX may, in its sole discretion, decide not to support (or cease supporting) the forked token entirely. BITOEX will provide you with an opportunity to withdraw such tokens if feasible. Resolutions concerning deposits, withdrawals, and User balances for an attacked token will be determined on a case-by- case basis by BITOEX in its sole discretion. BITOEX makes no representations or warranties with respect to the security of the Platform, and shall not liable for any lost value or stolen property, regardless of whether BITOEX was negligent in providing the proper security.

    Transaction failure; Terms of Online Deposit. A transaction on the Platform may fail for several reasons, including but not limited to change in seller prices, insufficient margin, or unanticipated technical difficulties. BITOEX makes no representations or warranties that any transaction will be executed properly. BITOEX hereby disclaims all losses and damages arising from or relating to any transaction failure. You agree and consent that BITOEX shall not be responsible for notifying you of a transaction failure.

    BITOEX may refuse to execute a trade or impose trade amount limits or restrictions at any time, without prior notice, and in its sole discretion. Specifically, BITOEX reserves the right to refuse to process, or to cancel or reverse, any transaction or disable a User’s Account where BITOEX suspects possible money laundering, terrorist financing, fraud, or any other unlawful conduct, or where BITOEX suspects the transaction violates these Terms (e.g. transactions involving the opening of an Account and subsequent closure without any actual trading). While BITOEX may in its discretion reverse a trade, a User may not change, withdraw, or cancel its authorization to make a transaction, except with respect to partially filled orders.

    BITOEX may correct, reverse, or cancel any trade impacted by an error in processing your trading instructions or otherwise. Your remedy in the event of an error will be limited. You may seek to cancel your order or obtain a refund of any amounts charged to you, although we cannot guarantee such cancellations or refunds will always be possible.

    BITOEX’s Platform operates such that each User’s orders are matched with those of other Users. Orders may be partially filled or may be filled by a number of orders, depending on the trading activity at the time an order is placed.

    You acknowledge that BITOEX provides each Account with cryptographic token deposit capabilities in order to enable trading. You acknowledge and agree that BITOEX does not allow Users to use such deposit capabilities for purposes other than those required for the trading of cryptographic tokens in accordance with these Terms; such prohibited uses include using Accounts as “web wallets” or for address registration purposes. We reserve the right to halt deposit activity at our sole discretion.

    Company Bank Account. If at any point BITOEX’s bank accounts become frozen, you acknowledge and agree that BITOEX may take steps to unfreeze the account, but under no circumstances will BITOEX be liable for any loss that you may or may not incur as a result of the account freeze.

    Illiquidity. You may find it difficult or impossible to liquidate a position. This can occur if there is insufficient liquidity in the market. Placing contingent orders, such as "stop-loss" or "stop-limit" orders, will not necessarily limit your losses to the intended amounts, because it may be impossible to execute such orders due to market conditions. Factors, including but not limited to regulatory scrutiny, market manipulation or unexplainable price volatility can all affect market liquidity for a particular token

    Default and Liquidation. You agree to maintain a sufficient number of tokens in your Account(s) at all times to meet BITOEX’s minimum balance requirements, as such requirements may be modified from time to time at BITOEX’s sole discretion. If the value of the assets in your Account falls below the minimum balance requirement, or if your Account appears to be in danger of defaulting on a loan, BITOEX may seize and liquidate any or all of your positions and assets on any balance in your Account in order to settle your debt to other Users. If, after your positions and assets are liquidated, your Account still contains insufficient tokens to settle your debts to other Users, you are solely responsible for any additional tokens owed.

  • Prevailing rate

    While BITOEX uses commercially reasonable methods to provide exchange rate information to you through its Services, such information may differ from prevailing exchange rates made available by third parties. Moreover, the actual market rate at the time of your trade may be different from the indicated prevailing rate depending on the velocity of trading in the tokens involved in your trade. BITOEX hereby disclaims all responsibility for any loss or damage arising from or relating to price fluctuations, latencies, or differences in actual versus indicated prevailing rates.

  • Discontinuation

    BITOEX reserves the right to discontinue the availability of a token previously available via the Services at any time in its sole discretion. In such event, BITOEX will provide you with an opportunity to withdraw such tokens.

  • No trading advice.

    If at any point BITOEX or its representatives or affiliates provide trading recommendations, market commentary, or any other information, you acknowledge and agree that such communications do not constitute trading advice. You further acknowledge and agree that you have the sole responsibility with respect to evaluating any transactions you conduct via your use of the Services, and that BITOEX has no obligation of due diligence or fiduciary duty toward any of the User’s transaction decisions.

  • Security of the Platform.

    You acknowledge that information you store or transfer through BITOEX’s services may become irretrievably lost or corrupted or temporarily unavailable due to a variety of causes, including software failures, protocol changes by third party providers, internet outages, force majeure event or other disasters including third party DDOS attacks, scheduled or unscheduled maintenance, or other causes either within or outside BITOEX’s control. You are solely responsible for backing up and maintaining duplicate copies of any information you store or transfer through BITOEX’s services.

  • Not Securities.

    Use and purchase of the tokens generated by BITOEX carries significant financial risk. BITOEX hereby expressly disclaims that the transactions taking place on its platform pertain in any way to an offering of securities in any jurisdiction or that any documents published on its platform are solicitations for investment.

  • Regulatory Measures

    Crypto-tokens are being, or may be overseen by the regulatory authorities of various jurisdictions. BITOEX may receive queries, notices, warnings, requests, or rulings from one or more regulatory authorities from time to time, or may even be ordered to suspend or discontinue any action in connection with the Website or Services. The development of the Website may be seriously affected, hindered, or terminated as a result.

  • Illiquidity and Price Volatility

    You may find it difficult or impossible to liquidate. There may not be a demand for Tokens. BITOEX is not responsible for the circulation and trading of Tokens on the market. Tokens such as Tokens, if traded on markets, usually have extremely volatile prices. Fluctuations in price over short periods of time frequently occur, which price may be denominated in Bitcoin, Ether, US Dollars or any other fiat currency. Such fluctuations could result from market forces (including speculations), regulatory changes, technical innovations, availability of exchanges, and other objective factors and represent changes in the balance of supply and demand. The Seller is not responsible for any secondary market trading of Tokens, nor is BITOEX obliged to tame any price volatility of Tokens. Careful due diligence should be undertaken by you, with the full understanding that your contributions may not ultimately result in a useable or valuable token and the value of your contributions may therefore be subject to total loss. BITOEX does not make any representation or warranty, explicit or implicit, as to the usability or the value of any tokens. You understand and accept that there is no warranty or assurance that you will receive any benefits through any Tokens that you hold.

  • Compliance by Users.

    You acknowledge and agree that BITOEX is not responsible for determining whether or which laws, rules, or regulations apply or may apply to your transactions (including, without limitation, any anti-money laundering laws, securities laws and tax laws). You acknowledge and agree that you are solely responsible for compliance with all such laws rules, or regulations as may be applicable to your transactions. Without limiting the foregoing, you acknowledge and agree that you are solely responsible for all tax obligations arising from your use of the Services. You further acknowledge and agree that BITOEX shall not be liable, whether directly or indirectly, for any of your tax obligations.

  • Foundation Compliance.

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

    Applicable law, regulation, and executive orders may require BITOEX to, upon request by government agencies, freeze or suspend withdrawals or trading (or both), or disclose information regarding your Account(s). In the event such disclosure is compelled, you agree that BITOEX may disclose information regarding your Accounts. While BITOEX will endeavor to, where commercially reasonable, give you prior notice of such disclosure, BITOEX makes no guarantees that such prior notice will be made.

4.Limited License

BITOEX grants you a limited, nonexclusive, nontransferable license to access and use the Services, solely for the intended functions of the Services and other approved purposes as expressly permitted by BITOEX. Any other use of the Services is expressly prohibited.

5.User Code of Conduct

When using or accessing the Services, you agree not to:

  • gain, or attempt to gain, unauthorized access to the Site, Accounts of other Users, or any other component of the Service, whether through password mining or otherwise;
  • use or attempt to use a web crawler on the Site or any component of the Service;
  • cause a disproportionately large load on our infrastructure; or
  • upload any material to the Site that contains computer viruses, Trojan horses or worms.

6.Privacy Policy

Your privacy is important to us. However, we may be compelled to share your information pursuant to applicable laws, rules, or regulations. Please refer to our Privacy Policy for more details.

7.Anti-Money Laundering (AML) & Know Your Customer (KYC) Policy

BITOEX enforces bank-level KYC (“know-your-customer”) processes to comply with AML (anti-money-laundering) laws. BITOEX cross-checks User data against government watch lists. If a User or a User’s transaction is flagged as suspicious, BITOEX will require additional proof of identification from the User, and may suspend any trades, deposits, and/or withdrawals by such User until such identification is received to the satisfaction of BITOEX.

BITOEX maintains an internal policy on User verification levels. BITOEX reserves the right to determine, in its sole discretion, the appropriate verification level and criteria for any User, and the right to downgrade Users without prior notice. BITOEX may, from time to time, implement policies restricting verification levels and criteria by nationality, country of residence, or any other factor.

8.No Transferability

obligations thereof to any person and these Terms shall continue to be in force and effect for the benefit of the successors and assigns of BITOEX or its lenders, if any.

9.Permanent Withdrawal of Service

BITOEX may (i) suspend or terminate your access to the Services and (ii) deactivate or cancel your Account is so compelled by applicable laws, rules, or regulations, or if BITOEX suspects you or others of using your Account in furtherance of illegal activity. In such event, you will be permitted to transfer tokens associated with your Account for a period of sixty (60) days after Account deactivation or cancellation unless such transfer is otherwise prohibited by applicable law. If any transaction is in a pending state at the time your Account is cancelled or suspended, such transaction may be cancelled and/or refunded as appropriate.

Upon cancellation of your Account, you authorize BITOEX to cancel or suspend pending transactions and, after providing notice to you via the Service or Platform, return the tokens associated with such transactions to the wallet address BITOEX has on file for you.

10.Disclaimer of Warranties; Exclusion of Liability

THE SERVICES AND THE WEBSITE ARE PROVIDED “AS-IS” AND “AS AVAILABLE” AND BITOEX DOES NOT GUARANTEE OR PROMISE ANY SPECIFIC RESULTS FROM USE OF OR CONTINUOUS AVAILABILITY OF THE SERVICES. TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BITOEX AND ITS AFFILIATES (AND THOSE THAT BITOEX WORKS WITH TO PROVIDE THE SERVICES) EXPRESSLY DISCLAIM ANY WARRANTIES AND CONDITIONS OF ANY KIND, WHETHER EXPRESS OR IMPLIED, INCLUDING BUT NOT LIMITED TO, IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE AND NON-INFRINGEMENT, AND WARRANTIES IMPLIED FOR A COURSE OF PERFORMANCE OR COURSE OF DEALING.

TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, BITOEX AND ITS AFFILIATES (AND THOSE THAT BITOEX WORKS WITH TO PROVIDE THE SERVICES) SHALL NOT BE LIABLE TO YOU OR ANY OTHER PERSON FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL OR PUNITIVE DAMAGES, OR ANY LOSS OF DATA, OPPORTUNITIES, REPUTATION, PROFITS OR REVENUES, RELATED TO THE SERVICES (E.G. LOSSES ARISING FROM OR RELATING TO TECHNICAL DIFFICULTIES OF THE WEBISTE OR THE SERVICES).

IN NO EVENT SHALL THE LIABILITY OF BITOEX AND ITS AFFILIATES (AND THOSE THAT BITOEX WORKS WITH TO PROVIDE THE SERVICES) EXCEED, IN THE AGGREGATE FOR ALL CLAIMS, AN AMOUNT EXCEEDING THE AGGREGATE FEES PAID BY YOU FOR THE SERVICES IN THE SIX (6) MONTHS IMMEDIATELY PRECEDING SUCH CLAIMS.

11.Third Party Content

BITOEX may provide third party content on the Website and may provide links to web pages and content that are not owned or controlled by BITOEX (“Third Party Content”). BITOEX does not control, endorse, or adopt any Third Party Content and makes no representation or warranties of any kind regarding the Third Party Content, including but not limited to the accuracy or completeness thereof. You acknowledge and agree that BITOEX is not responsible or liable in any manner for any Third Party Content and undertakes no responsibility to update or review any Third Party Content. You acknowledge that your use of such Third Party Content is at your own risk. Your business dealings or correspondence with, or participation in promotions of, any third parties, and any terms, conditions, warranties, or representations associated with such dealings or promotions, are solely between you and such third parties. BITOEX is not responsible or liable for any loss or damage of any sort incurred as the result of any such dealings or promotions or as the result of the presence of such Third Party Content on the Website or otherwise via the provision of the Services.

12.Indemnification

You agree to indemnify, defend, and hold BITOEX and its affiliates and each of their respective officers, directors, agents and employees harmless from any claim or demand (including any fines, fees or penalties imposed by any regulatory authority, attorney’s fees and court costs) arising out of or related to (i) your breach of these Terms, (ii) your use and misuse of Services or Website, or (iii) your violation of any law, rule, or regulation, or the rights of any third party.

13.Applicable Law and Dispute Resolutions

These Terms shall be governed and interpreted in accordance with the laws of Hong Kong. Any dispute, controversy or claim arising out of or relating to this Agreement, or the interpretation, breach, termination or validity hereof (“Dispute”), shall first be resolved through consultation. Such consultation shall begin immediately after one party to the Dispute has delivered to any other party to the Dispute a written request for such consultation. If within thirty (30) days following the date on which such notice is given the dispute cannot be resolved, the dispute shall be submitted to arbitration. The arbitration shall be conducted in Hong Kong under the auspices of the Hong Kong International Arbitration Centre (the “Centre”) in accordance with the Hong Kong International Arbitration Centre Administered Arbitration Rules (the “HKIAC Rules”) in force at the time of submission of Notice of Arbitration.

To begin an arbitration proceeding, you must send a letter by mail requesting arbitration and describing your claim to us:

FLAT B, 11/F., TUN SHING BLDG., 28 JORDAN ROAD, KOWLOON, HONG KONG

14.No Class Action

You and BITOEX may bring claims against the other only in your or its individual capacity, and not as a plaintiff or class member in any purported class, representative, consolidated or multi-claimant proceeding.

You and BITOEX each waive any right to a jury trial.

15.Severability; Waiver

If any provision of these Terms is deemed unlawful, void, or for any reason unenforceable, then that provision shall be deemed severable from these Terms and will not affect the validity and enforceability of any remaining provisions. Any delay or failure by BITOEX to enforce any of its rights shall not constitute a continuing waiver of such rights.

16.Integration

These Terms and any policies or operating rules posted by BITOEX constitute the entire agreement and understanding between you and BITOEX, and supersede any prior or contemporaneous agreements, communications and proposals, in any form, between you and BITOEX (including, but not limited to, any prior versions of these Terms).

17.Force Majeure

In addition to applicable disclaimers stated above, BITOEX’s performance under these Terms shall be excused in the event of interruption and/or delay due to, or resulting from, causes beyond its reasonable control, including but not limited to acts of God, acts of any government, war or other hostility, civil disorder, fire, flood, snow storm, earthquake, explosion, embargo, acts of terrorism, power failure, equipment failure, industrial or labor disputes or controversies, acts of any third party data provider(s) or other third party information provider(s), third party software, or communication method interruptions.

18.Notice and Communication

All notice, requests, demands and other communications under these Terms shall be deemed to have been duly given if given as follows:

To contact BITOEX: Go to Support and open a ticket. Please provide all relevant information, including your Username and transaction IDs of any related deposits. Although we make no representations or provide no warranties about the speed of response, we will get back to you as soon as possible.

To contact User: BITOEX will send all communications to the email you have on file with BITOEX, or to your Account on Website. You understand and agree that if BITOEX sends you an electronic communication but you do not receive it because your email address on file is incorrect or out of date, or because our email is blocked by your service provider or intercepted by your spam filter, or you are otherwise unable to receive electronic communications, BITOEX will be deemed to have provided the communication to you regardless.

You agree that the foregoing method is the only way to provide BITOEX with legal notice.

19.Modification

BITOEX may, in its sole discretion, amend, delete, or otherwise modify any of the terms of this Terms and Conditions and the Privacy Policy at any time; provided, that BITOEX provide notice to you at least seven days prior to such modification by sending an e-mail to the e-mail address you have on file with BITOEX.

20.Suspension and Termination of the Services

BITOEX may, in its sole discretion and for any reason, temporarily suspend, or finally terminate, the Services, with or without advance notice to you. Without limiting the foregoing, you acknowledge and agree that, in the event of an unstable or irrational market condition, BITOEX may, in its sole discretion, finally terminate the Services, with or without advance notice to you, by initiating a trading curb or any other appropriate measure.