Terms and Conditions

General Terms and Conditions of Knaken Cryptohandel B.V. including its trademarks Knaken, Settle and GoSettle
Last Updated: 1 February, 2024

These general terms and conditions are applicable between you ("You" or "User") and KNAKEN Platform ("we", "us", "our", "ours", "KNAKEN", or, the "Platform"). By using, accessing, or attempting to use or access KNAKEN website (https://www.KNAKEN.nl), Apps and any other services provided by KNAKEN or affiliated companies thereof (the "Services"), it will be deemed that you have read and agreed to all the terms and conditions specified hereunder and the Privacy Policy ("Agreement"), as well as the amendments and updates which we may make thereto, and any other agreements, terms, conditions, guidelines, rules, or written instructions, as published by KNAKEN on its website, Apps, or other Services and amendments and changes thereto, from time to time (altogether as the "Legal Documents"). If you do not agree or otherwise understand the nature of these terms and conditions and the Legal Documents, do not access KNAKEN or use the corresponding KNAKEN Services.

By making use of KNAKEN services, you acknowledge and agree that: (1) you are aware of the risks associated with transactions of digital assets and their derivatives; (2) you shall assume all risks related to the use of KNAKEN services and transactions of digital assets and their derivatives; and (3) KNAKEN shall not be liable for any such risks or adverse outcomes.

1. IMPORTANT
It is your sole responsibility ensure that the computer used for the trade and liquidity of Digital Assets is secure. Due to web page display and safety considerations, it is recommended that Users utilize the latest version of Google Chrome to login to KNAKEN. Users shall bear the responsibility themselves for the losses or damages suffered as a result thereof.

2. PROHIBITED COUNTRIES
You must ensure that you are not resident of Prohibited Countries. Currently, KNAKEN does not provide Services, nor do we accept registration of Users or trade applications, in the following countries: North Korea, Cuba, Sudan, Syria, Iran, Crimea, Mainland China, Indonesia, Russia, Singapore, Venezuela, the United States, and Canada (altogether referred to as 'Prohibited Countries'). For the sake of clarification, the Prohibited Countries list is non-exclusive and is subject to change, at any time and from time to time, by KNAKEN in its absolute sole discretion may decide, taking into account legal and compliance considerations. You understand and acknowledge that if it is determined that you have given false representations of your location or place of residence, we reserve the right to take any appropriate actions in compliance with applicable laws and regulations, including termination of any Account immediately and liquidating any open positions. You undertake to inform KNAKEN at the earliest possible opportunity if you have become resident in any of the foregoing Prohibited Countries.

3. RISK DISCLOSURE
KNAKEN hereby reminds you of the following:
You must fully understand and assess the risks in digital assets trading before conducting any trading activities or using our services; you must assess your risk tolerance carefully before engaging in digital assets tradings. Notwithstanding the foregoing, when using our Services, you may face risks regarding policy, regulatory compliance, investment yield, trading, and force majeure, etc, the non-exhaustive details of which are as follows:
(a) POLICY RISK: Users of KNAKEN may encounter losses due to the amendment of national laws, regulations or macro-policies which may influence the normal trade of Digital Assets.
(b) COMPLIANCE RISK: Users of KNAKEN may encounter losses if the User’s Digital Assets trade violates national laws or regulations.
(c) INVESTMENT YIELD RISK: the Digital Asset market has its uniqueness: it never closes, with Digital Assets prices fluctuating in a very wide range. Users may encounter losses in the market.
(d) TRADING RISK: Your successful transfer is dependent on mutual assent of the parties to the transfer and KNAKEN does not commit to or guarantee any successful transfer.
(e) FORCE MAJEURE RISK: When natural disasters, war, strikes, epidemics, cyber-attacks and other unpredictable, unavoidable and unformidable situations occur, KNAKEN may not be able to operate normally and this may result in Users' losses. For the User’s losses caused by force majeure, KNAKEN will not assume any civil liabilities.

(f) RISK OF DELISTING: When a Digital Assets project party faces bankruptcy, liquidation and dissolution, or violates national laws & regulations, or under the request of the project party, KNAKEN will delist such Digital Assets, which may cause losses for Users.

(g) TECHNICAL RISK: Although the chance of technical fault is remote during the Digital Assets trade, we can not exclude such possibility. If such has happened, the User’s interests may be affected.

(h) OPERATIONS RISK: Users may face risks due to operational error, such as transfers to wrong accounts, violations in operation regulations, etc.

(i) RISK OF ACCOUNT BEING FROZEN: User’s account may be frozen or forcefully confiscated by judicial institutions in the event of debt fraud or alleged crimes.

4. Eligibility and Registration
1. By registering for a KNAKEN Account or using or otherwise accessing KNAKEN Services, you represent and warrant that: (i) as an individual, you are of legal age to form a binding contract under applicable laws; (ii) as an individual, legal person, or other organization, you have full legal capacity and sufficient authorizations to enter into these terms and conditions; (iii) you have not been previously suspended or removed from using KNAKEN Platform or related Services; (iv) you do not have an existing KNAKEN Account; (v) you are not resident, located in or otherwise attempting to access KNAKEN Platform or KNAKEN Services from, or otherwise acting on behalf of a person or legal entity that is resident or located in, a Prohibited Country; (vi) if you act as an employee or agent of a legal entity, and enter into these Agreements on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity and to access and use KNAKEN Platform and KNAKEN Services on behalf of such legal entity; and (vii) your use of KNAKEN Platform and KNAKEN Services will not violate any and all laws and regulations applicable to you or the legal entity on whose behalf you are acting, including but not limited to regulations on anti-money laundering, anti-corruption, and counter-terrorist financing.

2. All Users must apply for a KNAKEN Account before using KNAKEN Services. When you register a KNAKEN Account, you must provide the information identified in these terms and conditions or otherwise as requested by KNAKEN, and accept these terms and conditions, the Privacy Policy, and other KNAKEN Legal Documents. KNAKEN may refuse, in its absolute sole discretion, to open a KNAKEN Account for you. You agree to provide complete and accurate information when opening a KNAKEN Account, and agree to timely update any information you provide to KNAKEN to maintain the integrity and accuracy of the information. Each User (including natural person, business or legal entity) may maintain only one main account at any given time. The registration, use, protection and management of such trading accounts are equally governed by the provisions of these terms and conditions, unless otherwise stated in these terms and conditions or the Legal Documents.

3. Please note that there are legal requirements in various countries which may restrict the products and services that KNAKEN can lawfully provide. Accordingly, some products and services and certain functionality within KNAKEN Platform may not be available or may be restricted in certain jurisdictions or regions or to certain Users. You shall be responsible for informing yourself about and observing any restrictions and/or requirements imposed with respect to the access to and use of KNAKEN Platform and KNAKEN Services in each country from which KNAKEN Platform and KNAKEN Services are accessed by you or on your behalf. KNAKEN reserves the right to change, modify or impose additional restrictions with respect to the access to and use of KNAKEN Platform and/or KNAKEN Services from time to time at their discretion at any time without prior notification.

5. Account Security Management and User Information
1. The Users understand and agree that it is the sole responsibility of the Users to maintain the confidentiality of your KNAKEN account and password and are responsible for all activities conducted by your KNAKEN account (including, but not limited to, disclosure of information, release of information, online clicking for consent or submission of various rule agreements, online renewal of agreements or purchase service, etc.). You assume full responsibility for all actions and statements made using the Users’ accounts and passwords and agree to the following:

(a) Users should create passwords in accordance with relevant rules of KNAKEN and relevant prompts of KNAKEN (passwords include but are not limited to login passwords, fund passwords, mobile phone numbers bound when registering accounts, mobile phone verification codes received via mobile phones, Google verification, inter alia. Specific forms thereof may change; the same hereinafter. They should avoid choosing overly obvious words or dates as their passwords, such as Users' names, nicknames, birthdays, inter alia.

(b) The Users shall not disclose their accounts or passwords to any other person, nor shall they use the accounts or passwords of any other person. If the account of a User is illegally used by any other person due to factors not attributable to KNAKEN, e.g, hacking, virus or negligence on the part of the User, KNAKEN will not assume any responsibility whatsoever;

(c) the Users are prohibited from giving, lending, renting out, transferring or otherwise disposing of KNAKEN account to any third party without the consent of KNAKEN;

(d) KNAKEN recognizes the Users’ instructions through the Users’ accounts and passwords. The Users hereby confirm that all their conduct on KNAKEN after they log into KNAKEN using their accounts and passwords shall represent the Users themselves. The electronic information records generated by the operation of the Users’ accounts are all valid evidence of the Users’ conduct, and the Users shall bear any and all the responsibilities arising therefrom.

(e) The Users shall adopt appropriate measures to ensure the security of their accounts and passwords after KNAKEN notifies the Users of foreseeable security risk.

(f) Where any person uses the account and password of a User without due authorization, KNAKEN and the legally authorized subject reserve the right to hold the actual User jointly and severally liable.

2. If a User discovers that a third person fraudulently uses or embezzles the User's account and password, or such third person’s use of the User’s account involves any absence of requisite and due authorization, the User shall promptly notify KNAKEN in an effective manner and request KNAKEN to suspend relevant services; otherwise all the responsibilities arising from such use shall be borne solely by the User. Furthermore, the User understands that KNAKEN needs a reasonable period of time to take action on the User's request; KNAKEN shall not be held liable for any loss that may arise in connection with such third person’s use of the services before KNAKEN takes action.

3. Where KNAKEN deems on its unilateral and independent judgement that any event which undermines the security of trading has or may arise, KNAKEN shall have the right to suspend, interrupt or terminate all or part of the Services provided to a User under these terms and conditions, remove or delete registration information of such a User, seize illicit profits that the User may gain, without notifying such User and without assuming any responsibility to such User or any third party. The aforementioned events include:

(a) KNAKEN believes that the information provided by the User is not authentic, valid or complete, e.g, where the User registers with KNAKEN on the basis of identity information of any other person that the User uses without due authorization, or the information provided by the User for verification is inconsistent with relevant facts;

(b) KNAKEN uncovers any abnormal transaction by the User or any transaction by the User is suspicious or may be illegal;

(c) KNAKEN believes that the User’s account is suspected of being involved in money laundering, cash-out, pyramid selling, fraudulent use or other situations that KNAKEN believes are risky or unlawful;

(d) KNAKEN discovers that the User uses any illegal or improper technical means to engage in any activity that endangers the security of trading or affects fair trading, including tampering with transaction data, stealing customer information, stealing transaction data, attacking other registered accounts through KNAKEN, inter alia;

(e) KNAKEN believes that the User has violated any of the rules under these terms and conditions or the spirit thereof;

(f) KNAKEN believes that the User may have participated in, or currently participates in, pump and dump schemes, wash trading, self-trading, front running, quote stuffing, spoofing, layering, or other types of market manipulative behaviors;

(g) any other circumstances under which the User breaches these terms and conditions;

(h) other circumstances under which KNAKEN, based on its sole judgment, needs to suspend, interrupt or terminate all or part of the User services (including fee-based services) provided to Users under these terms and conditions and remove or delete the registration information on the ground of transaction security and other reasons.

4. When a User decides to cease to use his/her/its User account, the User shall first pay off all outstanding payables (including service fees, inter alia), then withdraw all available digital assets (if any) from the User account that are eligible for withdrawal, apply to KNAKEN for freezing the User account, and formally cancel the User account upon approval by KNAKEN.

5. The User agrees that if the identity verification procedure for his/her/its User account fails to be completed, KNAKEN has the right to terminate the supply of User account services without prior notice to the User, and KNAKEN may promptly suspend, close or delete the User account and all relevant materials and files in the User account.

6. The User agrees that the suspension, interruption or termination of the User's account does not represent the termination of the User's responsibilities. The User shall still be liable for any possible breach of agreement or damages that may arise due to or in connection with such User’s conduct during the time when such User uses the services provided by KNAKEN; furthermore, KNAKEN may continue keeping relevant information of the User.

6. KNAKEN Services
1. Notwithstanding the foregoing, the Services provided by KNAKEN as provided for under these terms and conditions shall include the following:
(a) User accounts: a User account will be generated upon a User’s registration with KNAKEN. The User account will record the User's activities on the Platform. The aforementioned User account shall be the sole account for the User to log on to KNAKEN and use any Services thereon.
(b) Digital asset trading: Users can submit digital asset trading instructions through KNAKEN and trade other digital assets with digital assets in their User Accounts.
(c) Digital assets deposit and withdrawal: a User can transfer digital assets from other addresses to designated addresses in the User Account, or transfer digital assets from the User’s account to other addresses.
(d) Updating trading status: the User confirms that the digital asset trading status confirmed by the User in accordance with KNAKEN services procedures on KNAKEN will become an irrevocable instruction for KNAKEN to conduct relevant transactions or operations for the User. The User agrees that the execution time of relevant instructions shall be based on the actual operation time of KNAKEN in KNAKEN system. The User agrees that KNAKEN has the right to handle relevant matters in accordance with these terms and conditions and/or the relevant dispute resolution rules of KNAKEN. Any dispute or loss caused by User’s failure to amend or confirm the transaction status, or to submit relevant applications in a timely manner, shall be borne by the User exclusively, and KNAKEN shall not bear any responsibility whatsoever.
(e) Transmission of trading instructions: KNAKEN transmits the User’s trading instructions at the time the User inputs the trading instructions and data. The User understands that KNAKEN is the matchmaker of digital asset transactions, not a buyer or seller participating in the transaction of digital asset transactions itself, and that KNAKEN does not provide, by itself, any services relating to the deposit or withdrawal of the legal tender of any country.
(f) Transaction inquiry: KNAKEN will record all of the User's operations on KNAKEN, regardless of whether the purpose of such operations is finally achieved. The User can query such transaction records under the User’s account in real time via User Account.
(g) Transaction security settings: KNAKEN has the right to carry out the settings of transaction-related matters from time to time based on considerations of such factors as transaction security, including transaction limits and transaction times, inter alia. The Users understand that the aforesaid settings of KNAKEN may cause certain inconveniences in trading, and the Users have no objection thereto.
(h) Handling of system failures: if KNAKEN uncovers a handling error caused by a system failure or any other reason, KNAKEN has the right to correct the error regardless of whether it is beneficial to KNAKEN or its Users. Where due to such error, the User actually receives more digital assets than the amount that such User should have received, then regardless of the nature and reason of the error, KNAKEN reserves the right to correct such improperly executed transaction and the User shall return the overcharged digital assets or perform other operations in accordance with the specific requirements of KNAKEN's notice to the User regarding the correction of such error. The User understands and agrees that KNAKEN will not assume any losses or responsibilities caused by the aforesaid handling error.
(i) Fiat services: KNAKEN cooperates with various partners to distribute Users with means to convert Fiat currency into digital assets via Global Bank Transfer, Credit/Debit Card, Settle cash and KNAKEN Mastercard.
(j) Other services which KNAKEN may provide from time to time including ATM services.

2. You acknowledge and agree that the above list is non-exhaustive in nature and the Services are provided by KNAKEN or KNAKEN's partner(s) on an 'as-is' basis, and may be subject to reduction, changes. cancellation, termination, and modifications by KNAKEN under its absolute sole discretion. KNAKEN Services may be varied in appearance, availability, pricing, operation, to residence of different countries, KNAKEN reserve the right to modify such Services in its absolute sole discretion, with or without notice to you. Each Service KNAKEN provides, provided, or will provide is subject to separate terms and conditions which may be contained under the Legal Documents, by using the Services, you are deemed to have read and understood the nature of those provisions.

3. In addition to the foregoing, the User acknowledges and agrees that KNAKEN shall have, at KNAKEN’s sole discretion, the right to suspend all or part of the Services, or the User’s access to all or part of the Services, whenever KNAKEN determines in KNAKEN’s sole discretion that:
(a) the User may have breached these terms and conditions; or
(b) the proper functioning of the KNAKEN Platform is in jeopardy.

4. For the purposes of Clause 15 (b), the proper functioning of KNAKEN will be in jeopardy in the following circumstances:

(a) when a computer or telecommunications network ceases to operate or function as a result of an accident;

(b) in the event of a Force Majeure Event which affects the provision of the Services;

(c) when KNAKEN’s assets or the User’s Assets, or the Platform, are the subject of an attempted or actual malicious attack which may, among other things, result in the theft or loss of such assets;

(d) when an event affects the proper functioning of critical systems relied upon by KNAKEN, including the pricing system or any other system necessary for the provision of the Services;

(e) when KNAKEN suspects unauthorized use of the Platform, or a breach of these terms and conditions or Applicable Laws and Regulations;

(f) when KNAKEN determines that it is necessary, in its sole discretion, to conduct investigations in light of its requirements under Applicable Laws and Regulations or to ensure the proper functioning of the Platform;

(g) when KNAKEN decides to cease handling a Digital Asset based on the results of a Hard Fork that causes a chain split or changes to a Digital Asset;

(h) when KNAKEN deems that the provision of the Services cannot continue due to changes in Applicable Laws and Regulations, social conditions, or factors outside KNAKEN’s control, including but not limited to when a Digital Asset is no longer deemed an “Acceptable Digital Asset” by the Competent Authorities; or

(i) when for any other reason, KNAKEN determines in its sole discretion that the suspension is necessary.

7. Rules of Services
1. When you use KNAKEN Services, you agree and undertake to comply with the following provisions:

(a) During the use of KNAKEN Services, all activities you carry out should comply with the requirements of applicable laws and regulations, these terms and conditions, and various guidelines of KNAKEN;

(b) Your use of KNAKEN Services should not violate public interests, public morals, or the legitimate interests of others, including any actions that would interfere with, disrupt, negatively affect, or prohibit other Users from using KNAKEN Services;

(c) You agree not to use the services for market manipulation (such as pump and dump schemes, wash trading, self-trading, front running, quote stuffing, and spoofing or layering, regardless of whether prohibited by law);

(d) Without written consent from KNAKEN, the following commercial uses of KNAKEN data are prohibited:

(i) Trading services that make use of KNAKEN quotes or market bulletin board information.

(ii) Data feeding or streaming services that make use of any market data of KNAKEN.

(iii) Any other websites/apps/services that charge for or otherwise profit from (including through advertising or referral fees) market data obtained from KNAKEN.

(e) Without prior written consent from KNAKEN, you may not modify, replicate, duplicate, copy, download, store, further transmit, disseminate, transfer, disassemble, broadcast, publish, remove or alter any copyright statement or label, or license, sub-license, sell, mirror, design, rent, lease, private label, grant security interests in the properties or any part of the properties, or create their derivative works or otherwise take advantage of any part of the properties.

(f) You may not (i) use any deep linking, web crawlers, bots, spiders or other automatic devices, programs, scripts, algorithms or methods, or any similar or equivalent manual processes to access, obtain, copy or monitor any part of the properties, or replicate or bypass the navigational structure or presentation of KNAKEN Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through KNAKEN Services; (ii) attempt to access any part or function of the properties without authorization, or connect to KNAKEN Services or any KNAKEN servers or any other systems or networks of any KNAKEN Services provided through the services by hacking, password mining or any other unlawful or prohibited means; (iii) probe, scan or test the vulnerabilities of KNAKEN Services or any network connected to the properties, or violate any security or authentication measures on KNAKEN Services or any network connected to KNAKEN Services; (iv) reverse look-up, track or seek to track any information of any other Users or visitors of KNAKEN Services; (v) take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of KNAKEN Services or KNAKEN, or the infrastructure of any systems or networks connected to KNAKEN services; (vi) use any devices, software or routine programs to interfere with the normal operation of KNAKEN Services or any transactions on KNAKEN Services, or any other person’s use of KNAKEN Services; (vii) forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to KNAKEN, or (viii) use KNAKEN Services in an illegal way.

2. By accessing KNAKEN Services, you agree that KNAKEN has the right to investigate any violation of these terms and conditions, unilaterally determine whether you have violated these terms and conditions, and take actions under relevant regulations without your consent or prior notice. Examples of such actions include, but are not limited to:

Blocking and closing order requests;
Freezing your account;
Reporting the incident to the authorities;
Publishing the alleged violations and actions that have been taken;
Deleting any information you published that are found to be violations.

3. In addition to the foregoing, due to the operation of Applicable Laws, KNAKEN prohibits certain businesses to be conducted on or otherwise utilize KNAKEN Services, KNAKEN has the right to monitor your transaction and/or account activities to determine, under our absolute sole discretion, if your use of KNAKEN Services constitutes any of the prohibited businesses. These prohibited businesses include:

(a) Unlicensed money service businesses, including but not limited to, payment services providers, the sale of money orders or cashier’s checks or any money transmitter activities

(b) Adult content and services, including but not limited to, any types of pornography and other obscene materials (including literature, imagery and other media); sites offering any sexually-related services such as prostitution, escorts, pay-per view, adult live chat features

(d) Religious and/or spiritual organizations

(e) Unlicensed sale of weapons of any kind, including but not limited to, firearms, ammunition, knives, explosives, or related accessories

(f) Certain regulated products and services, including but not limited to, marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services, and toxic, flammable, and radioactive materials

(g) Pseudo-pharmaceuticals - Companies manufacturing and or selling untested or unapproved pharmaceuticals

(h) Drugs and Drug Paraphernalia, including but not limited to, sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers, and hookahs

(i) Gambling activities, including but not limited to, sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing

(j) Money-laundering, fraud, terrorist financing, or any other type of financial crimes

(k) Any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program

(l) Goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction

(m) Layaway systems, or annuities

(n) Counterfeit or unauthorized goods, including but not limited to, sale or resale of fake or “novelty” IDs, sale of goods or services that are illegally imported or exported or which are stolen

(o) Wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit

(p) Purchasing goods of any type from hidden service markets or “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods)

(q) Any other matters, goods, or services that from time to time we deem to be unacceptable or of high risk, and which, for example, may be restricted by our bank or payment partners; or

(r) Any other unlawful activities which would violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where we conduct business, or which would involve proceeds of any unlawful activities

(s) Shell Banks or Financial Institutions that have customers that are shell banks

(t) Entities with bearer share ownership

(u) Defense industry, firearms & munitions manufacturers

(v) Nuclear Energy

(w) Restricted financial services, including but not limited to credit repair, debt settlement, refinance, bail bonds, collections agencies

(x) Transactions or business involving ivory and protected species

4.In the event that we learn or reasonably suspect, in our sole discretion, that your account is or may be associated with any of the Prohibited Businesses as set forth above, we will consider it to be a violation of these terms and conditions and may suspend or terminate your account, including by canceling any clawback transactions or freezing your funds immediately without notice, or taking any other action required by a law enforcement agency, regulator, or any other authority. We reserve the right to report any such suspected or actual Prohibited Businesses to a law enforcement agency, regulator, or any other authority.

8. Account Restrictions
1. In addition to other similar provisions contained under these terms and conditions and the Legal Documents, you agree and acknowledge that we have the right, at any time and in our absolute sole discretion, to implement the following measures on your Account:

(a) Blocking and closing order requests;

(b) Freezing your account and any assets contained therein;

(c) Clawback and/or retrieve any profits obtained in violation of these terms and conditions or other Legal Documents to compensate for any losses suffered as a consequence thereto;

d) Publishing the alleged violations and actions that have been taken;

(e) Deleting any information you published that are found to be violations.

If we suspect, in our absolute sole discretion, inter alia, any of the following:

(a) The Account is in violation of any of these terms and conditions or the Legal Documents;

(b) The Account is in violation of any applicable laws or regulations;

(d) The Account is in violation of a regulatory authority requirement, court order, or valid subpoena;

(e) The Account is, or is related to any account that is, subject to any pending litigation, investigation, or governmental proceeding;

(f) The Account has a balance that needs to be reconciled for any reason;

(g) If KNAKEN believes that an unauthorized person is attempting to gain access to your account;

(h) If KNAKEN believes that you are using your credentials or other account information in an unauthorized or inappropriate manner;

(i) If KNAKEN believes that your account is related to any Prohibited Businesses as set forth in Clause 7.3;

(j) If KNAKEN believes that there are suspicious and/or fraudulent activities on your account; or

(k) The Account has not been accessed in over one year.

2. You agree and acknowledge that we have the right to immediately investigate and implement necessary measures on your Account and any Account related thereto, if we suspect, in our sole discretion, that any such account has committed a violation of these terms and conditions, the Legal Documents, or the Applicable Laws or Regulations.

9. Fees
1. KNAKEN has the right to set Service charges according to these terms and conditions. KNAKEN also has the right to formulate and adjust the Service charges, and set specific service charges for you to use the Service(s) and terminate any promotional efforts at any time and from time to time, at KNAKEN's absolute sole discretion.
2. Unless otherwise stated or agreed upon, you agree that KNAKEN has the right to deduct the above-mentioned service charges directly from the assets of your account.
3. At KNAKEN's sole discretion, regional or country-specific pricing may vary based on the User’s residence or location.

10. Liabilities
1. KNAKEN is responsible for providing KNAKEN services to you according to the status quo and availability. KNAKEN, however, makes no express or implied warranty with respect to the Services, including but not limited to the applicability, absence of error or omission, sustainability, accuracy, reliability, suitability for a particular purpose of the Services. At the same time, KNAKEN makes no commitment or guarantee to the validity, accuracy, correctness, reliability, quality, stability, integrity and timeliness of the technology and information involved in the KNAKEN service.

2. Notwithstanding the afore, KNAKEN is responsible for reviewing the text of information released by the digital asset project owners, however it does not guarantee or assume any responsibility for the accuracy, completeness or legality of such information. The Users shall make decisions based on their independent judgment and shall engage their own advisors and/or conduct their own research. If Users conduct digital asset transactions based on such information, the risks arising therefrom shall be borne exclusively by the Users themselves, and the Users have no right to propose any legal claim to KNAKEN on the basis of such risks. Any dispute between a User and the digital asset project owner arising from or related to transaction shall be settled by and between the parties to the dispute themselves, and the Platform shall not bear any transaction risk or legal liability whatsoever.

3. Disclaimer of warranties: to the maximum extent permitted under applicable law, KNAKEN services, KNAKEN materials and any product, service or other item provided by or on behalf of KNAKEN are offered on an “as is” and “as available” basis, and KNAKEN expressly disclaims, and you waive, any and all other warranties of any kind, whether express or implied, including, without limitation, warranties of merchantability, fitness for a particular purpose, title or non-infringement or warranties arising from course of performance, course of dealing or usage in trade. Without limiting the foregoing, KNAKEN does not represent or warrant that the site, KNAKEN services or KNAKEN materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. KNAKEN does not guarantee that any order will be executed, accepted, recorded or remain open. Except for the express statements, agreements and rules set forth in these terms and conditions, you hereby acknowledge and agree that you have not relied upon any other statement or agreement, whether written or oral, with respect to your use and access of KNAKEN services. Without limiting the foregoing, you hereby understand and agree that KNAKEN will not be liable for any losses or damages arising out of or relating to: (a) any inaccuracy, defect or omission of digital assets price data, (b) any error or delay in the transmission of such data, (c) interruption in any such data, (d) regular or unscheduled maintenance carried out by KNAKEN and service interruption and change resulting from such maintenance, (e) any damages incurred by other users’ actions, omissions or violation of these terms and conditions, (f) any damage caused by illegal actions of other third parties or actions without authorized by KNAKEN; and (g) other exemptions mentioned in disclaimers and platform rules issued by KNAKEN.

4. Disclaimer of damages and limitation of liability: to the maximum extent permitted by applicable law, in no event will KNAKEN and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors be liable for any incidental, indirect, special, punitive, consequential or similar damages or liabilities whatsoever (including, without limitation, damages for loss of data, information, revenue, profits or other businesses or financial benefits) arising out of KNAKEN services, any performance or non-performance of KNAKEN services, or any other product, service or other item provided by or on behalf of KNAKEN and its affiliates, whether under contract, statute, strict liability or other theory even if KNAKEN has been advised of the possibility of such damages except to the extent of a final judicial determination that such damages were a result of KNAKEN’s gross negligence, fraud, willful misconduct or intentional violation of law. The maximum liability, insofar as it already applies, is limited and will not exceed EUR 50,000.

Notwithstanding the foregoing, in no event will the liability of KNAKEN, its affiliates and their respective shareholders, members, directors, officers, employees, attorneys, agents, representatives, suppliers or contractors arising out of services offered by or on behalf of KNAKEN and its affiliates, any performance or non-performance of KNAKEN services, or any other product, service or other item, whether under contract, statute, strict liability or other theory, exceed the amount of the transaction fees paid by you to KNAKEN under these terms and conditions in the three-month period immediately preceding the event giving rise to the claim for liability.

5. You agree to indemnify and hold harmless KNAKEN, their affiliates, contractors, licensors, and their respective directors, officers, employees and agents from and against any claims, actions, proceedings, investigations, demands, suits, costs, expenses and damages (including attorneys’ fees, fines or penalties imposed by any regulatory authority) arising out of or related to (i) your use of, or conduct in connection with, KNAKEN Services, (ii) your breach or our enforcement of these terms and conditions, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of KNAKEN Services. If you are obligated to indemnify KNAKEN,, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these terms and conditions, KNAKEN will have the right, in its sole discretion, to control any action or proceeding and to determine whether KNAKEN wishes to settle, and if so, on what terms.

11. Termination of Services
1. You agree that KNAKEN shall be entitled in its sole and absolute discretion, without prior notice, to suspend, terminate the provision of part or all of the KNAKEN services to you for any reason, as well as suspend or permanently freeze (cancel) your account in KNAKEN, and shall not be liable to you or any third party for so doing, however, KNAKEN has the right to retain the trade data, history and other information relating to the account, as well as the application and use of such information. In the event of the following circumstances, KNAKEN has the right to terminate these terms and conditions directly by canceling the account, and has the right to permanently freeze (cancel) your account’s authority on KNAKEN:
(a) After KNAKEN terminates the services provided to you, and you are suspected of re-registering as a user of KNAKEN, directly or indirectly or in the name of others;

(b) The email address that you have provided does not exist or cannot receive emails, and there is no other way to contact you, or KNAKEN has notified you to change your email information via another contact method, and you still have not changed to a valid email address within three working days after the notice from KNAKEN;

(d) When the Agreement (including the rules) has changed, you should expressly inform KNAKEN that you are not willing to accept the new service agreement; and

(e) Other circumstances in which KNAKEN believes that the service should be terminated. Upon the termination of your account services or the permanent freezing (cancellation) of your account on KNAKEN, KNAKEN shall have no obligation to retain or disclose to you any information in your account, or to forward to you or a third party any information you have not read or sent or forwarded to.

2. You agree that KNAKEN shall have the right to immediately suspend your KNAKEN Account (and any accounts beneficially owned by related entities or affiliates), freeze or lock assets or funds in all such accounts, and suspend your access to KNAKEN for any reason including if KNAKEN suspects any such accounts to be in violation of these terms and conditions, the Legal Documents, or any applicable laws and regulations. You agree that KNAKEN shall not be liable to you for any permanent or temporary modification of your KNAKEN Account, or suspension or termination of your access to all or any portion of KNAKEN Services. KNAKEN shall reserve the right to keep and use the transaction data or other information related to such KNAKEN Accounts. The above account controls may also be applied in the following cases:

(a) The KNAKEN Account is subject to a governmental proceeding, criminal investigation or other pending litigation;

(b) We detect unusual activities in the KNAKEN Account;

(d) We are required to do so by a court order or command by a regulatory/government authority.

3. In case of any of the following events, KNAKEN shall have the right to directly terminate these terms and conditions by cancelling your KNAKEN Account, and shall enjoy the right but not the obligation to permanently freeze (cancel) the authorizations of your KNAKEN Account on KNAKEN and withdraw the corresponding KNAKEN Account thereof:

(a) after KNAKEN terminates services to you;

(b) you allegedly register or register in any other person’s name as a KNAKEN User again, directly or indirectly;

(d) when these terms and conditions are amended, you state your unwillingness to accept the amended Terms by applying for cancellation of your KNAKEN Account or by other means

(e) you request that KNAKEN Services be terminated; and

(f) any other circumstances where KNAKEN deems it should terminate KNAKEN Services.

34) If KNAKEN is informed that any assets or funds held in your KNAKEN Account are stolen or otherwise are not lawfully possessed by you, KNAKEN may, but has no obligation to, place an administrative hold on the affected funds and your KNAKEN Account. If KNAKEN does lay down an administrative hold on some or all of your funds or KNAKEN Account, KNAKEN may continue such hold until such time as the dispute has been resolved and evidence of the resolution acceptable to KNAKEN has been provided to KNAKEN in a form acceptable to KNAKEN. KNAKEN will not involve itself in any such dispute or the resolution of the dispute. You agree that KNAKEN will have no liability or responsibility for any such hold, or for your inability to withdraw Digital Assets or funds or execute trades during the period of any such hold.

4. Except as set forth in these terms and conditions, once a KNAKEN Account is closed/withdrawn, all remaining account balance (which includes charges and liabilities owed to KNAKEN) will be payable immediately to KNAKEN. Upon payment of all outstanding charges to KNAKEN (if any), Users may, upon determination by KNAKEN as to the User's eligibility, withdraw all Digital Assets or funds from the account.

5. KNAKEN maintains full custody of the assets, funds and User data/information which may be turned over to governmental authorities in the event of KNAKEN Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these terms and conditions.

6. Notwithstanding any provision of these terms and conditions, KNAKEN may provide a written notice requiring you to close all of your open positions and withdraw all of your assets from your KNAKEN Account within a limited period of time as determined by KNAKEN. In the event that you fail to do so, KNAKEN may, in its absolute discretion and without prior notice to you:

(a) deem your KNAKEN account as a dormant account;

(b) close any open positions in any KNAKEN products;

(d) close a dormant account at any time, and KNAKEN will not be liable for any loss, damage or expense incurred by you as a result of the closure of a dormant account unless there was fraud or willful default by KNAKEN.

6. In addition to the foregoing, you understand and agree that:

(a) If you have committed any illegal acts or violations of these terms and conditions during the period of using the provided Service, KNAKEN may still assert rights against you in accordance with these terms and conditions.

(b) When KNAKEN suspends or terminates the provision of services to you, KNAKEN will handle your trading data recorded before service suspension or termination under the following principles. You shall handle or bear any disputes, losses or expenses incurred by yourself, and shall ensure that KNAKEN is exempted from any losses or any expenses.

(c) Where you have entered into a purchase contract with other members before the suspension or termination of the Service but the contract has not been actually performed, KNAKEN shall have the right to delete relevant information of such a purchase contract and the trading of digital assets thereof.

(d) Upon the termination of your account services or the permanent freezing (cancellation) of your account on KNAKEN, KNAKEN shall have no obligation to retain or disclose to you any information in your account, or to forward to you or a third party any information you have not read or sent or forwarded to; and

12. Intellectual Property
1. All intellectual properties included in KNAKEN, including, but not limited to, website logos, databases, website design, text and graphics, software, photos, videos, music, sounds and any combinations of the aforementioned files, and the intellectual property rights of software compilation, associated source code and software (including small applications and scripts) shall be owned by KNAKEN. You may not copy, modify, copy, transmit or use any of the foregoing materials or content for commercial purposes.

2. Upon accepting these terms and conditions, it shall be deemed that you, on the basis of your own free will, have transferred and assigned exclusively and free of charge to KNAKEN all copyright of any form of information that you have published on KNAKEN, including, but not limited to copyrights, distribution rights, lease rights, exhibition rights, performance rights, projection rights, broadcasting rights, information network communication rights, production rights, adaptation rights, translation rights, compilation rights and other transferable rights that copyright owners are entitled to, and KNAKEN shall have the right to sue for any infringement on such copyright and obtain full compensation for such infringement. These terms and conditions shall apply to any content that is published by you on KNAKEN and is protected by copyright law, regardless of whether the content is generated before or after the signing of these terms and conditions.

3. You shall not illegally use or dispose of the intellectual property rights of KNAKEN or any other person during your use of the services offered by KNAKEN. For any information that you publish on KNAKEN, you may not publish or authorize other websites (or media) to use such information in any manner whatsoever.

4. You will not be deemed to have been transferred any intellectual property rights to yourself by KNAKEN when you log in to KNAKEN or use KNAKEN's Service.

13. No Professional Advice
1. KNAKEN is not your broker, intermediary, agent, or advisor and has no fiduciary relationship or obligation to you in connection with any trades or other decisions or activities effected by you using KNAKEN Services. No communication or information provided to you by KNAKEN is intended as, or shall be considered or construed as, investment advice, legal advice, tax advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in these terms and conditions and Legal Documents, all trades are executed automatically, based on the parameters of your order instructions and in accordance with posted trade execution procedures, and you are solely responsible for determining whether any investment, investment strategy or related transaction is appropriate for you according to your personal investment objectives, financial circumstances and risk tolerance, and you shall be solely responsible for any loss or liability therefrom. We recommend consultation with your financial, legal, and/or tax professionals regarding your specific situation. KNAKEN does not recommend that any Digital Asset should be bought, earned, sold, or held by you, nor does KNAKEN warrant any Services that are or should be available in any jurisdictions. Before making the decision to buy, sell or hold any Digital Asset, you should conduct your own due diligence and consult your financial advisors prior to making any investment decision. KNAKEN will not be held responsible for the decisions you make to buy, sell, or hold Digital Assets based on the information provided by KNAKEN.

14. Governing Law
These terms and conditions and the Legal Documents shall be shall be interpreted and governed in accordance with the laws of the Netherlands and are subject to the exclusive jurisdiction of the competent Court of Rotterdam in the Netherlands.

Know-Your-Customer and Anti-Money-Laundering Policy

15. Identity Information
1. We ensure that we will comply with the Know-Your-Customer and Anti-Money-Laundering laws and regulations, and will not knowingly violate the Know-Your-Customer and Anti-Money-Laundering policies. To the extent of our reasonable control, we will adopt necessary measures and technology to provide you with services that are safe and secure, to protect you against the loss caused by money laundering to the greatest extent possible. The contents of Know-Your-Customer and Anti-Money-Laundering policies are as follows:

(a) We promulgate and update Know-Your-Customer (KYC) and Anti-Money-Laundering (AML) policies to meet the standards set by relevant laws and regulations;

(b) We promulgate and update some parts of the guidelines and rules in connection with the operation of this Website, where our staff will provide services in accordance with these guidelines and rules;

(c) We design and complete the procedures for internal monitoring and trade control, such as rigorous identity authentication procedures, and forming a professional team responsible for anti-money laundering;

(d) We adopt a risk-prevention-based approach to carry out due diligence and continuous supervision in connection with customers;

(e) Review and regularly inspect existing trades;

(f) To report suspicious trades to the competent authorities.

2. You must provide KNAKEN with complete and accurate identity information and supporting documents, including, but not limited to, proof of identity, proof of address, contact details, etc.

3. KNAKEN will undertake due diligence to verify information provided by you, in circumstances where KNAKEN, in its absolute sole discretion, deems such information may be inaccurate or incomplete, KNAKEN shall be entitled to request further supporting documents from you in order to ensure the truthfulness and accuracy of User identity. You agree and understand that failure to provide these documents may result in full or partial restrictions on using KNAKEN Services.

4. You hereby undertake to update in a timely manner to any changes in your identity information to ensure that the identity information provided by you are up-to-date, accurate, and complete. It is your responsibility to make sure that any identity information and supporting documents thereof provided by you are most up-to-date and valid.

5. In accordance with the laws and regulations of relevant jurisdictions and in light of the nature of entities concerned, the content of your information as it is collected by us may vary.

6. In principle, we will collect the following information of yours if you have registered as an individual:

(a) Basic personal information: your name, address (and permanent address, if the two are different), date of birth and nationality, and other available information. Identity authentication shall be based on documents issued by the official or other similar authorities, such as passports, identity cards or other identity documents as are required and issued by relevant jurisdictions.

(b) Valid photo: before you sign up, you must provide a photograph showing you holding your identity document in front of your chest; and

(c) Contact information: telephone/mobile phone number and valid email address.

7. If you are a company or any other type of legal entity, we will collect the following information of yours to determine the final beneficiary of your account or your trust account.

(a) Your corporation enrollment and registration certificates of the company; a copy of the articles of association and memorandum of the company;

(b) The detailed certification materials of the ownership structure and ownership description of the company, and the decision of the board of directors on designating the authorized agent of the company responsible for the opening and execution of the account of the company within the website;

(c) The identity documents of the directors, major shareholders of the company as well as the authorized signatory for the company's account with the website, as required in accordance with relevant rules;

(d) The company's main business address, and the company's mailing address if it is different from the main business address of the company

(e) Other certification documents, documents issued by competent authorities and other documents we may deem necessary in light of the laws and regulations of relevant jurisdictions and in light of the specific nature of your entity.
(f) The identification of the ultimate beneficiary and controller of the account shall be based on the determination of which individuals ultimately own or control the direct customer and/or the determination that the ongoing trade is performed on the behalf of others. If you are a business enterprise, the identity of major shareholders thereof (for example, those holding 10 % or more of the voting equity in such business enterprise) shall be verified.

16. AML
1. KNAKEN will employ reasonable measures to supervise trading activities carried out on the platform in order to detect and prevent suspicious trading activities. In the meantime, KNAKEN shall have the right to take appropriate actions, as KNAKEN may, in its absolute sole discretion, determine, to respond to any suspicious activities carried out by the Users, including:

(a) We may report suspicious trading activities to the regulating authorities to stay in compliance with applicable laws and regulations;

(b) We constantly set and adjust daily trading and cash withdrawal limits based on security requirements and actual state of trade;

(c) We may temporarily restrict trading activity(ies) and freeze any Account pending further investigations, in order to protect Assets of the User and KNAKEN, and/or to comply with any ongoing judicial/regulatory investigations and/or requests;

(d) We constantly monitor your activities and trading behaviour. If trading occurs too frequently in an account registered by you, or is beyond circumstances reasonable to you, KNAKEN will assess and determine whether such trades are suspicious.

2. If we identify a specific trade as suspicious on the basis of our assessment, we may adopt such restrictive measures as suspending trade or denying trade, and if it is possible, we may even reverse trade as soon as possible, and report to competent authorities, without, however, notifying you;

17. Sanctions
1. We reserve the right to reject registration applications by applicants that do not comply with the international standards against money laundering or who may be regarded as political and public figures; we reserve the right to suspend or terminate a trade identified as suspicious based on our own assessment, which, however, does not breach any of our obligations and duties to you. For details on locations where KNAKEN refuses registration or to provide Services, we kindly refer to section entitled 'Prohibited Countries', above.

Miscellaneous

A. Independent Parties. KNAKEN is an independent contractor but not an agent of you in the performance of these terms and conditions. these terms and conditions shall not be interpreted as facts or evidence of an association, joint venture, partnership, or franchise between the parties.
B. Entire Agreement. these terms and conditions constitute the entire agreement between the parties regarding use of KNAKEN Services and will supersede all prior written or oral agreements between the parties. No usage of trade or other regular practice or method of dealing between the parties will be used to modify, interpret, supplement, or alter the terms herein.
C. Interpretation and Revision. KNAKEN reserves the right to alter, revise, modify, and/or change these terms and conditions at any time. All changes will take effect immediately upon being published on KNAKEN websites. It is your responsibility to regularly check relevant pages on our websites/applications to confirm the latest version of these terms and conditions. If you do not agree to any such modifications, your only remedy is to terminate your usage of KNAKEN Services and cancel your account. You agree that, unless otherwise expressly provided in these terms and conditions, KNAKEN will not be responsible for any modification or termination of KNAKEN Services by you or any third party, or suspension or termination of your access to KNAKEN Services.
D. Force Majeure. KNAKEN will not be liable for any delay or failure to perform as required by these terms and conditions because of any cause or condition beyond KNAKEN’s reasonable control.
E. Severability. If any portion of these terms and conditions is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these terms and conditions, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.
F. Assignment. You may not assign or transfer any right to use KNAKEN Services or any of your rights or obligations under these terms and conditions without prior written consent from KNAKEN, including any right or obligation related to the enforcement of laws or the change of control. KNAKEN may assign or transfer any or all of its rights or obligations under these terms and conditions, in whole or in part, without notice or obtaining your consent or approval.
G. Third-Party Website Disclaimer. Any links to third-party websites from KNAKEN Services does not imply endorsement by KNAKEN of any product, service, information or disclaimer presented therein, nor does KNAKEN guarantee the accuracy of the information contained on them. If you suffer loss from using such third-party product and service, KNAKEN will not be liable for such loss. In addition, since KNAKEN has no control over the terms of use or privacy policies of third-party websites, you should read and understand those policies carefully.

Terms and Conditions

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