Risk Disclosure

Updated June 10, 2022

Introduction

The terms of this Risk Disclosure are incorporated into and constitute an inseparable part of the Finblox Terms of Use. The terms in this Risk Disclosure shall have the same meaning assigned to them in the Terms of Use unless otherwise specified.

BEFORE USING FINBLOX AND ANY OF ITS SERVICES, PLEASE TAKE THE TIME TO FULLY UNDERSTAND AND CONSIDER THE RISK INVOLVED IN OUR RISK DISCLOSURE PAGE. THE RISKS LISTED ARE INTENDED TO PROVIDE YOU WITH GENERAL INFORMATION SURROUNDING THE RISKS ASSOCIATED WITH USING DIGITAL ASSETS AND THE FINBLOX PLATFORM AND ITS SERVICES SPECIFICALLY.

USING DIGITAL ASSETS COULD INVOLVE A SUBSTANTIAL RISK OF LOSS AND IS NOT RECOMMENDED FOR ANYONE THAT IS NOT FULLY KNOWLEDGEABLE. IT IS RECOMMENDED THAT YOU NEVER RISK MORE THAN YOU ARE WILLING TO LOSE.  THE RISK DISCLOSURE STATEMENT DISCUSSES SOME OF THE PRINCIPAL RISKS ASSOCIATED WITH DIGITAL ASSETS BUT DOES NOT AND CAN NOT INFORM YOU OF EVERY RISK INVOLVED IN HOLDING, TRADING, BUYING, OR ENGAGING IN DIGITAL ASSETS. THUS FINBLOX RECOMMENDS THAT YOU, RESEARCH ON YOUR OWN ADDITIONAL AND APPLICABLE RISKS INVOLVING THE USE OF DIGITAL ASSETS TO MAKE PROPER DECISIONS.

BY ACCESSING AND USING FINBLOX SERVICES, YOU HEREBY REPRESENT AND WARRANT THAT YOU HAVE READ THE FOLLOWING RISK DISCLOSURE.

1. General

A. Risk of Loss

YOU ACCEPT THE RISK OF LOSS ASSOCIATED WITH THE LOSS OF YOUR DIGITAL ASSETS AS A RESULT OF USING THE SERVICES. WHILE USING THE SERVICES, YOUR DIGITAL ASSETS ARE NOT SUBJECT TO ANY REGULATORY OR CONSUMER PROTECTION SCHEME OR ARRANGEMENT FOR PROTECTION AGAINST LOSSES. THERE MAY BE PARTIAL OR TOTAL LOSS OF YOUR DIGITAL ASSETS ARISING OUT OF THE SERVICES, INCLUDING DUE TO THE NATURE OF THE SERVICES AND INCLUDING REASONS OUTSIDE THE CONTROL OF FINBLOX. FINBLOX IN NO CIRCUMSTANCES SHALL BE LIABLE TO YOU FOR SUCH LOSSES, AND THERE MAY BE NO REMEDY AVAILABLE IN CASE OF LOSS OF YOUR DIGITAL ASSETS, INCLUDING AND UP TO A TOTAL LOSS OF DIGITAL ASSETS.

B. Limited Services

Finblox will not offer any advice, recommendations, or invite you to deal in Digital Assets or aid you in the allocation of your Assets within our services.  Any opinions, news, research, analyses, prices, or other information contained on the Finblox platform and Services are provided as general market commentary and do not constitute investment or trading advice or any other type of professional advice. Finblox will not be responsible for any loss arising from any investment or trade based on any information provided on our webpage or any of our Services or by any of its employees and executives.

You confirm that all decisions in your Account with all Digital Assets are made without reliance on any information or advice that Finblox or its representatives may have provided to you.

You are solely responsible for evaluating the suitability and commercial reasonableness of all actions using Finblox Services.

You acknowledge that Finblox is not in a fiduciary relationship with you. And should carefully consider your financial capacity and situation before making any financial decisions, and only use funds that you can afford to lose.

Your account with Finblox is not a deposit or investment account. Digital assets deposited or otherwise held in your account are not protected by any other government insurance program but by our third-party insurance partner. Finblox is not a bank, credit union, trust, or any other type of financial institution.

Finblox strongly recommends that before making any financial decisions including buying, trading, holding, or using Digital Assets obtain independent legal, tax, or financial advice as we do not provide these under any circumstances. You are solely responsible to assess whether such risks are appropriate for you and for understanding the significant risks associated with Digital Assets.

2. Risks Related to Digital Assets

The risk of loss in investing, borrowing, trading, or holding Digital Assets can be substantial as these Assets are by nature highly volatile. Financial loss can incur when dealing with Digital Assets.

Digital Asset value can be highly unpredictable as the price can significantly fluctuate within a short time. Along with this extreme volatility and significant price fluctuations, their value may also not be guaranteed or backed by any jurisdiction or government.

Digital Asset value can also be affected by events, including interest rates, changes in the taxation of income and capital, world markets, foreign exchange rates, regulatory and legislative changes, market sentiments, and technological developments.

Digital Assets are not legal tender, and there is no guarantee that any person shall agree to accept them for their intended purpose at any time in the future. There can also be no guarantee that you would be able to sell or exchange your Digital Assets as the market liquidity and availability may be disrupted or limited.

The nature of Digital Assets may entice an increased risk of fraud or cyber-attack, including rollback attacks or blockchain reorganizations.

You thus accept and understand that due to the nature of Digital Assets and the underlying technology, you are exposed to these and other risks over which Finblox has no control, and which are entirely passed on to you as a User, including but not limited to other risks such as the continuing evolution of Digital Assets and effect of global regulatory developments; potential price manipulation; a lack of secondary markets for certain virtual assets; risk of the loss of virtual assets; other hacking and technology-related risks; and any new risks which may arise from investing in new types of virtual assets.

Digital asset transactions are not reversible. Erroneous transactions may result in irreversible loss of your funds. Where you hold Digital Assets in your on-chain Digital wallet, you must be very cautious in maintaining your private keys and backup phrases. Loss of private keys and backup phrases may result in irreversible loss of your funds. Due to the decentralized nature of blockchain, there is no central party that may restore your private keys, extract your funds, or reimburses you for your losses.

Any third party gaining access to your Digital wallet can extract your funds, and you may not be able to identify or find such parties. Never provide any person with your wallet’s private keys or backup phrase.

Once you send Digital Assets to an address, there is a risk that you may lose access to, and any claim on, those Digital Assets either indefinitely or permanently because, for example, an address may have been entered incorrectly. Losses due to fraudulent or accidental transactions may not be recoverable.

Digital Assets which are meant to mimic or follow the price of another asset (e.g. any fiat currency, or commodity) may not always accurately reflect such prices, which can fluctuate above or below their intended value.

Digital Assets are largely unregulated in most parts of the world, and limited protection (if any) may be afforded to users in the event of a loss. Digital exchanges and service providers may not be subject to regulatory supervision.

Different jurisdictions may treat Digital Assets differently, and the cross-border nature of the blockchain and Digital Assets may make them subject to the laws of various jurisdictions. You must always make sure that any use you make of any Digital asset is compliant with all applicable laws.

Different jurisdictions may impose specific tax rules and treatments on Digital Assets. You must ensure you understand the tax implications of your activities, and always comply with all reporting and payment obligations applicable to you.

Blockchain technologies are susceptible to a wide variety of risks, from malicious attacks to technical difficulties and failures, which may result in loss of funds transacted or held over the blockchain, increased transaction costs, or delays in execution.

3. Risks Related to Using Finblox’s Services

Finblox may suffer technological difficulties which may prevent the access or use of your account, or delay your transactions.

Finblox’s top priority is the security of its systems, Digital Assets held by it, and its users’ personal information. However, Finblox (and third parties having authorized access or control over such Assets) may suffer malicious attacks and security breaches, which may result in the compromise of such Assets.

We try to ensure that the information on this site is correct, but we do not give any express or implied warranty as to its accuracy. We do not accept liability for any error or omission.

Finblox deploys Digital Assets held by it in a variety of income-generating activities, including lending them to third parties and transferring them to external platforms and systems. Finblox conducts in-depth due diligence analysis of any such third party or platform, including security, financial and credibility tests. However, Finblox can not guarantee that they shall not suffer any breaches, lose such Assets, or will be able to return any and all Assets to Finblox, resulting in loss of the Assets. By engaging with Finblox you thus acknowledge that there is a risk that Finblox may become unable to return the Digital Assets to its users, in which case your Digital Assets may be lost, in whole or in part, and for such loss, Finblox shall not be liable.

The Rewards Finblox users earn for transferring their Digital Assets are determined based on a variety of considerations, including market conditions, demand and supply of a particular Digital asset, interest rates in the fiat markets, and Finblox’s inventories and cost of capital. While Finblox strives to maintain stable reward rates over time, any change in circumstances may bring about changes to such rates, and in some events, the rates may drop to 0%. Users will be updated on any change to reward rates weekly and may choose to discontinue using the FinEarn program at any time.

Finblox does not offer custodial or fiduciary services to you and does not hold your Digital Assets as your custodian or on your behalf. We may lend, sell, pledge, hypothecate, assign, invest, use, commingle or otherwise dispose of Assets to counterparties, using our best commercial and operational efforts to prevent losses.

Legislative and regulatory changes or actions at the state, national, or international level may adversely affect Finblox’s ability to continue to provide some or all of its services in any jurisdiction, continue to support any particular Digital asset, or continue to serve any specific user or group of users. Finblox can not guarantee the continued and uninterrupted provision of the services to you. Finblox’s systems, as well as those of third parties utilized by Finblox, may be subject to errors, bugs, disruptions, interruptions, and communication failures, which may result in delays, errors, temporary suspension, or inaccessibility of the services, which might cause damages or losses to the user of the services.