This risk warning is provided to Users of Itez in addition to the risks highlighted by us in the Terms of Service and in accordance with best practice standards. The terminology used in this warning corresponds with the terminology used in the Terms of Service.
Operations in crypto-assets involve a substantial risk of loss and are not suitable for every person. Therefore, before utilising the Services, or engaging in any transactions with Itez, You should carefully consider if any of our Services are suitable for You, taking into account Your goals and risk tolerance along with the nature, volatility, and legality of crypto-assets.
You acknowledge and agree that You will make Your own assessments and will not use any of our Services or initiate any transactions involving crypto-assets on the platform provided by Itez unless You fully understand the nature of these activities and the extent of Your exposure to risk. Additionally, You agree not to hold us responsible for any losses or damages incurred as result of such risks.
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Volatility, Market, and Liquidity Risks
The valuation of crypto-assets and related products may fluctuate severally, exposing You to potential decreases in the value of Your crypto-assets. Recognising the potential for significant losses is important, and You should only commit funds You can afford to lose. By engaging our Services and initiating Transactions in crypto-assets through us, You accept the possibility of losing more than their initial value.
Crypto-assets' value depends on the market’s willingness to trade and can become worthless, especially in illiquid markets. The inability to sell or convert assets due to market conditions can lead to losses.
The value of Your crypto-assets may be derived from the continued willingness of market participants to exchange crypto-assets for fiat money or other crypto-assets. If this willingness is disrupted for any reason, it could result in a permanent and total loss of value of crypto-asset.
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Legal and Regulatory Risk
Crypto-assets are not recognised as legal tender, lack government backing and their legal status varies country by country. Changes in laws and regulations may materially affect the value and liquidity of crypto-assets. This risk is unpredictable and may vary from market to market.
Additionally, under the applicable law and regulation, Itez may be required to suspend Your Account, affecting Transactions.
Consequently, You may face losses from value depreciation and the inability to sell or convert crypto-assets because of changes in regulatory controls.
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List of Supported Crypto-assets
It's important to clarify that the availability of any specific crypto-asset for trading on Itez doesn't imply an endorsement of its merits. Crypto-assets are generally considered high-risk assets, and it's crucial to conduct thorough due diligence before performing any operations with them. We strongly advise You to research the nature of any crypto-asset You intend to deal with, along with its associated risks, before making any decisions.
Itez does not guarantee a crypto-asset will deliver on any of its claims. Itez’s marketing materials that feature a symbol or logo for a particular crypto-asset may mean it is available to trade on Itez but it does not mean that we recommend this particular crypto-asset as a good investment. Additionally, we cannot guarantee that a particular crypto-asset will be available to trade on Itez at any time and that the list of available crypto-assets will not be changed over time.
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IT Risk
Understanding crypto-assets requires technical knowledge. For instance, it is crucial that Transactions are irreversible, and the loss of private keys can mean permanent access loss. Crypto-assets are also vulnerable to financial crimes and cyber-attacks. Losses from security breaches can be significant and often irrecoverable, making continuous practice of good digital and cyber hygiene crucially important. There are also various other technical and cyber security issues You should independently learn and consider when dealing with crypto assets.
Since crypto-assets and the Platform are heavily IT-involved products, they have risks related to hacks, bugs, malware and third-party malicious intent. While we make all efforts to protect its сustomers from these risks, there is always a chance of malfunction or IT risk happening. Hence, this may result in loss of crypto-assets or loss of access to the Platform.
While we do our best to provide a reliable and efficient service, we want You to be aware of these factors. Your understanding and cooperation are greatly appreciated as we continue to improve our Platform for Your benefit.
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External Interruptions and Modifications
The technology behind our Platform, including software and services, is provided by external third-party licensors. This means that we do not have direct control over every aspect of its functioning. We cannot guarantee that our Platform will always be available, timely, or free from errors. While we work hard to ensure its quality and accuracy, there may be instances where interruptions or issues occur.
The functionality, configuration, and content of our Platform may be subject to changes made by these third-party licensors. This could include adjustments to transaction parameters, protocols, or the availability of certain features.
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Third-Party Provider’ Risk
Such third parties as payment providers, custodians, banking partners and crypto service providers may be involved in the provision of our Services.
Please note that Itez may process Your Transactions through third-party services. It's crucial to understand that these transactions are not protected as traditional deposits. In the event of insolvency of any third-party processor, there is a risk of total or partial loss of Your Funds.
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Operational Risks
If You use Itez to make a transfer of crypto-assets to a wallet You control, but enter the crypto wallet address incorrectly or select the wrong asset (e.g., send bitcoin to an ether wallet address), You will be fully pable for the fact that these crypto-assets may be lost permanently.
Similarly, If You withdraw from Itez Funds to Your wallet, the safety and security of Your wallet’s seed phrase or private key is Your sole responsibility. If You lose it, Your assets may never be recoverable.
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Unauthorised agreements and Imposter scams
Please be aware of any services or transactions offered to You outside of the Platform, as they may not be authorised by Itez. It's important to note that only the directors of Itez have the authority to sign agreements on behalf of the company. Any agreements made with other staff members, agents, or third parties who are not authorised by the directors are legally invalid and not binding upon Itez. Therefore, You should contact us before proceeding with an agreement with any individuals offering any agreements or representations regarding the Platform, the Account, or the Services to verify their authorisation.
Imposter scams may involve criminals posing as Itez employees or representatives to offer fake services designed to steal Your money and crypto-assets. These scammers typically reach out to potential victims via unofficial email or social media accounts that may resemble official Itez accounts. We will never, under any circumstances, proactively contact customers via unofficial channels to offer any advice, entry into a free giveaway, or a “backdoor” to unlock Your Account.
If You have fallen victim to an Itez imposter scam, please report the incident immediately to the relevant local authorities and the Itez team.
