This Risk Disclosure (the "Disclosure") informs the user of the risks associated with the use of the BitMoment platform (the "Platform", the "Service", "BitMoment"), cryptocurrency operations and P2P interaction.
The Disclosure forms an integral part of the User Agreement. By using the Service, you confirm that you have read this Disclosure, agree to it and undertake to comply with it. See also: User Agreement, AML/KYC Policy, Platform Rules, Fraud Warning.
1. General Provisions
1.1. Cryptocurrency operations involve a high level of risk. The user makes the decision to use the Service independently, knowingly and at the user's own risk. This Disclosure is not exhaustive and does not replace an independent assessment of risks.
1.2. The Platform provides a technical capability for P2P interaction and an escrow service, is not a party to transactions between users, does not provide investment or financial advice and does not induce the performance of any transactions.
1.3. The Platform does not guarantee profitability, the preservation of asset value or the achievement by the user of any results.
2. Market Risk
2.1. The value of cryptocurrencies is subject to significant and unpredictable fluctuations and may significantly or fully depreciate within a short period. Past performance is not a guarantee of future results. The user may suffer a partial or total loss of asset value.
3. Technological and Network Risks
3.1. Blockchain networks may be subject to failures, congestion, forks, reorganisations, attacks (including a "51%" attack), and changes in commissions and confirmation times. Blockchain transactions are irreversible.
3.2. A user error (an incorrect address, an incorrect network, loss of access to authentication data, loss of 2FA) may lead to the irrevocable loss of funds. The Platform does not control and cannot reverse such transactions.
3.3. The Service is provided "as is" and "as available"; failures, unavailability and the suspension of individual functions and withdrawal/deposit networks are possible.
4. Counterparty and P2P Risk
4.1. In P2P trades, settlements in fiat funds are performed by users directly. A counterparty may turn out to be in bad faith, insolvent, present forged payment confirmations or commit other breaches.
4.2. Escrow holds the cryptoasset of the advertisement creator but does not guarantee performance of fiat obligations by the counterparty and does not protect against all types of bad-faith conduct. The decision on a dispute is taken by the moderator at the moderator's discretion and is final (see the Platform Rules).
4.3. The Platform is not liable for the acts or omissions of counterparties and third parties, to the maximum extent permitted by applicable law.
5. Fraud and Social-Engineering Risks
5.1. Fraud schemes exist: moving communication and payment outside the Platform, pressure to release a cryptoasset before payment, forged receipts, phishing, substitution of requisites. Details are provided in the Fraud Warning and the materials of the "Security" section.
5.2. The user is responsible for the user's own prudence. The Platform does not compensate for losses incurred as a result of the user's actions circumventing security recommendations, to the maximum extent permitted by applicable law.
6. AML and Regulatory Risks
6.1. Transactions are subject to AML control. Where risk factors are identified, the Platform is entitled to request information, restrict functionality, freeze funds, refuse a transaction or withdrawal (see the AML/KYC Policy).
6.2. Freezing ≠ confiscation. The freezing or restriction of operations with funds is not aimed at depriving the user of the right of ownership. Return is possible after the grounds have been eliminated and the lawfulness of the origin of funds confirmed, unless otherwise follows from the instructions of competent authorities or from applicable law. The Platform does not declare any right to the irrevocable seizure of funds.
6.3. The legal status of cryptocurrencies and their taxation differ across jurisdictions and may change. The user independently assesses the law applicable to the user and independently fulfils tax obligations. The Platform is not the user's tax agent.
7. Acceptance of Risks
7.1. By using the Service, the user confirms that the user has read this Disclosure, understands and accepts all the risks listed and other associated risks in full, acting independently and at the user's own risk.
7.2. The user waives in advance any claims against the Platform connected with the materialisation of the risks set out in this Disclosure and with the discretionary powers lawfully exercised by the Platform, to the maximum extent permitted by applicable law. This clause does not affect the right to the return of funds in accordance with clause 6.2.
8. Limitation of Liability and Indemnification
8.1. To the maximum extent permitted by applicable law, the Platform is not liable for losses, lost profit and other consequences caused by the materialisation of market, technological, network, counterparty, fraud, AML and regulatory risks, the unavailability of the Service or user errors.
8.2. The user shall indemnify the Platform for documented losses and costs, and shall satisfy third-party claims, arising from the user's breach of the terms of use of the Service.
8.3. The provisions of this section are not intended to exclude liability to the extent that this is not expressly permitted by applicable law; to that extent, they apply to the maximum permissible degree.
9. Severability and Governing Law
9.1. The recognition of any provision of this Disclosure as invalid or unenforceable does not entail the invalidity of the remaining provisions. An invalid provision is applied and construed to the maximum extent permitted by applicable law so as to achieve its original purpose; in all other respects the Disclosure remains in force. All provisions apply "to the maximum extent permitted by applicable law".
9.2. The applicable law and the procedure for resolving disputes are determined by the User Agreement.
10. Amendments to the Disclosure
10.1. BitMoment is entitled, at its discretion, to amend this Disclosure in connection with changes to the Service, changes in applicable law or on other grounds.
10.2. The current version of the Disclosure is published at /support/docs/risks. The version history is available at /support/docs/risks/history.
10.3. The procedure for accepting this document and the legal consequences of its amendment are determined by the User Agreement, of which this document forms an integral part. Consent is expressed in the manner established by the User Agreement and does not require separate confirmation for each version.
11. Contacts
For matters relating to this Disclosure and official requests, please contact:
- Email (AML/KYC, official requests): legal@bitmoment.pro
- Email (general support): support@bitmoment.pro
- Telegram support: @BitMomentSupportBot
The procedure for handling requests from competent authorities is set out in the document "Procedure for Law-Enforcement Requests".
Operator: BitMoment.