ICONX Terms and Conditions

The Risk Disclosure section illustrates the risks involved in the use of services provided by the ICONX and Seller Platform. These risks, and any other risks that may arise either now or in the future, could result in loss or jeopardy of a User’s assets and affect the ability to receive any benefits available.

Before beginning to use the Services, Users should ensure that they have read and understood (and must represent and warrant that they have read and understood) the following risk disclosures. Users must note that this is not an exhaustive list of all of the risks associated with products and services.

The effectiveness of a User’s promotional efforts hinges entirely on their engagement and decisions. It is essential to note that not all activities and referrals may yield benefits, and results can vary. The User acknowledges that all benefits and earnings on the ICONX Platform are not assured and are susceptible to change. And any gains from promotional activities rely on various factors, including performance, market conditions, and network dynamics, which may undergo fluctuations over time. We explicitly disclaim any warranties or guarantees, be they express or implied, concerning potential income or financial outcomes associated with platform usage.

Users may seek professional advice before making any decisions. It is imperative that a Users must also check regularly the latest terms and conditions applicable to the services, as they may change from time to time.

1. No Advice and No Reliance
   • ICONX does not advise on the merits of any product and service, mining and trading risks, or tax consequences, and ICONX does not provide any other financial, investment, taxation or legal advice in connection with the Services. To the extent that we or our representatives provide market commentary, or any other information, the act of doing so is incidental to a User’s relationship with us and such information should not be construed as investment or financial advice. Any decision by the User to use the Services is their own independent decision. The User must represent that they are not relying on any communication (written or oral) by us as investment advice or as a recommendation to use the Services. ICONX will not be liable for any loss suffered by a User or any third party.
   • Users accept the risk of using the platform service. In entering into any transaction on the Platform, the User represents that they have been, are, and will be solely responsible for making their own independent appraisal and investigations into the risks of such transaction.
     They also represent that they have sufficient knowledge, market sophistication, professional advice, and experience to make their own evaluation of the merits and risks of any transactions entered into on the Platform or any product and service offered by seller platform.
   • ICONX is not a broker, agent, or advisor and has no fiduciary relationship or obligation to any and all Users in connection with any services or other decisions or activities effected by a User who chooses to proceed with our Services.
2. Risks of Digital Asset Services
   • Digital assets are highly volatile and carry a high degree of risk, subject to rapid and unexpected price fluctuations. The price of digital assets may move up or down and may become valueless.
   • Digital assets are not legal tender. They may not be backed by physical assets and are not guaranteed by a government. They may not have intrinsic value.
   • Transactions involving digital assets are irrevocable. Lost or stolen digital assets may be irretrievable. Once a transaction has been verified and recorded on a blockchain, loss or stolen digital assets generally will not be reversible.
   • Digital asset services including but not limited to mining and trading may incur losses rather than profit. Digital assets, being a high-risk asset class invites utmost caution while dealing or trading with them.
3. Digital Assets: Liquidity, Volatility & Transfers
   • Digital asset services can be extremely risky and volatile. They may have unique features that make them more or less likely to fluctuate in value.
   • Factors beyond ICONX’s or Seller Platform’s control, such as regulatory activity or unexplainable price volatility, may affect market liquidity for a particular digital asset. Blockchain networks may go offline as a result of bugs, forks or other unforeseeable reasons. Any digital asset may decrease in value or lose all of its value due to various factors including discovery of wrongful conduct, market manipulation, change to the nature or properties of the digital asset, governmental or regulatory activity, legislative changes, suspension or cessation of support for a digital asset or other platforms or service providers, public opinion, or other factors outside of our control. Technical advancements, as well as broader economic and political factors, may cause the value of any digital asset to change significantly over a short period of time.
   • Understanding digital assets requires advanced technical knowledge. Digital assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer code to appreciate the inherent risks. We provide no warranty as to the suitability of digital assets for any products and services under these Terms and assume no fiduciary duty to any and all Users in connection with such use of the services.
   • Users accept all consequences of sending digital assets to an address off-the-platform. Digital asset transactions may not be reversible, which means that any accidental or fraudulent transactions in respect of digital assets may not be recoverable. Once a User sends any digital assets to an address, they accept the risk that theymay lose access to them indefinitely. For example, the network of the receiving wallet may be chosen incorrectly, or an address may have been entered incorrectly and the true owner of the address may never be discovered, or an address may belong to a person that will not return the digital assets.
4. Complex Products
   • Digital assets may be complex products by virtue that the terms, features and/or risk are not readily understood due to the complex structure, novelty and reliance on technological features.
   • Digital assets wallets, including those of ICONX and a Seller Platform, have certain limitations and restrictions in terms of the digital assets that they can support. Users will be informed of such limitations and under no circumstance should a User attempt to store digital assets in their wallet that it does not support. Doing so may result in irrevocable loss of the unsupported digital asset. When a User creates a wallet, the wallet software generates a cryptographic private and public key pair that they may use to send and receive any supported digital assets via the relevant network.
     Users are advised to store, outside of the products, a backup of all wallet credentials, including their passphrases, identifiers, backup phrases, private keys, and network addresses. If a User does not maintain a backup of their wallet data outside of the Products, they will not be able to access digital assets previously accessed using their wallet in the event that we discontinue or no longer offer some or all of the products. We do not have access to such data and are therefore NOT responsible for maintaining it on a User’s behalf. We do not receive or store any wallet passwords, keys, or network addresses, and hence cannot assist any User with the password retrieval for their wallet.
     
     ICONX and the Seller Platform have no control over any digital asset network and therefore cannot and do not ensure that any transaction details that a User submits using our products will be confirmed on the relevant digital asset network. The transaction details that a User submits using our products may not be completed or may be substantially delayed by the digital asset network used to process the transaction. We do not guarantee that the wallet can transfer the title or rights in any digital asset or make any warranties whatsoever with regard to the title. We shall not be responsible for any harm occurring as a result of the inability to reverse a transaction, and any losses in connection therewith due to erroneous or fraudulent actions.
     
     Since blockchain transactions are immutable, once transaction details have been submitted to a digital asset network, we cannot assist Users in cancelling or otherwise modifying their transaction or transaction details. We have no control over any digital asset network and do not have the ability to facilitate any cancellation or modification requests.
5. Blacklisted Addresses and Forfeited Assets
   ICONX and any of the affiliated Seller Platforms reserve the right to ‘blacklist’ certain addresses and freeze associated assets (temporarily or permanently) that they determine, in its sole discretion, are associated with illegal activity or activity that otherwise violates the Terms (“Blacklisted Addresses”). If a User sends assets to a blacklisted address or receive assets from one, ICONX may freeze such assets and take steps to terminate their account.
6. Reliance on Distributed Ledger Technology
   • Digital assets rely on various types of distributed ledger technology. Some of this technology is open-source software that is built upon experimental technology, namely blockchain. Risks arising from this reliance include the existence of technical flaws in the technology, targeting by malicious persons, majority-mining, consensus-based or other mining attacks, changes in the consensus protocol or algorithms, decreased community or miner support, rapid fluctuations in value of relevant digital assets, the existence or development of competing networks, platforms and assets, flaws in the scripting language, disputes between developers, miners and/or users and regulatory action.
   • The software protocols that underlie digital assets are typically open-source projects or are otherwise operated by third parties, which means that:
     • (i) The operations, functionalities, development and control of such digital assets and their underlying networks are outside of ICONX’s control; AND
     • (ii) Such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given digital asset.

7. Technology Challenges
   • Users must be aware and acknowledge that only they are responsible for securing their private key with respect to any address in their control. Lost or compromised control of their private key will permanently and irreversibly deny them access to their Digital Assets.
   • Users must understand that the platform’s reliance on internet and technology, exposes them to an increased risk of fraud or cyber-attack which includes, but not limited to:
     • (i) Distributed denial of service;
     • (ii) Phishing;
     • (iii) Social engineering;
     • (iv) Hacking;
     • (v) Smurfing;
     • (vi) Malware;
     • (vii) Majority-mining & other mining attacks:
     • (viii) Forks; AND
     • (ix)
   • Users must acknowledge that interruption, delay, corruption or loss of data, the loss of confidentiality in the transmission of data, or the transmission of malware may occur when transmitting data via the internet and/or other technologies which may result in delayed or non-execution of their instructions.
   • The above events may affect the features, functions, operation, use, access or other properties of the digital assets, their account, their wallet, or an agreed communication method. The User alone is responsible for protecting themself against such actions.
8. Digital Asset Creation and Distribution Risks
   Risks also arise from the different ways in which digital assets are issued and distributed. There are several ways to create and issue digital assets. The use of proof-of-work mining requires significant energy and runs counter to the global aim of transitioning to a low-carbon economy. The environmental impact of mining carries both ethical and reputational risks.
9. Operational Challenges
   • Users must be aware of and accept the risk of operational challenges that may impact the services. ICONX and/or a Seller Platform may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the services. Users must understand that the services may experience operational issues that lead to delays.
   • Users must also agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. They must agree not to hold ICONX nor the Seller Platform liable for any related losses.
   • Users should acknowledge that the technology underlying digital assets is subject to change at any time, and such changes may affect their digital assets stored on the platform. The User is fully responsible for monitoring such technological changes and understanding their consequences with respect to their digital assets.
   • Users acknowledge that they use the services on their own account and ICONX does not take any responsibility for any loss or damage incurred as a result of such a use or a failure to understand the risks associated with the use of digital assets or our Services.
   • Digital assets depend on the availability and reliability of power, connectivity, and hardware. Interruption or failure of any of these things may disrupt the networks on which the digital assets rely and may affect a User’s ability to access or transact in digital assets.
10. Compliance with Jurisdictional Laws
    • Users are responsible for complying with all applicable laws where they reside or where they access the services from. They agree that ICONX is not responsible for determining whether or which laws and regulations may apply to their transactions, including but not limited to tax laws and regulations. The User is solely responsible for reporting and paying any taxes arising from their use of the Services.
    • Residents, tax residents or persons having a relevant connection with jurisdictions other than permitted jurisdictions are prohibited from using the ICONX platform and any of its services. Changes in a User’s place of domicile or applicable law may result in such a User violating any legal or regulatory requirements of their applicable jurisdiction. It is the duty of a User to ensure that their usage of Services is, and remains lawful despite changes to applicable law, their residence and circumstances.
    • Dealing in digital assets may be subject to the tax laws and regulations in a permitted jurisdiction. The tax treatment and accounting of digital assets (and any ancillary benefits) may vary amongst jurisdictions. If a User is unsure about the tax implications of their use of the services, they should seek independent professional advice.
11. Reliance on Third parties & Country Risks

The use of any services and the value of certain Digital Assets may rely on the acts of third parties or the fulfilment of related obligations by third parties. ICONX is not responsible for the acts or omissions of such third parties.