Terms & Condition

These Quantum Terms of Use is entered into between you (hereinafter referred to as “you” or “your”) and Quantum operators (as defined below). By accessing, downloading, using, or clicking on “I agree” to accept any Quantum Services (as defined below) provided by Quantum (as defined below), you agree that you have read, understood, and accepted all of the terms and conditions stipulated in these Terms of Use (hereinafter referred to as “these Terms”) as well as our Privacy Policy at www.quantum.com/en/privacy-policy. In addition, when using some features of the Services, you may be subject to specific additional terms and conditions applicable to those features.

Please read the terms carefully as they govern your use of Quantum Services. THESE TERMS CONTAIN IMPORTANT PROVISIONS INCLUDING AN ARBITRATION PROVISION THAT REQUIRES ALL CLAIMS TO BE RESOLVED BY WAY OF LEGALLY BINDING ARBITRATION. The terms of the arbitration provision are set forth in Article 10, “Resolving Disputes: Forum, Arbitration, Class Action Waiver”, hereunder. As with any asset, the values of Digital Currencies (as defined below) may fluctuate significantly, and there is a substantial risk of economic losses when purchasing, selling, holding, or investing in Digital Currencies and their derivatives.

By making use of Quantum services, you acknowledge and agree that:

(1) you are aware of the risks associated with transactions of digital currencies and their derivatives;

(2) you shall assume all risks related to the use of Quantum services and transactions of digital currencies and their derivatives;

(3) Quantum shall not be liable for any such risks or adverse outcomes.

By accessing, using, or attempting to use Quantum Services in any capacity, you acknowledge that you accept and agree to be bound by these Terms. If you do not agree, do not access Quantum or utilize Quantum services. For more information about the risks associated with trading or investing in Digital Assets, you may access our General Risk Disclosure at www.quantum.com/en/risk-disclosure.

I. Definitions

1. Quantum refers to an ecosystem comprising Quantum websites , mobile applications, clients, applets, and other applications that are developed to offer Quantum Services, and includes independently operated platforms, websites, and clients within the ecosystem (e.g., qtNFT, Quantum Ticket, Quantum Pay, Quantumchain, Quantumverse, and fiat gateways). In case of any inconsistency between the relevant terms of use of the above platforms and the contents of these Terms, the respective applicable terms of such platforms shall prevail.
2. Quantum Operators refer to all parties that run Quantum, including but not limited to legal persons (including Quantum Europe UAB), unincorporated organizations, and teams that provide Quantum Services and are responsible for such services. For convenience, unless otherwise stated, references to “Quantum” and “we” in these Terms specifically mean Quantum Operators. Under these terms, Quantum Operators may change as Quantum’s business adjusts, in which case, the changed operators shall perform their obligations under these terms with you and provide services to you, and such change does not affect your rights and interests under these terms. Additionally, the scope of Quantum Operators may be expanded due to the provision of new Quantum services, in which case, if you continue to use Quantum services, it is deemed that you have agreed to jointly execute these terms with the newly added Quantum Operators. In case of a dispute, you shall determine the entities by which these terms are performed with you and the counterparties of the dispute, depending on the specific services you use and the particular actions that affect your rights or interests.
3. Quantum Services refer to various services provided to you by Quantum that are based on Internet and/or blockchain technologies and offered via Quantum websites, mobile applications, clients, and other forms (including new ones enabled by future technological development). Quantum Services include but are not limited to such Quantum ecosystem components as Digital Asset Trading Platforms and novel services to be provided by Quantum.
4. Quantum Platform Rules refer to all rules, interpretations, announcements, statements, letters of consent, and other contents that have been and will be subsequently released by Quantum, as well as all regulations, implementation rules, product process descriptions, and announcements published in the Help Center or within products or service processes.
5. Users refer to all individuals, institutions, or organizations that access, download, or use Quantum or Quantum Services and who meet the criteria and conditions stipulated by Quantum. If there exist other agreements for such entities as developers, distributors, market makers, and Digital Currencies exchanges, such agreements shall be followed.
6. Digital Currencies refer to encrypted or digital tokens or cryptocurrencies with a certain value that are based on blockchain and cryptography technologies and are issued and managed in a decentralized form.
7. Digital Assets refer to Digital Currencies, their derivatives, or other types of digitalized assets with a certain value.
8. Quantum Accounts refer to the foundational virtual accounts, including main accounts and subaccounts, which are opened by Quantum for Users to record on Quantum their usage of Quantum Services, transactions, asset changes, and basic information. Quantum Accounts serve as the basis for Users to enjoy and exercise their rights on Quantum.
9. Crypto-to-crypto Trading refers to spot transactions in which one digital currency is exchanged for another digital currency.
10. Fiat Trading refers to spot transactions in which Digital Currencies are exchanged for fiat currencies or vice versa.
11. KYC refers to the “know-your-customer” process that Quantum has put in place before entering into a business relationship or conducting transactions with its Users. As part of this process, Quantum may do anything that it deems necessary to identify Users, verify their identity, scrutinize and investigate User transactions, or comply with any applicable law or regulation, including demanding additional documents and/or information during the KYC.

2. About Quantum

As an important part of the Quantum Ecosystem, Quantum mainly serves as a global online platform for Digital Assets trading and provides Users with a trading platform, financing services, technical services, and other Digital Assets-related services. As further detailed in Article 3 below, Users must register and open an account with Quantum and deposit Digital Assets into their account prior to trading. Users may, subject to the restrictions set forth in these Terms, apply for the withdrawal of Digital Assets.

Although Quantum has been committed to maintaining the accuracy of the information provided through Quantum Services, Quantum cannot and does not guarantee its accuracy, applicability, reliability, integrity, performance, or appropriateness, nor shall Quantum be liable for any loss or damage that may be caused directly or indirectly by your use of these contents. The information about Quantum Services may change without notice, and the main purpose of providing such information is to help Users make independent decisions. Quantum does not provide investment or consulting advice of any kind and is not responsible for the use or interpretation of information on Quantum or any other communication medium. All Users of Quantum Services must understand the risks involved in Digital Assets trading and are recommended to exercise prudence and trade responsibly within their own capabilities.

3. Quantum Account Registration and Requirements

a. Registration

All Users must apply for a Quantum Account at (https://exchange.quantum.com/registration) before using Quantum Services. When you register a Quantum Account, you must provide the information identified in this paragraph 3 or otherwise as requested by Quantum and accept these Terms, the Privacy Policy, and other Quantum Platform Rules. Quantum may refuse, at its discretion, to open a Quantum Account for you. You agree to provide complete and accurate information when opening a Quantum Account and agree to timely update any information you provide to Quantum 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. However, Users can open one or more subaccounts under the main account with the consent of Quantum. For certain Quantum Services, you may be required to set up a specific account independent of your Quantum Account, based on the provisions of these Terms or the Supplementary Terms. The registration, use, protection, and management of such trading accounts are equally governed by the provisions of this Section and Section VI, unless otherwise stated in these Terms or the Supplementary Terms.

b. Eligibility

By registering to use a Quantum Account, you represent and warrant that:

(i) as an individual, you are at least 18 or 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;

(iii) you have not been previously suspended or removed from using Quantum Services;

(iv) you do not currently have a Quantum Account;

(v) you are neither a resident nor a national of a High-Risk Country as defined by these Terms as detailed in Article “d. Prohibition of Use”;

(vi) If you act as an employee or agent of a legal entity, and enter into these Terms on their behalf, you represent and warrant that you have all the necessary rights and authorizations to bind such legal entity;

(vii) your use of Quantum Services will not violate any and all laws and regulations applicable to you, including but not limited to regulations on anti-money laundering, anti-corruption, and counter-terrorist financing.

Please note that some products and services may not be available in certain jurisdictions or regions or to certain users. Quantum reserves the right to change, modify or impose additional restrictions at its discretion at any time.

c. User Identity Verification

Your registration of an account with Quantum will be deemed your agreement to provide required personal information for identity verification. Such information will be used to verify Users’ identity, identify traces of money laundering, terrorist financing, fraud, and other financial crimes through Quantum, or for other lawful purposes stated by Quantum. We will collect, use, and share such information in accordance with our Privacy Policy. In addition to providing such information, you agree to allow us to keep a record of that information during the period for which your account is active and within five (5) years after your account is closed, in compliance with global industry standards on data storage. You also authorize us to conduct necessary investigations directly or through a third party to verify your identity or protect you and/or us from financial crimes, such as fraud. The information we require to verify your identity may include but is not limited to your name, email address, contact information, phone number, username, government-issued ID, date of birth, and other information collected during account registration. When providing the required information, you confirm it is true and accurate. After registration, you must ensure that the information is true, complete, and timely updated when changed. If there are any grounds for believing that any of the information you provided is incorrect, false, outdated, or incomplete, Quantum reserves the right to send you a notice to demand correction, directly delete the relevant information, and, as the case may be, terminate all or part of Quantum services we provide for you. If we are unable to reach you with the contact information you provided, you shall be fully liable for any loss or expense caused to Quantum during your use of Quantum services. You hereby acknowledge and agree that you have the obligation to update all the information if there is any change. By registering an account, you hereby authorize Quantum to conduct investigations that Quantum considers necessary, either directly or through a third party, to verify your identity or protect you, other users, and/or Quantum from fraud or other financial crimes, and to take necessary actions based on the results of such investigations. You also acknowledge and agree that your personal information may be disclosed to credit bureaus and agencies for fraud prevention or financial crime prevention, which may respond to our investigations in full.

d. Account Usage Requirements

The Quantum Account can only be used by the account registrant. Quantum reserves the right to suspend, freeze, or cancel the use of Quantum Accounts by persons other than the account registrant. If you suspect or become aware of any unauthorized use of your username and password, you should notify Quantum immediately. Quantum assumes no liability for any loss or damage arising from the use of the Quantum Account by you or any third party with or without your authorization.

e. Account Security

Quantum has been committed to maintaining the security of User entrusted funds and has implemented industry-standard protection for Quantum Services. However, the actions of individual Users may pose risks. You shall agree to treat your access credentials (such as username and password) as confidential information and not disclose such information to any third party. You also agree to be solely responsible for taking the necessary security measures to protect your Quantum Account and personal information.

You should be solely responsible for keeping safe your Quantum Account and password and be responsible for all the transactions under your Quantum Account. Quantum assumes no liability for any loss or consequences caused by authorized or unauthorized use of your account credentials, including but not limited to information disclosure, information release, consent, or submission of various rules and agreements by clicking on the website, online agreement renewal, etc.

By creating a Quantum Account, you hereby agree that:

i. you will notify Quantum immediately if you are aware of any unauthorized use of your Quantum Account and password or any other violation of security rules;

ii. you will strictly abide by all mechanisms or procedures of Quantum regarding security, authentication, trading, charging, and withdrawal; and

iii. you will take appropriate steps to log out from Quantum at the end of each visit.

III. Quantum Services

Upon completion of the registration and identity verification for your Quantum Account, you may use various Quantum Services, including but not limited to, Hot Wallet, Pro Platform, Core Platform etc., in accordance with the provisions of these Terms (including Quantum Platform Rules and other individual agreements). Quantum has the right to:

Provide, modify or terminate, in its discretion, any Quantum Services based on its development plan; and

Allow or prohibit some Users’ use of any Quantum Services in accordance with relevant Quantum Platform Rules.

1. Service Usage Guidelines

a. License

Provided that you constantly comply with the express terms and conditions stated in these Terms, Quantum grants you a revocable, limited, royalty-free, non-exclusive, non-transferable, and non-sublicensable license to access and use Quantum Services through your computer or Internet compatible devices for your personal/internal purposes. You are prohibited from using Quantum Services for resale or commercial purposes, including transactions on behalf of other persons or entities. All the above actions are expressly prohibited and constitute a material violation of these Terms. The content layout, format, function, and access rights regarding Quantum Services should be stipulated in the discretion of Quantum. Quantum reserves all rights not expressly granted in these Terms. Therefore, you are hereby prohibited from using Quantum Services in any way not expressly authorized by these Terms.

These Terms only grant a limited license to access and use Quantum Services. Therefore, you hereby agree that when you use Quantum Services, Quantum does not transfer Quantum Services or the ownership or intellectual property rights of any Quantum intellectual property to you or anyone else. All the text, graphics, user interfaces, visual interface, photos, sounds, process flow diagrams, computer code (including html code), programs, software, products, information, and documents, as well as the design, structure, selection, coordination, expression, look and feel, and layout of any content included in the services or provided through Quantum Services, are exclusively owned, controlled and/or licensed by Quantum Operators or its members, parent companies, licensors or affiliates.

Quantum owns any feedback, suggestions, ideas, or other information or materials (hereinafter collectively referred to as “Feedback”) about Quantum or Quantum Services that you provide through email, Quantum Services, or other ways. You hereby transfer all rights, ownership and interests of the Feedback and all related intellectual property rights to Quantum. You have no right and hereby waive any request for acknowledgment or compensation based on any Feedback, or any modifications based on any Feedback.

b. Restriction

When you use Quantum Services, you agree and undertake to comply with the following provisions: i. During the use of Quantum Services, all activities you carry out should comply with the requirements of applicable laws and regulations, these Terms, and various guidelines of Quantum;

ii. Your use of Quantum 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 Quantum Services;

iii. 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);

iv. Without written consent from Quantum, the following commercial uses of Quantum data are prohibited:

Trading services that make use of Quantum quotes or market bulletin board information.

Data feeding or streaming services that make use of any market data of Quantum.

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

v. Without prior written consent from Quantum, 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.

vi. 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 Quantum Services in any way, in order to obtain or attempt to obtain any materials, documents or information in any manner not purposely provided through Quantum Services;

(ii) attempt to access any part or function of the properties without authorization, or connect to Quantum Services or any Quantum servers or any other systems or networks of any Quantum Services provided through the services by hacking, password mining or any other unlawful or prohibited means; (iii) probe, scan or test the vulnerabilities of Quantum Services or any network connected to the properties, or violate any security or authentication measures on Quantum Services or any network connected to Quantum Services;

(iv) reverse look-up, track or seek to track any information of any other Users or visitors of Quantum Services;

(v) take any actions that imposes an unreasonable or disproportionately large load on the infrastructure of systems or networks of Quantum Services or Quantum, or the infrastructure of any systems or networks connected to Quantum services;

(vi) use any devices, software or routine programs to interfere with the normal operation of Quantum Services or any transactions on Quantum Services, or any other person’s use of Quantum Services;

(vii) forge headers, impersonate, or otherwise manipulate identification, to disguise your identity or the origin of any messages or transmissions you send to Quantum, or

(viii) use Quantum Services in an illegal way.

By accessing Quantum Services, you agree that Quantum has the right to investigate any violation of these Terms, unilaterally determine whether you have violated these Terms, 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.

2. Quantum Services

The following services (the “Quantum Services”) are provided to you by Quantum Europe UAB, Lithuania incorporated limited liability company with company number 306161650 and whose registered office is Mėsinių g.5, Vilnius, Lithuania:

• An intuitive interface with real-time order books, charting tools, trade history, and a simple order process (the “Pro Platform”);

• A product that, in addition to the Hot Wallet, allows you to buy and sell digital assets (the “Core Platform”);

• A product enabling you to transfer digital assets into and digital assets out of your Hot Wallet (the “Hot Wallet”);

c. Cancellation

For Orders initiated through Quantum Services, you may only cancel them before they have been matched with other Users’ Orders. Once your Order has been matched with another user’s Order, you may not change, revoke or cancel Quantum’s authorization to complete the Order. For any partially matched Order, you may cancel the unmatched part of the Order unless such portion has been matched. Quantum reserves the right to reject any cancellation request related to the Order you have submitted. If your account does not have sufficient amount of Digital Currencies to execute an Order, Quantum may cancel the entire Order, or execute part of the Order with the amount of Digital Currencies you have in your account (in each case, any Transaction related fees payable to Quantum are deducted as stated in paragraph (c) below).

Cancellation and Refunds

I. For Orders initiated through Quantum Services, you may only cancel them before they have been matched with other Users’ Orders. Once your Order has been matched with another user’s Order, you may not change, revoke or cancel Quantum’s authorization to complete the Order. For any partially matched Order, you may cancel the unmatched part of the Order unless such portion has been matched. Quantum reserves the right to reject any cancellation request related to the Order you have submitted. If your account does not have sufficient amount of Digital Currencies to execute an Order, Quantum may cancel the entire Order, or execute part of the Order with the amount of Digital Currencies you have in your account (in each case, any Transaction related fees payable to Quantum are deducted as stated in paragraph (c) below).

II. Your account will be credited or debited when you deposit, withdraw, or swap Digital Assets on our platform. There are no refunds or cancellations of Digital Asset exchange orders after they have been fulfilled. In the event of a platform technical error, the Company may, however, cancel an order. All purchases are final, and no refunds will be issued under any circumstances, including but not limited to: dissatisfaction with the product or service, change of mind, technical difficulties or compatibility issues, errors in the product description or pricing.

Please note that we do not provide refunds for any of our products or services.

c. Account deletion/deactivation

You may request the deletion/deactivation of your account at any time. The system and/or our team members will audit your request as well as the total amount of assets in your account. We reserve the right to ask you to submit some documents, the examination of which will determine the time allocated for the review of your request.

BE AWARE: The deletion of your account is irreversible. You will not be able to undo this after the request is confirmed and the account is deleted. Please, also note that:

You will not be able to log in into your account,

All your transaction history will not be migrated to any other account,

All of your open orders will be terminated and will not be visible in any other account,

Your security items and verified ID information will be automatically removed.

Please, DO NOT deposit any amounts into the deleted account as you may lose the newly deposited assets and it would not be possible to have it retrieved.

d. Fees

You agree to pay Quantum the fees specified in https://www.quantum.com/fees. Quantum may, in its discretion, update the fees at any time. Any updated fees will apply to any sales or other Transactions that occur following the effective date of the updated fees. You authorize Quantum to deduct from your account any applicable fees that you owe under these Terms.

Quantum reserves the right to impose additional fees in connection with the provision of its Services or under specific circumstances, including but not limited to:

Fees incurred in response to regulatory or judicial inquiries, investigations, or directives;

Fees associated with ensuring compliance with applicable legal or regulatory obligations;

Administrative fees related to the management of dormant accounts or extraordinary processing requests;

Additional fees arising from the use of third-party services, etc.

You acknowledge and agree that Quantum may deduct such fees directly from your Quantum Account.

1. Payment Service Providers.

We may, at our discretion, use a third-party payment services provider to process deposit and withdrawal requests in fiat currencies. Upon making a deposit or withdrawal request for fiat currency, you may be directed away from Quantum or Quantum Services to a third-party website. In such case, you are solely responsible for any actions taken on such website and we shall not be liable for any loss resulting in whole or in part from such website or provider.

e. Prohibition of duplicate and linked accounts

Duplication of Accounts: Each user may only create and hold one (1) account with Quantum. The creation of multiple accounts by a single user is strictly prohibited and constitutes a violation of these Terms of Use. This restriction is to ensure fairness and transparency in our platform operations and prevent exploitation of our system's features.

Linked Accounts: Users are also prohibited from creating "linked" accounts, wherein they control multiple accounts either directly or indirectly. A user is considered to be controlling an account indirectly if they have the ability to influence the actions or decisions of another account holder, whether this influence is exerted through financial, personal, or any other means.

Account Verification: Quantum reserves the right to request additional information from users at any time to confirm their identity, compliance with this policy, and any other aspect of these Terms of Use. This may include, but is not limited to, photo identification, proof of residence, and proof of financial status.

Actions in Case of Violation: If Quantum, in its sole discretion, determines that a user has created multiple or linked accounts, Quantum may take one or more of the following actions: i. Immediate suspension or termination of the user's accounts without notice;

ii. Reporting the user to relevant authorities, as deemed appropriate by Quantum; and

iii. Any other action deemed appropriate by Quantum in its sole discretion, including but not limited to legal action.

IV. Liabilities

Disclaimer of Warranties

To the maximum extent permitted under applicable law, Quantum services, Quantum materials, and any product, service, or other item provided by or on behalf of Quantum are offered on an “as is” and “as available” basis, and Quantum 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, Quantum does not represent or warrant that the site, Quantum services, or Quantum materials are accurate, complete, reliable, current, error-free, or free of viruses or other harmful components. Quantum 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, 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 Quantum services. Without limiting the foregoing, you hereby understand and agree that Quantum 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 Quantum and service interruption and change resulting from such maintenance,

(e) any damages incurred by other users’ actions, omissions or violation of these terms,

(f) any damage caused by illegal actions of other third parties or actions without authorization by Quantum; and

(g) other exemptions mentioned in disclaimers and platform rules issued by Quantum.

The disclaimer of implied warranties contained herein may not apply if and to the extent it is prohibited by applicable law of the jurisdiction in which you reside.

Disclaimer of Damages and Limitation of Liability

To the maximum extent permitted by applicable law, in no event will Quantum, its affiliates 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 Quantum services, any performance or non-performance of Quantum services, or any other product, service or other item provided by or on behalf of Quantum and its affiliates, whether under contract, statute, strict liability or other theory even if Quantum 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 Quantum’s gross negligence, fraud, willful misconduct or intentional violation of law. Some jurisdictions do not allow the exclusion or limitation of incidental or consequential damages, so the above limitation may not apply to you.

Notwithstanding the foregoing, in no event will the liability of Quantum, 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 Quantum and its affiliates, any performance or non-performance of Quantum services, or any other product, service or other item, whether under contract, statute, strict liability or other theory, exceed the amount of the fees paid by you to Quantum under these terms in the twelve-month period immediately preceding the event giving rise to the claim for liability.

Indemnification

You agree to indemnify and hold harmless Quantum Operators, 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, Quantum Services, (ii) your breach or our enforcement of these Terms, or (iii) your violation of any applicable law, regulation, or rights of any third party during your use of Quantum Services. If you are obligated to indemnify Quantum Operators, their affiliates, contractors, licensors, and their respective directors, officers, employees or agents pursuant to these Terms, Quantum will have the right, in its sole discretion, to control any action or proceeding and to determine whether Quantum wishes to settle, and if so, on what terms.

V. Announcements

Please be aware that all official announcements, news, promotions, competitions, and airdrops will be listed on www.quantum.com/en/support/announcement. USERS UNDERTAKE TO REFER TO THESE MATERIALS REGULARLY AND PROMPTLY. QUANTUM WILL NOT BE HELD LIABLE OR RESPONSIBLE IN ANY MANNER OF COMPENSATION SHOULD USERS INCUR PERSONAL LOSSES ARISING FROM IGNORANCE OR NEGLIGENCE OF THE ANNOUNCEMENTS.

VI. Termination of Agreement

Suspension of Quantum Accounts

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

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

We detect unusual activities in the Quantum Account;

We detect unauthorized access to the Quantum Account;

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

Cancellation of Quantum Accounts

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

after Quantum terminates services to you;

you allegedly register or register in any other person’s name as a Quantum User again, directly or indirectly;

the information that you have provided is untruthful, inaccurate, outdated or incomplete;

when these Terms are amended, you state your unwillingness to accept the amended Terms by applying for cancellation of your Quantum Account or by other means;

you request that Quantum Services be terminated; and

any other circumstances where Quantum deems it should terminate Quantum Services.

Should your Quantum Account be terminated, the account and transactional information that meet data retention standards will be securely stored for 5 years. In addition, if a transaction is unfinished during the account termination process, Quantum shall have the right to notify your counterparty of the situation at that time. You acknowledge that a user-initiated account exit (right to erasure under GDPR or other equivalent regulations) will also be subjected to the termination protocol stated above.

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

Remaining Funds After Quantum Account Termination

Except as set forth in paragraph 4 below, once a Quantum Account is closed/withdrawn, all remaining account balance (which includes charges and liabilities owed to Quantum) will be payable immediately to Quantum. Upon payment of all outstanding charges to Quantum (if any), Users will have 5 business days to withdraw all Digital Assets or funds from the account.

Remaining Funds After Quantum Account Termination Due to Fraud, Violation of Law, or Violation of These Terms

Quantum maintains full custody of the Digital Assets, funds, and User data/information which may be turned over to governmental authorities in the event of Quantum Accounts’ suspension/closure arising from fraud investigations, investigations of violation of law or violation of these Terms.

Dormant Accounts

Notwithstanding any provision of this Section VI, Quantum may provide a written notice requiring you to close all of your open positions and withdraw all of your Digital Assets from your Quantum Account within 30 days of the notice. In the event that you fail to do so, Quantum may in its absolute discretion and without prior notice to you:

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

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

(c) convert the Digital Assets to a different type of Digital Asset (e.g., from BTC to BUSD). For the avoidance of doubt, none of the Quantum Operators shall be liable for any loss of profit, tax obligations or any other loss, damage or expense incurred by you resulting from such conversion;

(d) transfer such dormant account (including any Digital Assets contained therein) to an affiliate of the Quantum Operators, any third-party custodian or an isolated wallet where it is deemed reasonably necessary by Quantum to do so. In the event that such transfer has taken place, you have the right to retrieve your digital assets from subject to satisfying Quantum’s verification requirements, including completing KYC;

(e) charge a dormant account fee to cover the cost of maintaining the assets by the Quantum Operators, its affiliates or any third-party and such fee shall be withdrawn directly from the dormant account on a monthly basis; and

(f) close a dormant account at any time, and Quantum 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 Quantum. Any assets in these dormant accounts will be transferred in accordance to paragraph 5(d) above. After a dormant account is closed, it cannot be reactivated by you (i.e. you will need to register a new Quantum account if you wish to continue to use Quantum Services).

VII. No Financial Advice

Quantum 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 Quantum Services. No communication or information provided to you by Quantum is intended as, or shall be considered or construed as, investment advice, financial advice, trading advice, or any other sort of advice. Unless otherwise specified in these Terms, 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. You should consult legal or tax professionals regarding your specific situation. Quantum does not recommend that any Digital Asset should be bought, earned, sold, or held by you. 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. Quantum will not be held responsible for the decisions you make to buy, sell, or hold Digital Asset based on the information provided by Quantum.

VIII. Compliance with Local Laws

It is Users’ responsibility to abide by local laws in relation to the legal usage of Quantum Services in their local jurisdiction as well as other laws and regulations applicable to Users. Users must also factor, to the extent of their local laws all aspects of taxation, the withholding, collection, reporting and remittance to their appropriate tax authorities. All users of Quantum services acknowledge and declare that their funds come from legitimate sources and do not originate from illegal activities; users agree that Quantum will require them to provide or otherwise collect the necessary information and materials as per relevant laws or government orders to verify the legality of the sources and use of their funds. 

IX. Privacy Policy

Access to Quantum Services will require the submission of certain personally identifiable information. Please review Quantum’s Privacy Policy at https://www.quantum.com/privacy-policy for a summary of Quantum’s guidelines regarding the collection and use of personally identifiable information.

X. Resolving Disputes: Forum, Arbitration, Class Action Waiver

PLEASE READ THIS SECTION CAREFULLY, AS IT INVOLVES A WAIVER OF CERTAIN RIGHTS TO BRING LEGAL PROCEEDINGS, INCLUDING AS A CLASS ACTION.

Notice of Claim and Dispute Resolution Period. Please contact Quantum first! Quantum wants to address your concerns without resorting to formal legal proceedings, if possible. If you have a dispute with Quantum, then you should contact Quantum and a ticket number will be assigned. Quantum will attempt to resolve your dispute internally as soon as possible. The parties agree to negotiate in good faith to resolve the dispute (which discussions shall remain confidential and be subject to applicable rules protecting settlement discussions from use as evidence in any legal proceeding).

In the event the dispute cannot be resolved satisfactorily, and you wish to assert a legal claim against Quantum, then you agree to set forth the basis of such claim in writing in a “Notice of Claim,” as a form of prior notice to Quantum. The Notice of Claim must (1) describe the nature and basis of the claim or dispute, (2) set forth the specific relief sought, (3) provide the original ticket number, and (4) include your Quantum account email. The Notice of Claim should be submitted to an email address or hyperlink provided in your correspondence with Quantum. After you have provided the Notice of Claim to Quantum, the dispute referenced in the Notice of Claim may be submitted by either Quantum or you to arbitration in accordance with paragraph 2 of this Section, below. For the avoidance of doubt, the submission of a dispute to Quantum for resolution internally and the delivery of a Notice of Claim to Quantum are prerequisites to commencement of an arbitration proceeding (or any other legal proceeding). During the arbitration, the amount of any settlement offer made by you or Quantum shall not be disclosed to the arbitrator.

Agreement to Arbitrate and Governing Law. You and Quantum agree that, subject to paragraph 1 above, any dispute, claim, or controversy between you and Quantum (and/or Quantum Operators) arising in connection with or relating in any way to these Terms or to your relationship with Quantum (and/or Quantum Operators) as a user of Quantum Services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) will be determined by mandatory final and binding individual (not class) arbitration, except as set forth below under Exceptions to Agreement to Arbitrate. You and Quantum further agree that the arbitrator shall have the exclusive power to rule on his or her own jurisdiction, including without limitation any objections with respect to the existence, scope or validity of the Agreement to Arbitrate, or to the arbitrability of any claim or counterclaim. Arbitration is more informal than a lawsuit in court. THERE IS NO JUDGE OR JURY IN ARBITRATION, AND COURT REVIEW OF AN ARBITRATION AWARD IS LIMITED. There may be more limited discovery than in court. The arbitrator must follow this agreement and can award the same damages and relief as a court (including, if applicable, attorney fees), except that the arbitrator may not award declaratory or injunctive relief in favour of anyone but the parties to the arbitration. The arbitration provisions set forth in this Section will survive termination of these Terms.

Arbitration Rules. The arbitration shall be subject to the HKIAC Administered Arbitration Rules (HKIAC Rules) in force when the Notice of Arbitration is submitted, as modified by this Section X. The arbitration will be administered by the Hong Kong International Arbitration Centre (HKIAC). Unless the parties agree otherwise, there shall be only one arbitrator appointed in accordance with the HKIAC Rules. Any arbitration will be conducted in the English language. Regardless of the manner in which the arbitration is conducted, the arbitrator shall issue a reasoned written decision sufficient to explain the essential findings and conclusions on which the decision and award, if any, are based. Judgment on any arbitral award may be given in any court having jurisdiction over the party (or over the assets of the party) against whom such an award is rendered. Time for filing: any arbitration against Quantum operators must be commenced by filing a request for arbitration within one (1) year, after the date the party asserting the claim first knows or reasonably should know of the act, omission or default giving rise to the claim; and there shall be no right to any remedy for any claim not asserted within that time period. This one year limitation period is inclusive of the internal dispute resolution procedure set forth in paragraph 1 of this section, above. There shall be no right to any remedy for any claim not asserted within that time period. If applicable law prohibits a one-year limitation period for asserting claims, any claim must be asserted within the shortest time period permitted by applicable law.

Process; Notice: The party who intends to seek arbitration after the expiration of the Dispute Resolution Period set forth in paragraph 1, above, must submit a request to the HKIAC in accordance with the HKIAC Rules. If we request arbitration against you, we will give you notice at the email address or mailing address you have provided. You agree that any notice sent to this email or mailing address shall be deemed effective for all purposes, including without limitation to determinations of adequacy of service. It is your obligation to ensure that the email address and/or mailing address on file with Quantum is up-to-date and accurate.

Seat of Arbitration: The seat of the arbitration shall be Hong Kong.

Place of Hearing: The location of any in-person arbitration hearing shall be Hong Kong, unless otherwise agreed to by the parties.

Governing Law: These Terms (including this arbitration agreement) shall be governed by, and construed in accordance with, the laws of Hong Kong.

Confidentiality: The parties agree that the arbitration shall be kept confidential. The existence of the arbitration, any nonpublic information provided in the arbitration, and any submissions, orders or awards made in the arbitration (together, the “Confidential Information”) shall not be disclosed to any non-party except the tribunal, the HKIAC, the parties, their counsel, experts, witnesses, accountants and auditors, insurers and reinsurers, and any other person necessary to the conduct of the arbitration. Notwithstanding the foregoing, a party may disclose Confidential Information to the extent that disclosure may be required to fulfill a legal duty, protect or pursue a legal right, or enforce or challenge an award in bona fide legal proceedings. This confidentiality provision shall survive termination of these Terms and of any arbitration brought pursuant to these Terms.

Class Action Waiver. You and Quantum agree that any claims relating to these Terms or to your relationship with Quantum as a user of Quantum Services (whether based in contract, tort, statute, fraud, misrepresentation, or any other legal theory, and whether the claims arise during or after the termination of these Terms) shall be brought against the other party in an arbitration on an individual basis only and not as a plaintiff or class member in a purported class or representative action. You and Quantum further agree to waive any right for such claims to be brought, heard, or arbitrated as a class, collective, representative, or private attorney general action, to the extent permissible by applicable law. Combining or consolidating individual arbitrations into a single arbitration is not permitted without the consent of all parties, including Quantum.

Modifications. Quantum reserves the right to update, modify, revise, suspend, or make any future changes to Section X regarding the parties’ Agreement to Arbitrate, subject to applicable law. You hereby consent and agree that it is your responsibility to ensure that your understanding of this Section is up to date. Subject to the applicable law, your continued use of your Quantum account shall be deemed to be your acceptance of any modifications to Section X regarding the parties’ Agreement to Arbitrate. You agree that if you object to the modifications to Section X, Quantum may block access to your account pending closure of your account. In such circumstances, the Terms of Use prior to modification shall remain in full force and effect pending closure of your account.

Severability. If any portion of these Terms is adjudged to be invalid or unenforceable for any reason or to any extent, the remainder of these Terms will remain valid and enforceable and the invalid or unenforceable portion will be given effect to the greatest extent permitted by law, pending closure of your account.

XI. Miscellaneous

Independent Parties. Quantum is an independent contractor but not an agent of you in the performance of these Terms. These Terms shall not be interpreted as facts or evidence of an association, joint venture, partnership, or franchise between the parties.

Entire Agreement. These Terms constitute the entire agreement between the parties regarding use of Quantum 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.

Interpretation and Revision. Quantum reserves the right to alter, revise, modify, and/or change these Terms at any time. All changes will take effect immediately upon being published on Quantum websites. It is your responsibility to regularly check relevant pages on our websites/applications to confirm the latest version of these Terms. If you do not agree to any such modifications, your only remedy is to terminate your usage of Quantum Services and cancel your account. You agree that, unless otherwise expressly provided in these Terms, Quantum will not be responsible for any modification or termination of Quantum Services by you or any third party, or suspension or termination of your access to Quantum Services.

Force Majeure. Quantum will not be liable for any delay or failure to perform as required by these Terms because of any cause or condition beyond Quantum’s reasonable control.

Severability. If any portion of these Terms is held invalid or unenforceable, such invalidity or enforceability will not affect the other provisions of these Terms, which will remain in full force and effect, and the invalid or unenforceable portion will be given effect to the greatest extent possible.

Assignment. You may not assign or transfer any right to use Quantum Services or any of your rights or obligations under these Terms without prior written consent from Quantum, including any right or obligation related to the enforcement of laws or the change of control. Quantum may assign or transfer any or all of its rights or obligations under these Terms, in whole or in part, without notice or obtaining your consent or approval.

Waiver. The failure of one party to require the performance of any provision will not affect that party’s right to require performance at any time thereafter. At the same time, the waiver of one party to seek recovery for the other party’s violation of these Terms or any provision of applicable terms shall not constitute a waiver by that party of any subsequent breach or violation by the other party or of the provision itself.

Third-Party Website Disclaimer. Any links to third-party websites from Quantum Services does not imply endorsement by Quantum of any product, service, information or disclaimer presented therein, nor does Quantum guarantee the accuracy of the information contained on them. If you suffer loss from using such third-party product and service, Quantum will not be liable for such loss. In addition, since Quantum has no control over the terms of use or privacy policies of third-party websites, you should read and understand those policies carefully.

Contact Information. For more information on Quantum, you may refer to the company and license information found on Quantum websites. If you have questions regarding these Terms, please feel free to contact Quantum for clarification via our Customer Support team at www.quantum.com/contact-us.