Disclaimer of Risks
Please read carefully!
Please consider the following risk factors (many of which are unique to and inherent in cryptographic tokens) before using any part of our Wallet/website/platform and purchasing and/or trading Black Mamba cryptographic tokens or any other cryptographic token that we (or any third-party service provider accessed through our platform) may offer from time to time (“tokens”).
If any of these risk factors materialize, the value of the tokens, as well as your ability to access and transfer the tokens, could be materially and adversely affected.
As a result, purchasing tokens exposes you to significant risks and potential financial losses.
Please keep in mind that this Risk Statement is not all-inclusive.
You should conduct additional research (and seek professional advice) to determine whether purchasing and/or trading tokens is appropriate for your specific financial situation and risk tolerance.
SUBJECT TO ANY OTHER PROVISION IN OUR EULA, WE SHALL NOT BE LIABLE FOR ANY LOSS INCURRED BY YOU AS A RESULT OF YOUR ACCESS TO OUR PLATFORM OR YOUR PURCHASE, TRANSFER, OR USE OF TOKENS.
TOKENS ARE HIGH-RISK ASSETS, AND YOU SHOULD NEVER PURCHASE TOKENS WITH FUNDS YOU CANNOT AFFORD TO LOSE.
1. VARIABILITY IN PRICE
Due to rapid shifts in offer and demand caused by events such as, but not limited to:
(a) good or bad publicity,
(b) changes in the financial technology industry,
(c) technological advancement,
(d) market trends,
(e) general economic and/or political conditions,
(f) degree of adoption,
(g) degree of institutional support,
(h) regulatory measures,
(i) degree of government support.
YOUR TOKENS MAY LOSE ALL VALUE AND BECOME WORTHLESS AS A RESULT OF PRICE VOLATILITY.
WE SHALL NOT BE LIABLE FOR ANY LOSS INCURRED BY YOU AS A RESULT OF THE TOKEN’S INHERENT PRICE VOLATILITY.
2. WALLETS IN CRYPTOGRAPHY
Tokens are kept in digital wallets (“Wallets”).
A private key (such as a passphrase) is usually required to access, control, and/or dispose of tokens stored in your Wallet.
If you lose access to the private key(s) associated with your Wallet, you may lose your ability to access and dispose of your tokens indefinitely.
You are solely responsible for putting all reasonable and appropriate safeguards in place to protect access to your private key(s) and Wallet!
WE DO NOT KEEP A COPY OF YOUR PRIVATE KEY(S).
WE WILL NOT BE LIABLE FOR ANY LOSS CAUSED BY YOUR INABILITY TO ACCESS YOUR WALLET AND/OR PRIVATE KEYS.
Tokens are stored on distributed ledgers (typically shared across user networks) that are governed, subject to, and distinguished by a set of rules known as protocols.
3.1 Protocol malfunction, breakdown, and/or abandonment
Any malfunction, breakdown, or abandonment of the protocols (and, where applicable, any consensus mechanism) on which the tokens are based could have a significant impact on the tokens’ price as well as your ability to dispose of the tokens (particularly where the protocol relies on substantial participation and wide networks to operate properly).
3.2 Mining assaults
Some protocols include consensus-based mechanisms for transfer validation (“Consensus Protocols”).
Consensus Protocols are thus vulnerable to attacks during the validation stage, when the token transaction is approved by the network.
This may affect the accuracy of protocol transactions and result in the misappropriation of your tokens (for example, through what is typically referred to as double spending attacks).
3.3 Hacking and security flaws
Tokens are vulnerable to expropriation and/or theft.
Bad actors (including hackers, groups, and organizations) may try to disrupt the protocols or tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, sybil attacks, smurfing, and spoofing.
Furthermore, because some protocols are based on open-source software, they are vulnerable to weaknesses being introduced (either intentionally or unintentionally) during the development stage.
Any such flaw could be exploited by bad actors to steal your tokens or otherwise disrupt the protocol’s functionality and your ability to dispose of your tokens.
WE HAVE NO CONTROL OVER THE PROTOCOLS. AS A RESULT, WE SHALL NOT BE LIABLE FOR ANY LOSS RESULTING FROM OR IN CONNECTION WITH THE PROTOCOLS.
4. LEGISLATION AND REGULATION
In many jurisdictions, the legal and/or regulatory framework surrounding tokens and distributed ledger technology is uncertain, unharmonised, and unsettled.
It is difficult to predict what frameworks will become applicable to tokens in the near future, as well as how the implementation of dedicated legal and/or regulatory frameworks will affect token prices.
A newly implemented legal and regulatory framework may interfere with or otherwise limit your ability to hold or dispose of your tokens, resulting in a financial loss on your part.
WE ARE NOT LIABLE FOR ANY LOSS YOU MAY INCUR AS A RESULT OF ANY NEWLY IMPLEMENTED LEGAL AND/OR REGULATORY FRAMEWORK.
Token taxation is complicated and fraught with uncertainty.
The uncertainty surrounding token taxation may expose you to unanticipated future tax consequences associated with purchasing, owning, selling, or otherwise using tokens.
To understand what tax obligations apply to you when purchasing, holding, transferring, and using tokens, you should seek tax advice.
Failure to comply with your tax obligations may result in significant fines and even jail time.
WE ARE NOT LIABLE FOR ANY LOSS OR OTHER FORM OF LIABILITY RESULTING FROM OR IN CONNECTION WITH YOUR FAILURE TO COMPLY WITH ANY TAX LIABILITY WHICH IS OR WILL BE APPLICABLE TO YOU.
6. UNFORESEEN RISKS
Aside from the risks discussed in this document, there are additional risks associated with the purchase, holding, trading, and use of tokens, some of which we cannot predict.
Such risks could manifest as unexpected variations or combinations of the risks discussed in this section.
THIS RISK STATEMENT IS NOT COMPLETE AND IS NOT INTENDED TO COVER ALL OF THE RISKS INVOLVED IN THE PURCHASE, HOLDING, TRADING, AND USE OF TOKENS.
WE SHALL NOT BE RESPONSIBLE OR LIABLE FOR ANY LOSS SUFFERED BY YOU AS A RESULT OF UNANTICIPATED RISKS, SUBJECT TO THE TERMS OF THE EULA.