Risk Disclosure
1. Risk Definition
1.1. The main risks associated with cryptocurrency trading are fraud, hacking, cyber attacks, and market volatility. Clients can lose their cryptocurrency funds if their exchange account is hacked or if they fall victim to a phishing attack by malicious individuals. The exchange can also lose funds if fraudsters gain access to its financial systems through phishing or hacking attacks.
1.2. In the case of market volatility risk, clients can lose their investments if the price of a cryptocurrency sharply drops. This can occur when the market experiences stressful or critical situations, such as the introduction of new regulations and laws regarding cryptocurrencies or news of hacking attacks.
1.3. tokenex.online exchange may face financial, legal, and reputational difficulties if the overall cryptocurrency market becomes less stable, leading to losses and additional expenses to maintain stability and security.
2. Security
2.1. Security principles used to protect clients and the company from potential threats inсlude authorization and authentication processes, cryptographic methods, protection against malware, timely software updates, as well as systematic improvement of security methods and principles.
3. Measures to Ensure the Security of the Exchange and Client Funds
3.1. Cybersecurity. tokenex.online exchange ensures the protection of its systems and data from cyber attacks by employing advanced technologies and methods to enhance security and minimize the risk of fraud.
3.2. Access Control. tokenex.online implements access control policies for its employees and partners to ensure the security and protection of its systems and data.
3.3. Transaction Monitoring. tokenex.online utilizes transaction monitoring systems to detect and promptly control any unusual or suspicious activity.
3.4. Customer Authentication and Identity Verification (KYC). tokenex.online employs multi-factor authentication to ensure the security of client accounts and applies modern AML & KYC methodologies to comply with requirements and international standards for data protection and security.
3.5. Regular Security systеm Audits. tokenex.online conducts regular audits of its security systems and protocols to ensure the timely provision of secure and uninterrupted services.
4. Regulatory Requirements
4.1. tokenex.online exchange takes regulatory requirements for cryptocurrency exchanges and associated risks seriously. It implements modern rules and tools for complying with KYC, AML & CFT policies, and successfully undergoes the necessary licensing processes to provide services in the cryptocurrency and related fields.
5. Risk Management
5.1. tokenex.online exchange employs various methods to manage risks, including regular risk analysis, identification of potential vulnerabilities, establishment of measures to minimize risks, and timely remediation. It also monitors operations, develops security procedures, and provides training to employees.
5.2. Risk Analysis. Conducting risk assessments, identifying potential threats and systеm vulnerabilities, evaluating the likelihood and consequences of various scenarios.
5.3. Operations Monitoring. tokenex.online exchange continuously monitors transactions and operations, analyzing them for any signs of illegal activity or fraud.
5.4. Development of Security Procedures and Employee Training. tokenex.online exchange focuses on enhancing the security of its protection systems and provides training to employees on handling confidential information, recognizing signs of fraud, and other skills required by qualified AML & CFT specialists to mitigate risks.
6. Crisis Management
6.1. Managing a crisis situation requires prompt and effective response to security threats in order to prevent financial losses.
6.2. Swift Response: In the event of a crisis situation, tokenex.online exchange has a clear action plan in place and immediately activates it upon detection of a potential threat.
6.3. systеm Regulation. In the case of unforeseen security breaches, hacking, or data leaks, any vulnerabilities in the security systеm are promptly addressed by technical specialists and regulated systems.
6.4. Collaboration with Law Enforcement Agencies. tokenex.online exchange always cooperates with law enforcement authorities to ensure compliance with security measures, investigate crisis situations, and identify fraudsters.
6.5. Collaboration with Other Services for Enhanced Security. tokenex.online exchange closely collaborates with advanced services and the industry as a whole, staying informed about the latest methods and systems for protection, information storage, and modern security practices.
7. Compliance Control
7.1. tokenex.online exchange regularly implements and conducts procedures and mechanisms to ensure compliance with rules, standards, legislative, and regulatory requirements. An experienced team of compliance specialists ensures the implementation of procedures necessary to maintain a professional level of compliance with all regulatory and international requirements, including KYC, AML & CFT.
