Terms of Service - Hong Kong

Data di pubblicazione: 22 apr 2024

Last Updated: April 25, 2024

These Terms constitute the agreement and understanding regarding the use of any or all of the Services, and any manner of accessing them, between you and OKX Hong Kong FinTech Company Limited (“OKX HK”, “we,” “us” or “our”) a Hong Kong registered company whose business address is at 6/F, Sino Plaza, Gloucester Road, Causeway Bay, Hong Kong and which has submitted its licensing application to the SFC to (a) engage in Type 1 (dealing in securities) and Type 7 (providing automated trading services) regulated activities under the SFO and (b) provide Virtual Asset Service under the AMLO.

By accessing or using the services provided by OKX HK ("Services"), whether through visiting or accessing www.okx.com, associated application program interface or mobile applications (collectively, the “OKX HK Platform”), you (“User”, “user”, “You” or “you”) consent to these Terms of Service, as may be amended from time to time (these “Terms”), so please read them carefully including the Risk Statements set out in the Appendix to these Terms.

1 PREAMBLE

1.1 By clicking on the “Create Account” button or by visiting the OKX HK Platform, we may provide you with access and utility through our trading platform via software, API (application program interface), technologies, products and/or functionalities. A description of the Services provided by us is contained in Clause 4 of these Terms. A list of defined terms and their meaning is contained in Clause 24 of these Terms.

1.2 As described in these Terms, you agree to be legally bound by these Terms and all terms incorporated by reference. If you do not agree to be bound by these Terms, do not access or use the Services.

1.3 To the fullest extent permissible pursuant to Applicable Laws and Regulations and in accordance with Clause 18, we reserve the right to change or modify these Terms, and any policy or guideline of the OKX HK Platform, at any time and at our sole discretion.

1.4 To the fullest extent permissible pursuant to Applicable Laws and Regulations, you agree to the Terms in effect when you access or use the Services and/or the OKX HK Platform, or you must stop using our Services. We encourage you to frequently review these Terms to ensure that you understand the terms and conditions that apply to your access to, and use of, the Services. If you have any questions regarding the use of the OKX HK Platform, please go to Support Center.

1.5 These Terms and any terms expressly incorporated herein apply to your access to, and use of, any Services provided by us. These Terms take precedence over and do not alter in any way the terms or conditions of any other agreement you may have with us for products, services or otherwise. If you are using the Services on behalf of a legal entity, you represent and warrant that (a) such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization and (b) you are authorized to accept the Terms on such entity’s behalf and that such entity agrees to be responsible to us if you violate the Terms.

1.6 You should read these Terms, and any document referred to in them very carefully. If there is anything that you do not understand in these Terms and any document referred to herein, you should discuss this matter with us and seek the necessary clarification.

1.7 Any formal communication with you will be undertaken through electronic mail unless otherwise instructed. Documents will be sent to you by electronic mail and you should seek to send any documents to us by the same means. Please visit Support Center for assistance.

1.8 Any formal communication with you will, unless otherwise agreed, be made in the English language. In the event of any discrepancy between the English language version of these Terms or any such communications and any translation of these Terms or such communications (as applicable) in a foreign language, the respective English version shall prevail.

2 ELIGIBILITY AND PROHIBITION OF USING OUR SERVICES &BUSINESS

2.1 The Services are intended solely for Users who are Natural Persons aged 18 or older. If you are a Natural Person, by accessing or using our Services, you represent and warrant that you are at least 18 years old. If you are registering to use the Service(s) on behalf of a legal entity (e.g. corporate or institutional customers), you represent and warrant that such legal entity is duly organized and validly existing under the applicable laws of the jurisdiction of its organization; you are duly authorized by such legal entity to act on its behalf, such legal entity agrees to be responsible to us if you violate these Terms, and you have not previously been suspended or removed from the OKX HK Platform or Services. You also represent and warrant that you are not on and that you will not transact with anyone on any trade or economic sanctions lists of any Competent Authority, which includes without limitation: Terrorism and terrorist financing - Islamic State in Iraq and the Levant (Da’esh), Al-Qaida, the Taliban, and associated individuals, groups, undertakings, and entities, any individual or entity designated by the United Arab Emirates ("Local Terrorism List"); and the financing of proliferation of weapons of mass destruction (WMDs) - Democratic People’s Republic of Korea: nuclear-related, other weapons of mass destruction-related, and ballistic missile-related programs; Islamic Republic of Iran: nuclear program; and other sanction lists that may be promulgated by a Competent Authority, including but not limited to the United Nations Security Council, European Union, the Monetary Authority of Singapore, Hong Kong Monetary Authority, the SFC, Hong Kong Customs and Excise Department, or Office of Foreign Asset Control. You agree to provide written certification of your compliance of this Clause 2.1 as soon as reasonably practicable when requested by us.

2.2 Note that we may not make all of the Services available in all markets and jurisdictions, and may restrict or prohibit use of all or a portion of the Services from Restricted Locations, which at this time include Belgium, Cuba, France and its overseas territories including Guadeloupe, French Guiana, Martinique, Mayotte, La Réunion, Saint Barthélemy, Saint-Martin, Saint-Pierre-et-Miquelon, French Southern and Antarctic Lands, French Polynesia, Wallis and Futuna, and New Caledonia, Iran, India, Japan, North Korea, Malaysia, Singapore (specifically regarding our Margin and derivatives related Services), Syria, the People's Republic of China, the United States of America including all U.S.A. territories like Puerto Rico, American Samoa, Guam, Northern Mariana Island, and the US Virgin Islands (St. Croix, St. John and St. Thomas), the Bahamas, Canada, the Netherlands, the United Kingdom (specifically regarding our derivatives-related Services for retail users), Ireland, Bangladesh, Bolivia, Crimea, Donetsk and Luhansk of Ukraine, Uzbekistan and Malta. As a result, if you do not meet these eligibility requirements, do not use our Services.

3 PROHIBITED BUSINESSES

3.1 Any use of our Services in connection with any of the following categories of activities or businesses is prohibited (“Prohibited Businesses”), and we reserve the right at all times to monitor your transactions or Accounts that are related to any of the following Prohibited Businesses:

(a) unlicensed money service businesses, including but not limited to payment services providers, the sale of money orders or cashier’s checks or any money transmitter activities;

(b) prohibiting any business relationships with banks or financial institutions that do not maintain a physical presence in any country (i.e., a prohibited “Shell Bank'') or that have financial activities or services that do not comply with, or would cause OKX HK to not be in compliance with any laws, regulations, or other legal authority applicable to us or applicable to the regulated financial services or activities in question.

(c) adult content and services, including but not limited to any types of pornography and other obscene materials (including literature, imagery and other media), sites offering any sexually-related services such as prostitution, escorts, pay-per view, and adult live chat features;

(d) deceptive marketing and false advertising services;

(e) religious and/or spiritual organizations;

(f) unlicensed sale of weapons of any kind, including but not limited to firearms, ammunition, knives, explosives, or related accessories;

(g) certain regulated products and services, including but not limited to marijuana dispensaries and related businesses; sale of tobacco, e-cigarettes, and e-liquid; online prescription or pharmaceutical services; age restricted goods or services; and toxic, flammable, and radioactive materials;

(h) pseudo-pharmaceuticals - companies manufacturing and or selling untested or unapproved pharmaceuticals;

(i) drugs and drug paraphernalia, including but not limited to, sale of narcotics, controlled substances, and any equipment designed for making or using drugs, such as bongs, vaporizers and hookahs

(j) gambling activities, including but not limited to sports betting, casino games, horse racing, dog racing, lotteries, games of chance, sweepstakes, games of skill that may be classified as gambling (i.e. poker), or other activities that facilitate any of the foregoing;

(k) money-laundering, fraud, terrorist financing, or any other type of financial crimes;

any sort of Ponzi scheme, pyramid scheme, or multi-level marketing program;

(l) goods or services that infringe or violate any copyright, trademark, or proprietary rights under the laws of any jurisdiction;

(m) layaway systems, or annuities;

(n) counterfeit or unauthorized goods, including but not limited to the sale or resale of fake or “novelty” IDs and the sale of goods or services that are illegally imported or exported or which are stolen;

(o) wash trading, front-running, insider trading, market manipulation or other forms of market-based fraud or deceit;

(p) purchasing goods of any type from hidden service markets or “Darknet” markets, or any other service or website that acts as a marketplace for illegal goods (even though such marketplace might also sell legal goods);

(q) any other matters, goods, or services that from time to time we deem to be unacceptable or of high risk, and which, for example, may be restricted by our and your bank or payment partners;

(r) any other unlawful activities which would, in our sole discretion, violate, or assist in violation of, any law, statute, ordinance, or regulation, sanctions programs administered in the countries where we conduct business, or which would involve proceeds of any unlawful activities;

(s) Shell Banks or financial institutions that have customers that are Shell Banks;

(t) entities with bearer share ownership;

(u) defense industry, firearms & munitions manufacturers;

(v) nuclear energy;

(w) restricted financial services, including but not limited to credit repair, debt settlement, refinance, bail bonds, collections agencies; or

(x) transactions or business involving ivory and protected species.

3.2 In the event that we learn or reasonably suspect, in our sole discretion, that your Account is or may be associated with any of the Prohibited Businesses as set forth above, we will consider it to be a violation of these Terms and may suspend or terminate your Account, and/or block transactions or freeze your Fiat Currency or Virtual Assets immediately without notice, and we reserve the right to report any such suspected or actual Prohibited Businesses to the law enforcement authorities.

4 DESCRIPTION OF OUR SERVICESAND OUR RELATIONSHIP WITH YOU

4.1 We provide Services to Users in relation to Virtual Assets (“Virtual Assets” as defined below, and also known as virtual financial assets, cryptographic tokens, digital tokens and/or cryptographic currency).

4.2 We provide the User with any or all of the following Services:

(a) trading services to acquire or dispose of Virtual Assets:

(i) through the OKX HK Platform which is an order matching platform that automatically, and according to pre-established criteria, matches Users’ Orders with open Orders from other Users in respect of Virtual Assets. OKX HK acts as an agent when providing trading services through the OKX HK Platform unless otherwise indicated and in circumstances permitted under Applicable Laws and Regulations. Please refer to Clause 7A of these Terms for further details;

(ii) through an off-platform arrangement such as via an over-the-counter ("OTC") trading desk. OKX HK acts in a principal capacity when providing trading services to you through the off-platform arrangement unless otherwise indicated and in circumstances permitted under Applicable Laws and Regulations. Please refer to Clause 7B of these Terms for further details; and

(b) custody services of your Virtual Assets through the Associated Entity. Please refer to Clause 7C of these Terms for further details.

4.3 OKX HK has the right to specify, restrict or vary from time to time the scope of its Services available under these Terms. The Services mentioned in these Terms may be subject to additional terms set out on the OKX HK Platform.

4.4 You acknowledge and agree that:

(a) only Eligible Virtual Assets are permitted by OKX HK to be used in connection with the Services;

(b) OKX HK has sole and absolute discretion in determining whether a Virtual Asset is an Eligible Virtual Asset; and

4.5 You acknowledge and agree that if we receive Virtual Assets which are determined not to be Eligible Virtual Assets, you shall take all such actions (including giving us the relevant instructions) to transfer away such Virtual Assets. Where you provide us with an external address which is capable of receiving and holding such Virtual Assets, it is your sole responsibility and obligation to ensure that you provide a correct external address for such purpose. Where you provide an incorrect external address or an external address which is incapable of receiving and/or holding such Virtual Assets, you acknowledge and agree that such Virtual Assets may be lost and to the fullest extent permissible pursuant to Applicable Laws and Regulations, we shall not be held liable or accountable to you or any other parties for any loss or damage incurred.

4.6 In certain limited circumstances and where permitted by Applicable Laws and Regulations, OKX HK's Related Parties may trade on the OKX HK Platform or use other Services on a proprietary basis, as principal, or on behalf of others. Such trading activity may include, but is not limited to, buying or selling Virtual Assets, placing Orders to buy or sell Virtual Assets, acting as a market maker for certain Virtual Assets, and trading as a principal in Virtual Asset transactions. Orders submitted and trades executed by OKX HK's Related Parties are not distinguished from other trades on the OKX HK Platform. OKX HK's Related Parties thus may act as a counterparty to any trade executed by you or other Users. The trading activity of OKX HK's Related Parties, as described herein, may include OKX HK's Related Parties engaging in transactions with multiple counterparties, including other Users, where interests may differ. OKX HK and its Related Parties have no duty to act solely on your behalf and undertakes no responsibility to do so. You agree and understand that OKX HK's Related Parties may use the OKX HK Platform and other Services. You agree not to object to or otherwise bring a claim against OKX HK and its Related Parties related to any transaction conducted by OKX HK and its Related Parties.

4.7 OKX HK provides an execution-only service and does not advise on the merits of any particular Virtual Asset transaction, trading risk or associated tax consequences, and OKX HK does not provide any other financial, investment or legal advice in connection with the Services. To the fullest extent permissible pursuant to Applicable Laws and Regulations, OKX HK does not warrant the accuracy, completeness or usefulness of such information and such information should not be considered as an offer to buy or sell a Virtual Asset. To the fullest extent permissible pursuant to Applicable Laws and Regulations, a User is solely responsible for determining whether any Virtual Asset transaction is appropriate.

4.8 All investment decisions shall be made by the User and OKX HK does not and is not granted the authority to make investment decisions for and on behalf of the User.

4.9 The User acknowledges and agrees that OKX HK may provide information and documents for general circulation to the Users from time to time and such information and documents are not meant to and are not intended to target the User specifically. Unless otherwise specifically indicated by OKX HK, the preparation and distribution of such information and documents have not taken into consideration the individual personal circumstances of the User, and should not be relied upon as such. The User fully understands and agrees that unless otherwise specifically indicated by OKX HK and to the fullest extent permissible pursuant to Applicable Laws and Regulations, all information and documents which are prepared or issued by third parties including any prospectuses, explanatory memoranda, financial reports and accounts, and statistical information are for reference only and shall not of themselves be regarded as personalised investment advice or recommendation of OKX HK.

4.10 By accepting these Terms, you expressly agree to the pooling of your Virtual Assets or Fiat Currency with the Virtual Assets or Fiat Currency of other Users, subject to Applicable Laws and Regulations. Virtual Assets or Fiat Currency of Users are not protected by deposit protection or deposit insurance scheme. In the case of an irreconcilable shortfall, you may not receive some or any of your deposited Virtual Assets or Fiat Currency.

4.11 You represent and warrant that:

(a) you are the ultimate and effective legal and beneficial owner of any Virtual Assets transferred to your Account or wallet on the OKX HK Platform, that you shall not act as nominee or trustee for any other person and that you shall not transfer, assign, pledge, charge or otherwise create any security interest or encumbrance whatsoever over such Virtual Assets.;

(b) you are: (i) the person or entity (legal or otherwise) ultimately responsible for originating the instruction in relation to a Trade and (ii) the person or entity (legal or otherwise) that stands to gain the commercial or economic benefit of the transaction, bear its commercial or economic risk or both gain the benefit and bear its risks. Where you are not a person referred to in (a) and/or (b) above, you agree and consent to immediately provide the identity, address and contact details of such person to us.

4.12 By opening an Account and using the Services, a User accepts the risk of trading in Virtual Assets. Before entering into any Trade, a User is solely responsible for considering its own circumstances (including its investment objectives, level of experience and risk tolerance) and seek professional advice, if necessary.

4.13 We shall not be obliged to accept Orders unless sufficient Virtual Assets or Fiat Currency are available in the Account for (a) the settlement of the relevant order, and (b) the payment of any related charges and expenses as applicable., except in certain circumstances prescribed by us and permitted under Applicable Laws and Regulations.

4.14 While we have made every effort to ensure the accuracy of the information on our OKX HK Platform or OKX HK Website, the information and content on the OKX HK Platform or OKX HK Website is subject to change without notice and is provided for the sole purpose of assisting users to make independent decisions. We have taken reasonable measures to ensure the accuracy of the information on the OKX HK Platform or OKX HK Website; however, to the fullest extent permissible pursuant to Applicable Laws and Regulations, we do not guarantee the accuracy, suitability, reliability, completeness, performance and/or fitness for purpose of the content of any Services or products available through the OKX HK Platform or OKX HK Website, and will not accept liability for any loss or damage that may arise directly or indirectly from the content or your inability to access the OKX HK Platform or OKX HK Website, for any delay in or failure of the transmission or the receipt of any instruction or notifications sent through our platform. We will not have any liability for the use or interpretation of such information.

4.15 Users shall prepare devices and bear costs as follows: 1) internet-connected device, including but not limited to computer or other internet-connected terminals; and 2) internet-accessing costs, including but not limited to internet fees, rental charges for internet-connected equipment, cellular data fees, etc.

4.16 You hereby authorize us to send you communications relating to your Account via email, SMS, mobile notification, or mailing address. You may also opt-out of certain communications by changing relevant settings on the OKX HK Platform or OKX HK Website.

4.17 You acknowledge and consent that the Services are provided by us according to our current technological capacity and other conditions. While we have made every effort to ensure continuity and security of the Services, we are unable to completely foresee and hedge legal, technological and other risks including but not limited to force majeure, virus, hacker attack, system instability, flaws in third-party services, acts of government, or government agency etc. that may result in service interruption, data loss and other losses and risks.

4.18 To the fullest extent permissible pursuant to Applicable Laws and Regulations, when the User is unable to access the Services (including where the OKX HK Platform is unable to operate properly for whatever reasons), or place or cancel an order, we assume no liability for damages. These circumstances include, but are not limited to:

(a) system downtime during maintenance as announced by the OKX HK Platform;

(b) telecom or networking equipment issues;

(d) any other issues, including hacker attacks, computer virus intrusion or attack, website or backend maintenance and upgrade, banking related issues, government regulation or mandates, freezing order imposed by any Competent Authority and any other third party issues; and

(e) damages to users or other third parties caused by third parties.

4.18 In relation to the Services provided by OKX HK:

(a) we reserve the right to process, cancel, correct, clawback, and/or reverse, any Virtual Asset transaction or transfers or cancel abnormal transaction results in our sole discretion, even after Fiat Currency or Virtual Assets may have been debited from your Account(s) upon the occurrence of abnormal transactions, market interruption and other abnormal conditions caused by , arising from, or related to system failure, platform system bug(s), network failure, distributed denial of service attacks (Ddos) and other hacker attacks and other unexpected factors; or in response to a subpoena, court order, or other government order; or if we suspect the transaction may: involve money laundering, terrorist financing, fraud, or any other type of financial crime; be erroneous; or relate to a prohibited use in accordance with these Terms. In such instances, OKX HK will reverse the transaction and debit the corresponding Virtual Assets from your Account(s) to recover the Losses arising from such transaction, and we are under no obligation to reinstate any purchase or sale order at the same price or on the same terms as the canceled transaction; and/or

(b) we strictly prohibit unfair trading behaviors. OKX HK reserves the right to enact, under its sole discretion, and take control over your Account, if you: (i) are involved in price manipulation, insider dealing, market manipulation, market distortion or any other malicious wrongdoings to the market; (ii) might be harming other Users or OKX HK by exploiting the Service’s vulnerabilities or by other unreasonable means; (iii) are involved in any other activities that OKX HK deems harmful to the overall well-being of the market.

We also reserve the right to take actions, including but not limited to, close your Accounts, limit trading, halt trading, cancel transactions, rollback transactions and return the relevant Virtual Assets to any complainant so as to eliminate any adverse effects to the overall well-being of the market. In no event, to the fullest extent permissible pursuant to Applicable Laws and Regulations, shall we be liable to you for any loss incurred when such action against you happens.

4.19 We shall not ask for any password or private keys from our Users, nor shall we ask Users to transmit any Fiat Currency or Virtual Assets, as applicable. Accordingly, we shall not be responsible for any losses caused by your transmittal of Fiat Currency or Virtual Assets, as applicable.

4.20 Users acknowledge that we may delist any Virtual Asset from the OKX HK Platform or discontinue to provide off-platform trading services in relation to any Virtual Asset at our sole discretion, subject to Applicable Laws and Regulations and any token admission and delisting policies and procedures as may be uploaded to the OKX HK Website from time to time.

4.21 With regard to abnormal transaction handling, while using the Services, you agree to and acknowledge the possibility of discontinuity and disruption of the Services due to connectivity problems of the Virtual Asset networks or other force majeure. Users shall make sure to provide only correct information. We do not assume any responsibility for any losses caused by the aforementioned situations due to you providing incorrect information that results in our inability to reach out and to explain to you the handling procedures.

4.22 We have the right to know the purpose and background of the Users who use our products or Services. Users should provide comprehensive and accurate information as required. If we have reasonable grounds to suspect that the User has provided false information, we are entitled to restrict the User from the use of some or all of Services temporarily or permanently.

4.23 OKX HK adopts a pre-funded trading model, meaning no orders from a User will be accepted, unless there are sufficient Fiat Assets or Virtual Assets available in your Account. To the fullest extent permissible pursuant to Applicable Laws and Regulations and where debit or credit card is accepted by OKX HK, any Virtual Asset you successfully purchase using a debit or credit card will be credited to your Account and our obligation in this regard will be deemed complete when the Virtual Asset purchased by you is reflected in your Account. We are not responsible for any losses that may occur after that point. You are solely responsible for the management of those Virtual Assets once credited.

4.24 Nothing in these Terms and no act done in connection with it shall give rise to any fiduciary or equitable duties on OKX HK’s part.

4.25 The User acknowledges that OKX HK has the right to set trading limits and parameters at OKX HK’s sole and absolute discretion and the User undertakes to comply with those limits and parameters. Such limits and/or parameters may be amended, increased, decreased, removed or added by OKX HK at its sole and absolute discretion from time to time which may include:

(a) maximum order amounts and maximum order sizes;

(b) maximum amount of Fiat Currency and/or Virtual Asset, in aggregation or in relation to specific or specific types of Fiat Currency and Virtual Asset, to be held in the Account;

(d) the price limit at which an instruction may be given; and

(e) any other limits, parameters or controls which OKX HK may be required to implement under any Applicable Laws and Regulations.

4.26 OKX HK may send a confirmation to the User by email, a Notice, or any other means of communication as provided for under these Terms, every time a User places an Order, cancels an Order, and when that Order is partially or completely filled.

4.27 The User acknowledges that for the purposes of determining if the trading limits and parameters set by OKX HK are met, OKX HK may take into consideration the overall position of the User by accumulating the User's Fiat Currency and Virtual Assets positions at different sub-accounts and within a set period of time as OKX HK may determine. OKX HK has the sole and absolute discretion to make the final decision as to whether the trading limits or parameters are adhered to, and in the case of breaches determined by OKX HK, OKX HK may decline to act on an instruction or take other actions as it may determine.

Suspension of Services

4.28 The User acknowledges and agrees that OKX HK shall have, at OKX HK’s sole discretion, the right to suspend all or part of the Services, or the User’s access to all or part of the Services, with or without notice and with or without providing any reason to the User, whenever OKX HK determines in OKX HK’s sole discretion that:

(a) the User may have breached these Terms; or

(b) the proper functioning of the OKX HK Platform is in jeopardy or may be in jeopardy should all or part of the Services be continued to be provided to you.

For the purposes of sub-clause (b) above, the proper functioning of the OKX HK Platform will be in jeopardy in the following circumstances:

(i) when a computer or telecommunications network ceases to operate or function as a result of an accident;

(ii) in the event of a Force Majeure Event which affects the provision of the Services;

(iii) when OKX HK’s assets or the User’s Assets, or the OKX HK Platform, are the subject of an attempted or actual malicious attack which may, among other things, result in the theft or loss of such assets;

(iv) when an event affects the proper functioning of critical systems relied upon by the OKX HK Platform, including the pricing system or any other system necessary for the provision of the Services;

(v) when OKX HK suspects unauthorized use of the OKX HK Platform, or a breach of these Terms or Applicable Laws and Regulations;

(vi) when OKX HK determines that it is necessary, in its sole discretion, to conduct investigations in light of its requirements under Applicable Laws and Regulations or to ensure the proper functioning of the OKX HK Platform;

(vii) when OKX HK decides to cease handling a Virtual Asset based on the results of a Hard Fork that causes a chain split or changes to a Virtual Asset;

(viii) when OKX HK deems that the provision of the Services cannot continue due to changes in Applicable Laws and Regulations, social conditions, or factors outside OKX HK’s control, including but not limited to when a Virtual Asset is no longer deemed an “Acceptable Virtual Asset” by the Competent Authorities; or

(ix) when for any other reason, OKX HK determines in its sole discretion that the suspension is necessary.

4.29 (This Clause is not applicable to you if you are an Institutional Professional Investor or a Qualified Corporate Professional Investor) In conducting any Relevant Activities, if we solicit the sale of, or recommend any product including Virtual Assets to you, the product must be reasonably suitable to you having regard to your financial situation, investment experience and investment objectives. No other provision of these Terms or any other document we may ask you to sign and no statement we may ask you to make derogates from this Clause.

5 INSTRUCTIONS

5.1 The User shall give instructions (including to buy or sell a Virtual Asset) to OKX HK itself or through its authorised persons for and on its behalf through such means and medium agreed by OKX HK from time to time. OKX HK shall not be responsible for any delay, failure, error, interruption or suspension in the transmission or communication of any instruction.

5.2 Users should verify all transaction information prior to submitting an Order. Users acknowledge and agree that it is the sole responsibility of the User to ensure the validity and accuracy of an Order, including the details of the recipient of any Virtual Assets or Fiat Currency. To the fullest extent permissible pursuant to Applicable Laws and Regulations, OKX HK shall not be liable for the consequences of the User not providing valid and accurate information when placing an Order.

5.3 When a User places an Order to buy or sell Virtual Assets, that quantity of the relevant Virtual Assets (including any applicable Fees) is placed on hold in the Account until the Order fills, expires, or is canceled. Any unfilled portion of an Order will remain on hold until it fills, expires, or is canceled.

5.4 A User may withdraw or cancel an Order after it is submitted, as long as such Order has not been executed. Virtual Assets which are the subject of a pending Trade shall not be reflected in a User’s Account, and shall therefore not be available for the User to trade. Users understand and agree that:

(a) transactions are irreversible once Orders are executed; and

(b) while OKX HK may, at its sole discretion, reverse a transaction under certain extraordinary conditions (including but not limited to breaches of the Applicable Laws and Regulations or Financial Crime), a User does not have a right to a reversal of a transaction.

5.5 OKX HK may prescribe cut-off time for receiving instructions, including but not limited to when there is a scheduled system maintenance or upgrade. OKX HK has the right not to process an instruction if OKX HK receives the instruction after the cut-off time prescribed by OKX HK.

5.6 OKX HK may but is not obliged to act on any instruction. OKX HK shall be entitled to treat any such instruction which may be or purport to be given by the User or his authorised persons in accordance with these Terms as fully authorised and conclusively binding upon the User without further inquiry or verification on the part of OKX HK as to the authenticity or identity of the person making or giving or purporting to make or give such instructions. To the fullest extent permissible pursuant to Applicable Laws and Regulations, OKX HK shall not be liable for any losses suffered or incurred by the User as a result of OKX HK acting upon the same. Where any instruction is ambiguous or in conflict with any other instruction, OKX HK shall be entitled but is not obliged to act on such instruction based on OKX HK’s interpretation of the prevailing instruction as OKX HK determines at its sole and absolute discretion.

5.7 OKX HK shall have the sole and absolute discretion to determine whether or not to accept any instruction and may refuse to act on and shall not be obliged to give reasons for such refusal. To the fullest extent permissible pursuant to Applicable Laws and Regulations, OKX HK shall not be liable to the User for any loss arising out of or in connection with its not accepting or acting on any instruction, or omitting to notify the User of such refusal. In particular, OKX HK may refuse to act on any instruction in any of the following circumstances:

(a) the instruction is ambiguous, incomplete, erroneous or unauthorised;

(b) the instructions, which OKX HK believes, in good faith, are fraudulent, forged or unauthorised;

(d) the instruction is in a form which does not comply with OKX HK’s requirements;

(e) as regards an instruction to purchase Virtual Asset, there are insufficient available Virtual Assets in the appropriate type or Fiat Currency standing to the credit of the Account to meet the purchase price and estimated expenses in connection with that purchase; or

(f) as regards an instruction to sell or dispose of Virtual Asset, there is insufficient quantity of the relevant Virtual Asset to meet the settlement obligation.

5.8 All instructions shall be irrevocable after they are given unless otherwise agreed by OKX HK. OKX HK shall not be obliged to act on any instruction to cancel or amend any instruction already given to OKX HK, nor be responsible or liable to the User or any other person for any loss suffered or incurred in connection therewith.

5.9 In relation to any instructions or communications through the telephone, OKX HK may record and maintain records of instructions or communications with the User or his authorised person(s) regarding the instructions or communications. In case of dispute, the User agrees to accept the contents of any such record kept by OKX HK as final and conclusive evidence of instructions and communications with the User. OKX HK may tape record conversations with the User and/or his or her authorised person(s) in order to permit OKX HK to verify information concerning instructions or any other matters for the purpose of these Terms. The User hereby consents to the recording of such telephone conversations.

6 PAYMENT AND DELIVERY

6.1 The User shall ensure, and the User undertakes and warrants that there shall be sufficient Fiat Currency and sufficient Virtual Assets available in the Account to satisfy all payment and delivery obligations due in relation to any Virtual Asset transactions conducted under these Terms. The User shall otherwise, by such time in such form, quantity and at such place and currency as OKX HK requires, provide OKX HK with:

(a) Virtual Assets for delivery in the case of a sale; or

(b) cleared Fiat Currency and/or Virtual Assets for payment in the case of a purchase,

which shall be:

(i) free of any encumbrances, restrictions or conditions;

(ii) free and clear and without any deduction or withholding on account of any taxes; and

(iii) without deduction or withholding on account of any other amount, whether by way of set-off, counterclaim or otherwise.

6.2 If the User fails to provide the relevant Virtual Assets or Fiat Currency to OKX HK to meet the payment or delivery obligations, OKX HK has the right but is not obliged to, without further notice or demand, take the following actions as OKX HK determines at its sole and absolute discretion:

(a) in the case of a sale of Virtual Assets, to deliver the Virtual Assets by:

(i) buying the Virtual Assets required for delivery at a price it believes to be reasonable; and

(ii) using any Virtual Assets held in the Account for delivery,

then debiting all the costs (including OKX HK's reasonable commission and other transaction costs) from the Account, and crediting to the Account the payment received against delivery (if applicable, after deduction of any withholding tax); and/or

(b) in the case of a purchase of Virtual Assets, to accept delivery of the Virtual Assets and do the following:

(i) debiting the purchase price and expenses from the Account; and

(ii) selling the relevant Virtual Assets (including the purchased Virtual Assets) at a price OKX HK believes to be reasonable, then crediting to the Account the proceeds of sale (after deduction of OKX HK's reasonable commission and other transaction costs and, if applicable, any withholding tax); and

take any other action or step as OKX HK at its sole and absolute discretion considers appropriate or necessary to satisfy the delivery obligations.

6.3 In respect of any payment in any foreign Fiat Currency:

(a) the User shall be solely responsible for ensuring the sufficiency of such currency in the Account for the purpose of settlement of Virtual Asset transactions conducted under these Terms and payment of any fees, charges or expenses in foreign Fiat Currency;

(b) OKX HK may but is not obliged to convert the Fiat Currency in the Account at the User's costs into and from such other currency and such costs will accordingly be debited or credited (as the case may be) to the Account at such exchange rate as OKX HK and/or its agents shall at its/their sole and absolute discretion determine. The User acknowledges that any profit or loss arising from a fluctuation in the exchange rate of the relevant Fiat Currency or the convertibility thereof will be entirely for the User's Account; and

(c) all Fiat Currency exchange risks in respect of any Virtual Asset transactions conducted under these Terms, payment or delivery obligations or steps taken by OKX HK under these Terms shall be borne by the User.

7 SERVICES

7A ON-PLATFORM TRADING SERVICES

7A.1 A User may buy or sell a Virtual Asset by placing an Order on the OKX HK Platform.

7A.2 The OKX HK Platform is accessible twenty-four (24) hours a day, seven (7) days a week and three hundred and sixty-five (365) days a year, except for any period during which scheduled maintenance or upgrades are being carried out, or in the event that the OKX HK Platform encounters an interruption or outage that is unexpected or beyond its control.

7A.3 OKX HK may, at its sole discretion and without prior notice close a User’s Account, or suspend a User’s access or use of the OKX HK Platform or the Services, refuse any Order submitted, or impose limits on trading amounts on the OKX HK Platform, if OKX HK deems that a User may have contravened Applicable Rules and Regulations.

7A.4 By entering into these Terms, Users acknowledge and agree that:

(a) by entering into a Trade on the OKX HK Platform, a User is instructing OKX HK to carry out the Trade at the buy price or sell price quoted on the OKX HK Platform on the basis of which the User placed the Order, and the User agrees to pay any associated fees. The price of a Trade shall be determined to be the price agreed between the User and the other party to that Trade, and OKX HK shall not be a party to such Trade or responsible for setting or negotiating the price of a Trade, except as set out specifically in these Terms. Users shall not claim against OKX HK regarding such Trades. OKX HK does not guarantee the completion of any attempted sale or purchase of Virtual Assets;

(b) OKX HK carries out Trades based on price-time priority;

(d) Orders submitted through the API are subject to the same price-time priority as Orders received from the OKX HK Platform;

(e) all filled Orders are settled immediately by debiting and crediting the relevant balances of Virtual Assets or Fiat Currency in both parties’ Accounts. Users will receive immediate notification of their fill(s) via the OKX HK Platform and/or via email or any other agreed means of communication and they can be viewed in a User’s trading history;

(f) APIs enable a User to stream live prices into their own user interface as well as to perform the same Trade or to place the same Order that is available to the User on the OKX HK Platform;

(g) in order to maintain a fair and orderly OKX HK Platform, OKX HK may restrict the number of Orders allowed through the API and monitor messages through the API in order to:

(i) protect the API against denial of service attacks;

(ii) prevent the abuse of an order book; and

(iii) improve the overall trading experience on the OKX HK Platform.

7A.5 OKX HK may limit the number of Orders placed through a User’s Account.

7A.6 Use of the API will be for legitimate trading purposes and any repeated violation of Order rate limits will result in OKX HK suspending or closing the User’s Account in accordance with these Terms.

7A.7 The transaction history provided on the OKX HK Platform is the true and accurate record of a User’s transactions. It is a User’s responsibility to remain up to date on its transaction history and any Notices with respect to the User’s Account.

7A.8 Users understand and agree that there may be a delay in executing a Trade on the OKX HK Platform as a result of OKX HK’s secure trading protocols which require Virtual Asset private keys to be stored securely using a combination of online and offline storage for added security.

Scheduled downtime

7A.9 The User agrees and understands that part of or all of the Services may be periodically unavailable during scheduled maintenance.

7A.10 Downtime may be communicated in advance to the User via a Notice published on the OKX HK Platform or by other means.

7B OFF-PLATFORM TRADING SERVICES

7B.1 You acknowledge and understand that conflicts of interest may arise when OKX HK provides off-platform trading services to you as OKX HK may enter into Virtual Asset transactions with you on OKX HK's own account as principal.

7B.2 You agree that an instruction to acquire or dispose of a Virtual Asset given by you to OKX HK through an off-platform arrangement may result in a binding Virtual Asset transaction between you and OKX HK only upon OKX HK fully and unconditionally accepting your offer to acquire or dispose of such Virtual Asset from or to OKX HK as principal.

7C CUSTODY SERVICES

7C.1 The User acknowledges and agrees that the custody services under these Terms:

(a) are made available by OKX HK only in connection with Eligible Virtual Assets and Fiat Currencies that OKX HK and the Associated Entity determine, in their sole discretion, to support and elect to accept. Such support and election to accept may be changed or revoked from time to time at the sole discretion of OKX HK and the Associated Entity. Details of the Eligible Virtual Assets and Fiat Currency supported and accepted by OKX HK and the Associated Entity will be disclosed on the OKX HK Website from time to time; and

(b) despite sub-clause (a) above, we may, at our sole and absolute discretion, refuse to receive any Virtual Assets (including Eligible Virtual Assets) or Fiat Currency, in whole or in part, without providing any reason. If Virtual Assets and/or Fiat Currency which we refuse to accept have been transferred into your Account, we will take reasonable steps to notify you and you shall promptly take all such actions (including giving us the relevant instructions) to facilitate us in transferring away such Virtual Assets or Fiat Currency.

7C.2 OKX HK reserves the right and discretion not to accept all or any portion of Virtual Assets or Fiat Currency for and on behalf of any User if:

(a) OKX HK reasonably believes that the User is not the legal and beneficial owner of the Virtual Asset or Fiat Currency to be deposited into the User's Account and OKX HK is not provided with the requisite transfer documents, information or instruction to enable the transfer of beneficial ownership to the User;

(b) OKX HK is not provided with the requisite transfer document, information or instruction to enable the registration of the Virtual Asset in OKX HK's name or in the name of the Associated Entity; or

(c) OKX HK reasonably believes that the Virtual Asset is not free of mortgage, charge, pledge, lien, right of set-off or any security interest, encumbrances or claims of any kind in favour of any person other than OKX HK.

7C.3 Subject to Applicable Laws and Regulations, where OKX HK or the Associated Entity receives or holds Client Virtual Assets for and on behalf of the User, OKX HK or the Associated Entity may at its sole and absolute discretion deposit such Client Virtual Assets in a segregated account (which is designated as a trust account or a segregated client account) established and maintained by the Associated Entity.

7C.4 Without prejudice and in addition to other rights and remedies of OKX HK, OKX HK may, at any time and from time to time, deposit, transfer, lend, pledge, repledge or otherwise deal with or create any encumbrance over the Client Virtual Assets:

(a) for the settlement of any Virtual Asset transaction conducted under these Terms;

(b) for the settlement of any fees and charges owed by you to us in respect of the Services provided to you; or

7C.5 Subject to Applicable Laws and Regulations, where OKX HK or the Associated Entity receives or holds Client Money for and on behalf of the User, OKX HK or the Associated Entity may at its sole and absolute discretion deposit such Client Money in a segregated account (which is designated as a trust account or a segregated client account) established and maintained by the Associated Entity:

(a) with an Authorised Financial Institution; or

(b) if received by us outside of Hong Kong, maintained with another banking institution in a jurisdiction as may be consented by the SFC from time to time.

7C.6 Without prejudice and in addition to other rights and remedies of OKX HK, OKX HK may, at any time and from time to time pay any amount of Client Money out of a segregated account:

(a) for paying you;

(b) for the settlement of any Virtual Asset transaction conducted under these Terms;

(d) in accordance with your Standing Authority or instruction.

7C.7 The User agrees that OKX HK is entitled to retain the interests accrued on the Client Money held in a segregated account and OKX HK is not liable to pay any interests to the User on any Client Money held or received.

7C.8 You acknowledge and agree that:

(a) Client Virtual Assets held by the Associated Entity under these Terms may not enjoy the same protection as that conferred on “securities” under the SFO, the Securities and Futures (Client Securities) Rules (Cap. 571H of the Laws of Hong Kong) and the Securities and Futures (Client Money) Rules (Cap. 571I of the Laws of Hong Kong);

(b) OKX HK or the Associated Entity is not bound to return to you the identical Virtual Assets we received from or for you;

(c) where Client Money is received or held overseas, such assets may not enjoy the same protection as that conferred on Client Money received or held in Hong Kong;

(d) unless otherwise agreed by OKX HK, OKX HK and the Associated Entity are not obliged to investigate, participate in, take any affirmative action in relation to the attendance of any meetings, participation in any staking arrangements, or exercise any voting or other rights as may be attached to or derived from Virtual Assets held for and on behalf of the User.

8 YOUR OKX HK ACCOUNT

8.1 By requesting OKX HK to provide any Service, the User authorises OKX HK to open and maintain an Account for the User and to conduct transactions and activities thereunder in relation to such Service. When the User opens the Account online, in addition to completing and returning the account opening documents through the internet, the User agrees and undertakes to execute and provide such other documents and information in such manner and form as OKX HK may require. OKX HK shall be entitled to refuse to open an Account, provide any Services or proceed with any instructions unless and until it has received all the documents and information in such manner and form acceptable to OKX HK.

8.2 Account Registration and Identity Verification: in order to use any of the Services, you are required to provide accurate information for all fields on the registration page to verify your identity, along with affirming these Terms. By registering an Account with OKX HK, You agree and represent that You will use the Account only for yourself, and not on behalf of any third party, unless approved by OKX HK. You agree to provide us with authentic information at registration and on an ongoing basis for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime, including without limitation a copy of your government issued photo ID and evidence of residency such as a utility bill or bank statement. If any such information changes, it is your obligation to update such information as soon as possible.

8.3 Protecting your Account: you agree to not enable anyone to use or direct your Account, and to update us of any information change or if your Account has been compromised. You are responsible for keeping, protecting and safeguarding any keys, certificates, passwords, access codes, user IDs, API Key or other credentials and login information (collectively "Passwords") that have been provided to you or that are generated in connection with your use of the Services. If you lose your Passwords, you may not be able to access your Account. You agree to notify us immediately of any unauthorized use of your Passwords. We will not be responsible for any liabilities, losses, or damages of any kind, whether direct or indirect, arising out of the unauthorized use of your Passwords. You understand and agree that if you authorize any third party or third-party platform to use the Passwords information of your Account, the third party or third-party platform will know your Account information (including without limitation, information in relation to your assets, transactions, operating authority for trading and Account information, etc.), and your Account will be exposed to certain risks and may suffer loss or damage. You agree to be solely responsible for any loss or damage caused by you authorizing any third party or third-party platform to use your Passwords information, and any loss or damage caused to you by the third party or third-party platform using your Account Passwords information. We will not be liable for any compensation or other legal liabilities for the loss or damage caused by the above-mentioned circumstances. We provide an online trading platform, and to avoid potential security risks, the login password, administration password and any other passwords shall not be set as the same. Relevant responsibilities shall be borne by the Users. Once the User is registered, and becomes a User of the OKX HK Platform, he or she will get the username (user mailbox) and password, and is responsible for all activities and events with this username and password after entering the system, and bear all the legal liability directly or indirectly caused by the language and behaviors of the use of this username.

8.4 Password Recovery: Users who lose their passwords can reset it after being verified through their registered email addresses or phone numbers. You shall immediately report to us if any unauthorized operations or security breaches are found.

8.5 Account Balance: if your Account shows a credit balance, you may request us to return available Virtual Assets. However, we may at our discretion elect to withhold (or if applicable, deduct) your request to withdraw (in whole or in part) Virtual Assets to you if:

(a) you have any actual or contingent liability towards us under these Terms; and/or

(b) we reasonably determine that there is an unresolved dispute between us in connection with these Terms.

8.6 Account Closure: you may request OKX HK to close your Account at any time. Closing an Account will not affect any rights and obligations incurred prior to the date of Account closure. Prior to OKX HK closing your Account, you may be required to either cancel or complete all open orders and, in accordance with the provisions of these Terms, provide transfer instructions of where to transfer any Fiat Currency and/or Virtual Assets remaining in your Account. You are responsible for any fees, costs, expenses, charges, or obligations (including, but not limited to, attorney and court fees or transfer costs of Fiat Currency or Virtual Assets) associated with the closing of your Account. In the event that the costs of closing your Account exceed the value in your Account, you will be responsible for reimbursing us. You may not close any of your Accounts to avoid paying any fees otherwise due or to avoid any examination related to our AML Program. OKX HK reserves its absolute right to accept or reject an Account closure request at its sole discretion.

8.7 Account Suspension: OKX HK has the right at any time to suspend Your Account(s). Also, you agree that we can freeze/lock the Client Money and Client Virtual Assets in Your Account(s) and suspend part of or all of your access to the OKX HK Platform, if we suspect, at our sole discretion, any of the following:

(a) You / Your Account(s) are or have been operated in violation of any terms and conditions of these Terms and any other policies, rules, regulations, user agreements, or programs of OKX, including but not limited to the OKX HK AML Program;

(b) Your Account has a balance that needs to be reconciled for any reason;

(d) you are using your credentials or other Account information in an unauthorized or inappropriate manner;

(e) for reasons relating to Clause 14 of these Terms;

(f) for reasons relating to investigations under Clause 8.8 of these Terms; or

(g) an Event of Default (as defined below in Clause 24 of these Terms) has occurred.

Also, we may require you to submit additional information and complete other verification or attestation actions if there is need to conduct Enhanced Due Diligence on You/ Your Account(s).

8.8 Investigation: OKX HK shall investigate and take action(s) against You/ Your Account(s), including suspending, freezing and/or seizing Your Account(s), in the event that we suspect or otherwise have cause to believe, at our sole discretion, any of the following:

(a) You/ Your Account(s) are the subject of any investigation by law enforcement, government bodies, warrants, subpoenas, court orders or other similar procedures and processes in any relevant jurisdiction;

(b) You/ Your Account(s) are the subject of any pending and/or current litigation in any applicable jurisdiction;

(d) You/ Your Account(s) are involved in suspicious, illegal or fraudulent activities.

8.9 Account Termination: OKX HK has the right to terminate Your Account(s) at any time and for any reason, and at our sole discretion, including those in Clause 13. You further agree and understand that we have the right to take any and all necessary and appropriate actions pursuant to these Terms, including but not limited to recovering reasonable costs, and in accordance with any Applicable Laws and Regulations.

8.10 Effect of Suspension or Termination: OKX HK shall continue to maintain custody of all Virtual Assets, Fiat Currency, and information in or relating to such Accounts, which may be seized and turned over to any third parties, including but not limited to the Competent Authorities, in the event that Your Account(s) was suspended or terminated pursuant to the reasons set out in Clause 8 of these Terms.

8.11 If Your Account(s) is terminated, subject to Clause 8.10 and any ongoing investigations and considerations, we will return your Fiat Currency or Virtual Assets , less the value of any trading fee discounts, rebates, costs, expenses and/or damages that we are entitled to pursuant to these Terms and Applicable Laws and Regulations in any applicable jurisdiction(s). If Your Account is not, or is no longer subject to an investigation, court order, subpoena or similar legal procedure in any applicable jurisdiction(s), you authorize us to return your Fiat Currency or Virtual Assets (less any trading fee discounts, rebates, costs, expenses and/or damages to which we are entitled) to any bank account linked to your Account, unless otherwise required by Applicable Laws and Regulations. If there is any Virtual Asset balance remaining in Your Account(s), you agree to provide us with a Virtual Asset address upon receiving written notice from us, so that we can return the remaining Virtual Assets to you.

8.12 In addition to the foregoing, and to the fullest extent permitted under Applicable Laws and Regulations, the event that an Event of Default occurs,

(a) any delivery, payment or other obligation owed by you to any party, including but not limited to OKX HK, pursuant to activities involving Your Account(s) shall mature, accrue or otherwise be accelerated so as to require performance thereof on the date such Event of Default ("Accelerated Obligations"); and

(b) without prejudice to such other rights that may accrue to OKX HK under these Terms or otherwise, OKX HK shall be entitled to take all actions deemed necessary in its sole discretion to protect its interests and discharge the Accelerated Obligations, including but not limited to closing any open trading positions, liquidating assets in Your Account to repay any amounts and other liquidatable obligations owed to OKX HK, and transferring assets to third parties in accordance with court orders.

9 STATEMENTS OF ACCOUNT, CONTRACT NOTES, RECEIPTS AND CONFIRMATIONS

9.1 OKX HK may provide any statements of accounts, contract notes, receipts or confirmations relating to the Account and/or Services ("Statements") through such means as determined by OKX HK subject to Applicable Laws and Regulations. You consent that all Statements will be in electronic or such other form as we may determine, and will be made available to you through the OKX HK Platform or in such other means as we may determine, and if made available to you on the OKX HK Platform, we will maintain the Statements on the OKX HK Platform for your access or use for such period in accordance with Applicable Laws and Regulations and as we may consider appropriate from time to time. You understand that such consent is revocable and if you wish to receive your Statements and other documents by other means, please give us two months advance notice by email to service@okx.com or through the OKX HK Platform. We may decide not to issue any Statements for any Account, where we are not required to do so by Applicable Laws or Regulations, or where it is our policy not to do so. Unless we otherwise agree or as required by Applicable Laws and Regulations, we will not send paper printouts of any Statement to you.

9.2 In relation to the access to the Statements through the OKX HK Website via electronic means, you acknowledge that you understand and accept the following arrangements:

(a) appropriate hardware and software, internet access and a specific email address, mobile phone number or other electronic address provided by you for receiving email, SMS or other electronic notifications from us are required, and it is your responsibility to ensure the same meet the minimum hardware and software requirements for accessing the Statements. You acknowledge that any failure by you to meet these minimum requirements may result in your inability to access the Statements;

(b) internet, email, SMS and other electronic information services may be subject to certain information technology risks and disruption,and risks mentioned in these Terms and the Risk Statements. You confirm that you have assessed and analysed and therefore understand, acknowledge and accept the possible risks involved in the issuance of and access to the Statements, including the Statements being intercepted, monitored, amended, tampered with or being sent or disclosed to other parties without your authorisation;

(c) you may be required to pay a reasonable charge for (i) obtaining a copy of any Statement or document that is no longer available for access and downloading through our website; (ii) requesting us to provide any Statements and documents to you through additional means. You agree to bear, and authorise us to debit from your Account such fees, charges or expenses which may be imposed by us for and in connection with such purposes; and

(d) you should inform us as soon as practicable upon a change in your contact details and address in order to avoid missing any notifications in relation to your Statements and documents.

9.4 You understand and accept that a notice sent by email (and any other means as we may specify) will be the only notice issued by us to inform you that the Statements have been posted and are available through the OKX HK Website. In this regard:

(a) you agree that you will be considered as having received a Statement on the day we notify you that such Statement has been made available to you on the OKX HK Website; and

(b) you further agree that the Statements posted on the OKX HK Website shall be deemed duly provided to you. We will not assume any liability or responsibility for any delay of notification or non-notification, or inability on your part to receive such notification (whether or not due to your failure to provide valid contact details). You must notify us immediately (via such means and in such form and manner as shall be acceptable to us) should you fail to receive, or if there is any delay in or other irregularities or problems relating to the receipt of the notification or in connection with the Statements.

9.3 You should save an electronic copy of the Statement or print a hard copy for future reference.

9.4 The User should examine the Statements to check if any error, omission, discrepancy, unauthorised transaction or irregularity is shown therein. The User should notify OKX HK promptly and in any event within 14 days after the date on which OKX HK sends out such statement, contract note or confirmation, of any such alleged error, omission, discrepancy, unauthorised transaction or irregularity, otherwise (a) the statement, contract note or confirmation will be considered as correct, final, conclusive and binding on the User, and (b) the User will be considered to have waived any rights to raise objection or pursue any remedies against OKX HK therefrom.

10 USERS’ RIGHTS AND LIMITATIONS TO LICENSE USE

10.1 We grant you a limited, non-exclusive, non-transferable license, subject to these Terms, to access and use our OKX HK Platform and Services, solely for approved purposes as permitted by us. You agree that you will not copy, transmit, distribute, sell, license, reverse engineer, modify, publish, or participate in the transfer or sale of, create derivative works from, or in any other way, exploit any of our products and Services.

10.2 You agree that:

(a) all rights, title and interest in the Services and associated software, OKX HK Website and technology, including all intellectual property rights therein, are and shall remain with the Parties;

(b) no right or interest in the Services is conveyed other than the limited licenses granted herein;

(d) all rights not expressly granted in these Terms are reserved.

(e) We have the right to inquire, freeze or deduct the items and Accounts of the User in accordance with the requirements of any applicable judicial organizations, administrative organizations and military organizations, including but not limited to public security organizations, procuratorial organizations, courts, customs, tax authorities and so on.

11 USER OBLIGATIONS

11.1 You shall not register multiple accounts for any purpose.

11.2 You may not use another User’s Accounts.

11.3 You must not use this OKX HK Platform or the Services in any way that causes, or may cause, damage to this OKX HK Platform or impairment of the availability or accessibility of this OKX HK Platform; in connection with any illegal fund for payment and settlement including, but not limited to, payment by illegal means like fictitious transactions, false price, transaction refund and so on; illegal cash-out activity via entity bank settlement accounts; illegal fund transfer from the bank settlement account of an entity to an individual account; illegal check cash-out activity; or for any unlawful, illegal, fraudulent or harmful purpose or activity under Applicable Laws and Regulations. You agree to indemnify and hold OKX HK and its officers, directors, shareholders, predecessors, successors in interest, employees, agents, subsidiaries and affiliates, harmless from any demands, loss, liability, claims or expenses (including attorneys’ fees) made by any third party against OKX HK or its affiliates due to or arising out of or in connection with your use of this OKX Platform or Services.

11.4 You are prohibited in any form from utilizing the OKX HK Website to engage in illegal activities. Without the authorization or permission of OKX HK, you shall not use any of the commercial activities in the name of the OKX HK Website or in any form of the OKX HK Website as a place, platform or medium for engaging in commercial activities.

11.5 You shall comply with all Applicable Laws and Regulations, and bear the responsibility and legal consequences of any of your own actions involving the OKX HK Website and Services. In addition, you shall not infringe the legitimate rights and interests of any third party. Additionally, if OKX HK suffered losses as a result of your actions, OKX HK has the right to recover losses from you via legal actions or other means.

11.6 You shall bear any loss as a result of your actions, including but not limited to:

(a) “fat finger” input or instructions errors, including price, quantity, and/or timing (market vs. limit order specification) errors;

(b) mistiming or mis-submission of trade instructions;

(d) computer or network issues, including any hacks or virus issues related to your computer or network (or the network you are utilizing);

(e) transfer-in or withdrawal of Virtual Assets or Fiat Currencies to or from the wrong account;

(f) executing instructions provided to you by a third-party; or

(g) third parties accessing and using your Account for any reason.

11.7 It is your sole responsibility to ensure that all Account information is verified before making any transfers so that Virtual Assets or Fiat Currencies are transferred into the correct Account. If you transfer Virtual Assets or Fiat Currencies to a wrong Account and such Account is controlled by us, we will have the sole discretion to reject the transaction and return to you the relevant amount of Virtual Assets or Fiat Currencies, less applicable fees.

11.8 If you violate any obligation above, OKX HK has the right to take all necessary measures directly, including but not limited to deleting the content posted by you, canceling the customer star rating and honor, freezing your balance, pausing or seizing your Account and illegal gains, and prosecution.

12 FEES

12.1 Fees may be incurred for part of the Services provided by us to you. By using our Services, you agree to incur these fees.

12.2 OKX HK has the right to set and modify its fee structure at its discretion. We may also start charging fees on free services. Any fee changes shall be announced in advance.

12.3 If you do not agree with any fees charged, you may stop using one or more of the Services immediately. You are still responsible for any fees incurred up to the date of termination of the Services.

12.4 Unless otherwise stated or agreed, you agree that we have the right to automatically and without prior notice deduct the above-mentioned service fees directly from the assets of your Account.

12.5 If you do not pay in full and on time, we reserve the right to interrupt, suspend or terminate your Account.

13 CHANGE, INTERRUPTION, TERMINATION, AND DISCONTINUANCE OF SERVICES

13.1 Service Change and Interruption: we may change the Services and/or may also interrupt, suspend or terminate the Services at any time with or without prior notice.

13.2 Service Discontinuance and Termination: we reserve the right, at our sole discretion, to discontinue or terminate the Services provided to you without notice, temporarily or permanently, including, but not limited to, in the following cases:

(a) if the personal information you have provided is not true, complete, accurate, or is inconsistent with the information provided at the time of registration and you have failed to provide reasonable proof (please remember, according to the Applicable Laws and Regulations you should submit true, complete and accurate information);

(b) if You violate the Applicable Laws and Regulations;

(c) if You/ Your Account(s) violate any terms and conditions of these Terms, and any other policies, rules, regulations, user agreements, or programs of OKX HK, including but not limited to the OKX HK AML Program;

(d) if required by any provisions of Applicable Laws and Regulations, or by the relevant Competent Authorities;

(e) for reasons relating to investigations under Clause 8.8 of these Terms; or

(f) for security reasons, or other necessary circumstances, in order to protect Your Account(s) from unauthorised access, among other things, as determined at our sole discretion.

14 UNCLAIMED PROPERTY

Obligations of OKX HK

If you have any Fiat Currency or Virtual Assets held by OKX HK in your Account and OKX HK is unable to contact you and has no record of your use of the Services for a period of time exceeding not less than twelve (12) months or, in certain jurisdictions, the period of time required by applicable laws or regulations in relevant jurisdiction(s), OKX HK may be required to report these Fiat Currency or Virtual Assets as unclaimed property in accordance with the Applicable Laws and Regulations. OKX will use reasonable endeavors to locate you using the contact information available to OKX HK.

14.1 If OKX HK is unable to locate you, OKX HK reserves the right to:

(a) close your Account and terminate these Terms; and

(b) deliver all Fiat Currency or Virtual Assets as unclaimed property as it may be directed by the Competent Authorities or any court of competent jurisdiction.

14.2 If we receive any document(s) confirming your death or other information leading OKX HK to believe that you have died, OKX HK reserves the right to freeze your Account.

14.3 Your Account will be unfrozen either:

(a) when your designated fiduciary has opened a new Account, as further described in Clause 14.5 below, and the entirety of your Account has been transferred to such new Account, or

(b) OKX HK has received proof in a form satisfactory to us that you have not died.

14.4 If OKX HK has reason to believe you may have died but does not have proof of your death in a form satisfactory to OKX HK, you authorize OKX HK to make enquiries, whether directly or through third parties, that we consider necessary to ascertain whether you have died. Upon receipt by OKX HK of proof satisfactory to OKX HK that you have died, the fiduciary you have designated in a valid will or similar testamentary document will be required to open a new Account.

14.5 If you have not designated a fiduciary, then OKX HK reserves the right to treat as your fiduciary any person entitled to inherit your Account, as determined by OKX HK upon receipt and review of the documentation that OKX HK, in its sole and absolute discretion, deems necessary or appropriate, including (but not limited to) a will, a living trust or other similar documentation, or an order designating a fiduciary from a court having competent jurisdiction over your estate.

14.6 In the event OKX HK determines, in its sole and absolute discretion, that there is uncertainty regarding the validity of the fiduciary designation, OKX HK reserves the right to require an order resolving such issue from a court of competent jurisdiction before taking any action relating to your Account.

Expenses

14.7 OKX HK shall be entitled to deduct from any Fiat Currency all costs and expenses incurred in connection with this Clause 14.

15 COMPLIANCE WITH YOUR LOCAL LAWS AND TAXES

15.1 It is your sole responsibility to determine whether, and to what extent, any taxes apply to any transactions you conduct through the Services, and to withhold, collect, report and remit the correct amounts of taxes to the appropriate tax authorities. You agree that we do not provide legal or tax advice and are not responsible for determining whether taxes apply to your transactions, or for collecting, reporting, withholding or remitting any taxes arising from any transactions. It is highly advisable that you consult your lawyer/ professional tax adviser to determine your obligations and your tax status in your home jurisdiction.

15.2 Additionally, you agree to comply with all relevant laws of Hong Kong and any relevant laws and regulations in any other applicable jurisdiction(s). Regarding the prevention of terrorist financing and anti-money laundering (“AML”), and also compliance with laws and regulations in any applicable jurisdiction(s) more generally, we will work with the Competent Authorities and local, regional, national and multi-national authorities around the world as required, and may provide any information associated with You to such authorities. We may also access and disclose information we stored associated with You to external third parties if, in our sole discretion, we believe doing so is required or appropriate to: comply with relevant law enforcement or national security requests and legal procedure in any applicable jurisdiction(s), such as a court order or a subpoena; protect your, our, or others’ rights, property, or safety; enforce our applicable service terms, user agreement, trading rules, operational rules, policies or any other agreements; collects amounts owed to us; or assist with an investigation or prosecution of suspected or actual illegal activity.

15.3 When using our Services, you acknowledge, represent and undertake and agree that all your actions on and off this OKX HK Platform are made in a legal and proper manner and your sources of Virtual Assets and Fiat Currency are not from illegal activities. If in our sole discretion we believe that You are in breach of the above representation and undertaking, we may discretionarily or in coordination with local law enforcement authorities seize, freeze, restrict or close-out Your Account(s) and any Fiat Currency and Virtual Assets held on your Account(s).

15.4 The provision of the Services, the operation of the Account and all the transactions and activities in connection thereto shall be subject to Applicable Laws and Regulations.

15.5 The User shall not instruct OKX HK, and OKX HK shall not be obliged to act upon instructions to do anything which is a breach of, would be or is likely to be in breach of Applicable Laws and Regulations.

15.6 In providing a Service to the User, OKX HK may take such action as it may at its sole and absolute discretion consider necessary or desirable to permit it to perform its duties and exercise its rights and discretions under these Terms and to comply with Applicable Laws and Regulations. OKX HK may demand that the User shall take or refrain from taking any such action to ensure compliance. The User shall do all things required by OKX HK to comply with, procure or ensure compliance with Applicable Laws.

15.7 In the event that the Competent Authorities require any alteration to the terms and conditions of any Virtual Asset transaction conducted under these Terms, OKX HK may take all such actions as it may at its sole and absolute discretion consider necessary or desirable to comply with such requirement, or to avoid or mitigate loss arising therefrom, and all such actions shall be binding on the User.

15.8 If the User resides or is incorporated outside Hong Kong, or is a citizen or resident of a jurisdiction other than Hong Kong, or gives instructions from a jurisdiction outside Hong Kong, the User represents, warrants and undertakes that all of the User's instructions are in compliance with all Applicable Laws and Regulations of the relevant jurisdiction. The User will seek legal and other professional advice in the relevant jurisdiction as he considers necessary and appropriate.

15.9 Without prejudice to the foregoing, the User undertakes to comply with the User's reporting obligations to the Competent Authorities pursuant to Applicable Laws and Regulations, to which the User may, from time to time, be subject. The User further undertakes that the User shall be and will continue to be solely responsible for the satisfaction of and the compliance with such reporting obligations applicable to the User, and acknowledges that OKX HK shall not be required to do so on behalf of the User and shall not be responsible or liable as such. Without prejudice to the foregoing, in the event that the User is subject to any reporting obligation at any time in respect of the User's positions held at or through OKX HK, the User undertakes to notify OKX HK promptly and provide such information and documents as OKX HK may request from time to time. In particular, the User undertakes to promptly make the necessary reporting to the relevant Competent Authority in satisfaction of the User's reporting obligations, and provide OKX HK with copies of any such reports on the same date as such filing.

16 Privacy Notice

Please refer to our Privacy Notice Statement for information about how we collect, use, and share your information.

17 LIMITATION OF LIABILITY, WARRANTIES AND INDEMNIFICATION

Exclusion of liability

17.1 Neither OKX HK nor any of its Related Parties shall be liable for any Loss arising, directly or indirectly, from:

(a) any dispute between you and one or more other Users;

(b) any Losses arising from your breach of these Terms;

(d) any act or omission by a third party with access to your Account,

and you hereby release and waive any right to claim any such Loss from OKX HK and/or its Related Parties.

Limitation of liability

17.2 To the fullest extent permitted by the Applicable Laws and Regulations, the total aggregate liability of OKX HK for Losses that the User may suffer arising out of, or in connection with the information or material provided by or on behalf of OKX HK and its Related Parties on the OKX HK Platform shall be limited to a maximum aggregate value of USD100.

17.3 To the fullest extent permitted by the Applicable Laws and Regulations, the total aggregate liability of OKX HK for Losses, arising out of an individual claims or series of claims, incurred by:

(a) an Applicant arising out of, or in connection with an application;

(b) You arising out of, or in connection with:

(i) the Services;

(ii) any performance or non-performance of the Services;

(iii) any information or material provided by, or on behalf of, OKX HK and/or its Related Parties (other than information or materials referred to in Clause 17.3); or

(iv) any other breach of these Terms, shall be limited in aggregate to the lower of:

(a) USD 100; or

(b) the total fees paid by the User to OKX HK in respect of the Services during the preceding twelve (12) month period (the “Cap”).

17.4 Where a claim arises in relation to a specific Trade, the total liability to the User, of OKX HK, its shareholders, affiliates or services providers, and their respective officers, directors, employees, agents or representatives shall be limited to the purchase / sale amount of the Trade in dispute by reference to the price for such Trade at the time it took place or ought reasonably to have taken place and in any case subject to the Cap.

17.5 In no event shall OKX HK and/or OKX HK’s Related Parties be liable to you for any Indirect Losses.

17.6 Nothing in these Terms shall limit OKX HK and/or OKX HK’s Related Parties liability to you resulting from OKX HK’s:

(a) fraud or fraudulent misrepresentation;

(b) deliberate misconduct; or

17.7 Any exclusions or limitations of liability contained in this Clause 17 shall not limit OKX HK’s liability which cannot be excluded or limited under the relevant Applicable Laws and Regulations.

Force Majeure Events

17.8 Neither party shall be liable for any delay or failure to perform any of their obligations under these Terms caused by a Force Majeure Event.

Indemnification

17.9 To the fullest extent permitted by the Applicable Laws and Regulations, you agree to indemnify, hold harmless and promptly defend OKX HK and OKX HK’s affiliates and associates (including our and their respective agents (if any) and the shareholders, directors, officers and employees of OKX HK and OKX HK’s affiliates and associates) (each an “Indemnified Party”) from and against any and all losses arising from or in connection with any third-party claims, losses, liabilities, damages, judgments, penalties, fines, costs and expenses of whatever kind (including professional fees and reasonable attorney’s fees) which may be suffered or incurred by any of the Indemnified Party arising out of or related to:

(a) your (or any of the User’s Authorised Representatives’) use of or conduct in connection with the Account or the Services;

(b) your failure to perform any of your obligations under these Terms;

(d) your violation of any Applicable Laws and Regulations;

(e) your violation of the rights of any third party;

(f) any third party claim related to your use of the Service(s);

(g) any false, inaccurate, misleading or deceptive information provided by you to OKX HK in the course of OKX HK providing you with the Services under these Terms;

(h) any investigation, claim, suit, action or other proceeding against us relating to or arising out of your use of the Service(s) by a governmental authority or regulatory or self-regulatory agency or organization in any applicable jurisdiction(s); or

(i) any breach by the User of any of the representations, warranties and undertakings made by the User to us under these Terms.

17.10 If you are obligated to indemnify OKX HK or any of its Related Parties pursuant to this Clause 17.10, OKX HK will have the right, in its sole discretion, to control any action or proceeding and to determine whether it wishes to settle and, if so, on what terms.

Disclaimer of warranties

17.11 The Services and any information or materials provided by OKX are provided on an “as is” and “as available” basis. OKX HK expressly disclaims and the User waives any and all warranties of any kind, whether express or implied, including, without limitation:

(a) implied warranties of merchantability, fitness for a particular purpose, title and/or non-infringement; and

(b) warranties arising from the course of performance, course of dealing or usage in trade.

17.12 Without limiting Clause 17.11, the User acknowledges that:

(a) OKX HK does not represent or warrant that the Services, any interface used to access the Services, the OKX HK Website or any information or materials provided or made available by OKX HK are accurate, complete, reliable, current, error-free, free of viruses or other harmful components, or any other defects; and

(b) OKX HK does not guarantee that any Order will be executed, accepted, recorded or remain open.

17.13 Except for the express statements set forth in these Terms, you hereby acknowledge and agree that you have not relied upon any other statement or understanding, whether written or oral, with respect to its use and access by you of the OKX HK Platform and/or the Services.

17.14 You hereby understand and agree that OKX HK will not be liable for any Losses arising out of or relating to:

(a) any inaccuracy, defect or omission of any pricing information relating to a Virtual Asset;

(b) interruption in any such data;

(d) any damages incurred by another User’s actions, omissions or violation of these Terms.

17.15 OKX HK cannot ensure or warrant the security or confidentiality of information transmitted to OKX HK or received from OKX HK through electronic means, which includes the internet, wireless connection, email, phone, and SMS, since OKX HK has no way of ensuring that the transmission of such information is protected at all times. If you have reason to believe that your data is no longer secure, you should contact OKX HK at the email address, mailing address or telephone number published on the OKX HK Platform or as notified to the User from time to time.

18 VARIATION

18.1 OKX HK has the right to amend, replace, supplement or delete (each, an Amendment) these Terms or any part of these Terms.

18.2 OKX HK may provide Users with notice of an Amendment by posting the revised Terms and changing the "Last updated" date at the top of these Terms, or by emailing Users at their provided email addresses, or by any other means as determined by us at our sole discretion. Any Amendments will be effective immediately upon posting the revisions to the OKX HK Platform or at the instant that we transmit the information. These Amendments will apply at that instant to all then current and subsequent uses or Services.

18.3 If a User objects to an Amendment, the sole remedy for the User shall be to stop using the Services and close its Account. OKX HK has the right to:

(a) terminate this User Agreement with the User with immediate effect, in accordance with these Terms; and

(b) suspend the User’s access and use of the Services.

19 TRANSFER OF BUSINESS

19.1 In the event of a transfer of the whole of part of the business of OKX HK to any third party, the User consents to the transfer of the business relationship between the User and OKX HK, which includes but is not limited to the User’s:

(a) Account;

(b) Virtual Assets and Fiat Currencies;

(d) Protected Data.

19.2 In the event that OKX HK is acquired by or merged with a third party entity, OKX HK reserves the right to transfer or assign the information collected from Users as part of the acquisition, merger, sale or other change of control.

20 DISCLAIMER

20.1 Service Interruption: based on the special nature of the Internet, we do not guarantee that the Service will not be interrupted. The timeliness and security of the Service are also not guaranteed, and we do not bear the responsibility for any Service interruption which is not caused by us.

20.2 Safety of the Network: we try to provide a safe network environment to Users; however, we do not guarantee that the OKX HK Website or its servers are free of viruses or other potentially harmful factors. Therefore, the User should use the industry’s recognized software to check and kill any virus in the files downloaded from the OKX HK Website.

20.3 User Information: we are not responsible for the failure of preservation, modification, deletion or storage of the information provided by the User. Nor will we be liable for the typographical errors, negligence, etc. not intentionally caused by us. We have the right but no obligation to improve or correct any omission, error of any part of the OKX HK Website.

20.4 Accuracy, Completeness, and Reliability of the OKX HK Website: unless we have expressly agreed in writing, we shall not guarantee the accuracy, completeness, reliability of any content, such as, but not limited to, advertising on the platform in any manner on the OKX HK Website. We are not responsible for any products, services, information or materials purchased or obtained by the User according to the content information on the OKX HK Website. The User bears the risk of using the content of this Website.

20.5 User Opinion: the comments published by Users of the OKX HK Website are only on behalf of the Users’ personal point of view. It does not mean that the OKX HK Website agrees with their views or confirms their description. The OKX HK Website does not bear any legal responsibility caused by any User comments.

20.6 Announcements: in regards to notices issued to the Users, we will deliver these notices through a formal page announcement, station letter, e-mail, customer service phone call, SMS or regular mail delivery. We do not bear any legal responsibility for any winning, discount activities or information which are delivered by other channels.

20.7 Charges, Commissions, Transactions and Other Fees: we charge fees for executing transactions over the centralised exchange and will also charge fees, or offer bid/ask prices with a spread, for OTC transactions. Details of such fees, charges, costs and spreads may be found on the relevant policies and procedures as may be uploaded to the OKX HK Website from time to time. We have the right to adjust the recharge, commission, transaction and other fees according to market conditions, and terminate any promotional efforts early.

21 GOVERNING LAW

21.1 These Terms, your use of the Services, any claim, counterclaim or dispute of any kind or nature whatsoever arising out of these Terms, directly or indirectly, shall be governed by, and construed in accordance with the laws of Hong Kong without regard to the principles of conflicts of laws thereof.

22 JURISDICTION AND DISPUTE RESOLUTION

22.1 You acknowledge and agree that in the event of any dispute, controversy, difference or claim, including the existence, validity, interpretation, performance, breach or termination of these Terms or any dispute arising out of or relating to these Terms (the “Dispute”), the parties shall first refer the Dispute to proceedings at the Hong Kong International Arbitration Centre (the “HKIAC”) in accordance with HKIAC’s Mediation Rules in force for the time.

22.2 If the Dispute has not been settled upon the signing of a settlement agreement within ninety (90) days following the filing of a request for mediation set forth in Clause 22.1, such Dispute shall be referred to and finally resolved by arbitration administered by the HKIAC under the HKIAC Administered Arbitration Rules in force when the Notice of Arbitration is submitted. The law of this arbitration clause shall be the laws of the Hong Kong Special Administrative Region of People’s Republic of China (“Hong Kong”).

22.3 You agree that the seat of arbitration shall be Hong Kong. The number of arbitrators shall be three (3). We shall appoint one (1) arbitrator and you shall appoint one (1) arbitrator. The third arbitrator shall be appointed by the Chairman of the HKIAC. Such arbitrators shall be freely selected, and the parties shall not be limited in their selection to any prescribed list. The arbitration proceedings shall be conducted in English.

22.4 You agree that we shall not be required to give general discovery of documents, but may be required only to produce specific, identified documents which are relevant and material to the outcome of the Dispute.

22.5 Any arbitral award shall be final and binding upon the parties hereto and shall be enforceable in any competent court which has jurisdiction.

23 SEPARABILITY, COMPLAINTS AND MISCELLANEOUS

23.1 Separability: if any provision of these Terms is deemed to be unlawful, invalid or unenforceable for any reason, such provision shall be deemed to be divisible and shall not affect the legal effect of any other provision.

23.2 Complaints: if you have any complaints, feedback, or questions, please contact our Customer Service at Support Center. When you contact us, please provide us with your name and email address and any other information we may need to identify you, and the transaction on which you have feedback, questions, or complaints.

23.3 Miscellaneous: these Terms set forth the complete understanding of the parties with respect to the subject matter hereof and supersedes all prior understandings and communications relating thereto. No term or condition of any other document provided to us which is different from, inconsistent with, or in addition to the terms and conditions set forth herein will be binding upon the Parties. You represent and warrant that all information disclosed to us in connection with these Terms is true, accurate, and complete.

23.4 Each of OKX HK and the User hereby undertakes to notify the other of material changes to:

(a) on the part of the User, the full name and address of the User;

(b) on the part of OKX HK,

(i) the full name and address of OKX HK, its licensing status with the SFC and the central entity number (CE number) as assigned by the SFC;

(ii) the nature of Services to be provided to or available to the User; and

(iii) any remuneration and the basis for payment that is to be paid by the User to OKX HK.

23.5 Third Party Rights: Unless expressly provided to the contrary in these Terms, no person other than OKX HK and the User will have any right under the Contracts (Rights of Third Parties) Ordinance (Cap. 623 of the Laws of Hong Kong) to enforce or enjoy the benefit of any of the provisions in these Terms. Notwithstanding any provisions in these Terms, the consent of any person who is not a party to these Terms is not required to rescind or vary these Terms at any time.

23.6 Conflicts of Interest: The User consents that OKX HK and the Related Parties may have interests which conflict with interests of the User and also OKX HK may owe duties to Users whose interests may conflict with each other. The User understands that conflicts may arise in situations including the below:

(a) OKX HK or the Related Parties may have a holding, dealing, or market making position or may otherwise be trading or dealing in the Virtual Assets or assets of any kind which are derived from or otherwise directly or indirectly related to such Virtual Assets;

(b) the Related Parties may enter into transactions with the User on its own account as principal or on account of another Related Party, or otherwise deal or arrange transactions through a Related Party;

(c) OKX HK may have been or may be an affiliate of an issuer (or any of its affiliated companies) of the Virtual Assets in which the User may be dealing.

The User agrees that this Clause contains only examples of conflict situations and is not meant to be an exhaustive list of all situations whereby conflict may arise. Subject to Applicable Laws, OKX HK and the Related Parties shall not be liable to account to the User for or to disclose to the User any profit, commission or remuneration made or received (whether from any customer or by reason of any material interest or otherwise) by OKX HK or the Related Parties.

23.7 Combination or consolidation of accounts: Notwithstanding anything contained in these Terms or in any other agreement between OKX HK or any of the Related Parties and the User or any User Group Company, subject to Applicable Laws, OKX HK shall be entitled and authorised to, for itself or as agent for any of the Related Parties, at any time or from time to time and without notice to the User or any User Group Company, notwithstanding any settlement of account or other matter whatsoever, combine or consolidate any or all of the Accounts and/or accounts of any User Group Company (of whatever nature and whether held individually or jointly with others) maintained with OKX HK or any Related Parties in such manner as OKX HK may at its sole and absolute discretion determine, and set-off, withhold from, apply or transfer any Fiat Currency or Virtual Assets, Virtual Assets, Fiat Currencies, or other property standing to the credit of or held by OKX HK or any Related Party in any one or more of such accounts at any time for any purpose, including safe-keeping, for full or partial discharge of the Indebtedness, obligations or liabilities of the User and/or any User Group Company towards OKX HK and/or any Related Party on any other accounts or commissions or expenses or otherwise whatsoever or howsoever in accordance with these Terms, whether such Indebtedness, obligations or liabilities be present or future, actual or contingent, primary or collateral, several or joint and secured or unsecured. Where such set-off, consolidation, combination or transfer requires the conversion of one Fiat Currency or one type of Virtual Asset into another, such conversion shall be calculated at the rate of exchange conclusively determined by OKX HK. For the avoidance of doubt, the above does not confer any equivalent right or any other counterclaim right of whatever nature on the User vis-a-vis OKX HK.

23.8 Charge, lien and security: Without prejudice to any other powers, authorities, rights and remedies granted to OKX HK under these Terms, OKX HK shall have a charge and/or lien on and security interest in and be entitled to retain and withhold all of the User's monies, interests in any Virtual Assets (including any and all Virtual Assets acquired for or on behalf of the User or in which the User has an interest which are held for or in the Account) or other property from time to time in the possession or control of OKX HK or any Related Party whether the same is held for safe custody, on-platform trading, off-platform trading or otherwise, and whether pursuant to these Terms or otherwise, and subject to Applicable Laws and Regulations, OKX HK shall have the right and is irrevocably authorised as the agent of the User to take such actions and at such times as OKX HK may at its sole and absolute discretion deem necessary to sell, dispose of or otherwise realise all such Fiat Currencies, Virtual Assets, or other property from time to time in possession or control of OKX HK or any Related Party in or towards satisfaction or discharge of any of the obligations and liabilities.

23.9 Airdrops: Where an event known as "airdrop" occurs, the promotors of a new Virtual Asset (that may or may not be supported for the Services) announce to holders of another Virtual Asset that they will be entitled to claim a certain amount of the new Virtual Asset for free, based on the fact that they hold such other Virtual Asset. Unless otherwise determined and announced by OKX HK in its sole discretion in relation to each specific airdrop event, the new Virtual Asset will not be supported by OKX HK for the Services. In addition, OKX HK may, in its sole discretion take any actions which we consider appropriate including but not limited to, determining and announcing:

(a) whether such an event would be recognised or supported by OKX HK;

(b) the terms and conditions, including the methodology of allocation of all the associated costs, fees or rewards to all affected Users, upon which OKX HK will implement support of such event as part of the Services; and

(c) the actions required to participate in such event, including the withdrawal deadline relating to the relevant Virtual Assets from your Account, suspension period for any trading, deposit and withdrawal or any payment terms.

23.10 Hard Forks: On each occasion that a Hard Fork occurs, OKX HK may, in its sole discretion take any actions which we consider appropriate including but not limited to, determining and announcing:

(a) whether such an event would be recognised or supported by OKX HK;

(c) the actions required to participate in such Hard Fork event, including the withdrawal deadline relating to the relevant Virtual Assets from your Account, suspension period for any trading, deposit and withdrawal or any payment terms.

23.11 Other Events in relation to Virtual Assets: Where events (other than an airdrop or Hard Fork) in respect of the blockchain or the smart contract that underlies a Virtual Asset, resulting from the actions of any parties including trading venues and other financial market infrastructures that facilitate the clearing, settlement and recording of translations relating to Virtual Assets or Fiat Currencies, occur, OKX HK may, in its sole discretion take any actions which we consider appropriate and to the fullest extent permissible under Applicable Laws and Regulations, OKX HK will not be liable for any loss or damage resulting from any actions taken or not taken.

23.12 Delegation and Service Providers: OKX HK may from time to time:

(a) delegate all or any of its functions, powers and discretion under these Terms to any person as agents, whether in Hong Kong or elsewhere. The User authorises OKX HK to engage such agents as OKX HK determines to perform all or part of its Services and to provide information and documents in connection with the User, the Account(s) and the Services (including instructions and transactions thereunder). To the fullest extent permissible pursuant to Applicable Laws and Regulations, OKX HK shall not be held liable for the acts, delays or omissions of such agents provided that OKX HK has exercised reasonable care in its selection and has not expressly authorised such acts, delays or omissions'

(b) engage the services of third party service providers or refer the services of third party service providers (“Service Provider”) to the User. The User acknowledges that the User's relationship with the Service Provider is separate and independent from any relationship the User may have with OKX HK and that the transactions to be conducted directly or indirectly by the Service Provider may be delayed or unwound by such Service Provider. In particular, to the fullest extent permissible pursuant to Applicable Laws and Regulations, OKX HK shall not be liable to the User for the solvency, acts or omissions of any Service Provider or any loss to the User resulting from the services provided by such Service Provider provided that OKX HK has exercised reasonable care in selecting the Service Provider and has not expressly authorised such acts or omissions. Subject to Applicable Laws and Regulations, the User acknowledges that OKX HK is entitled to retain any payment, remuneration, profit or benefit which arises in relation to or as a result of OKX HK referring a Service Provider to the User. If the User wishes to engage the services of any Service Provider, the User understands that the User may be required to enter into directly with the Service Provider such documentation as the Service Provider requires.

23.13 Electronic Contracts: You acknowledge and agree that you are satisfied that electronically executed contracts (such as these Terms) are enforceable despite the legal risks associated with them. You agree not to dispute the contents of any notice or communication sent by us using electronic means.

24 DEFINITIONS AND INTERPRETATION

Interpretation

24.1 In these Terms and unless otherwise specified, references to:

(a) “party” means either OKX HK or a User, and “parties” means both OKX HK and a User;

(b) “writing” includes any record capable of being published, whether or not in electronic form;

(d) “Clauses” and “Schedules” are to the clauses and schedules of these Terms respectively;

(e) “including”, “include” and “not limited to” or any similar expression in any phrase shall be construed as illustrative only and shall not limit the words preceding that term;

(f) a “day”, “week”, “month”, “year” are to be construed by reference to the Gregorian calendar;

(g) an act or course of conduct shall include positive acts and omissions;

(h) terms importing the singular include the plural and vice versa; and

(i) terms defined in the Applicable Laws and Regulations have the same meaning as in those Applicable Laws and Regulations.

24.2 Where a word or expression is given a particular meaning, other parts of speech and grammatical forms of that word or expression have a corresponding meaning.

24.3 The headings of Clauses and Schedules are provided for convenience only and shall not affect the interpretation of these Terms.

24.4 Unless otherwise defined in these Terms or unless the context requires otherwise, terms defined in the Applicable Laws and Regulations have the same meaning as in the Applicable Laws and Regulations.

24.5 Any translation of these Terms or other documents is provided for convenience only and may not accurately represent the information contained in the original English. In the event of inconsistency, the English language version of these Terms or other documents shall prevail.

Definitions

The words in the table shall have the following meanings attributed to them:

Account	Account opened and maintained with OKX HK for the User to use the Services and to trade on the OKX HK Platform, including any Virtual Asset sub-account that reflects a User’s Virtual Asset balance. In the context of these Terms, "Your Account" means your Account and/or any Account for which you have control or access to, or if you are a representative, attorney or for which you hold a similar authority or role.
AMLO	Anti-Money Laundering and Counter-Terrorist Financing Ordinance (Cap. 615 of the Laws of Hong Kong).
AML Program	Program to reasonably prevent money laundering and terrorist financing through a risk-based, multi-layer control system.
API	Application Programming Interface which is a connectivity function that allows a User to operate its Account on the OKX HK Platform.
Applicable Laws and Regulations	The laws, regulations and rules of any Competent Authority that apply to OKX HK, the OKX HK Platform and/or OKX HK Users, as enacted, replaced, amended, extended, consolidated, substituted and/or re-enacted from time to time in any relevant jurisdiction(s).
Applicant	Person who makes an application to open an Account with OKX HK to trade on the OKX HK Platform.
Associated Entity	OKX Hong Kong Custody Company Limited, a private company limited by shares incorporated in Hong Kong and wholly-owned by OKX HK which: (i) has notified the SFC that it has become an "associated entity" of OKX HK under section 165 of the SFO and/or section 53ZRW of the AMLO and (ii) holds a “trust or company service provider licence” (Licence No. TC008884) under the AMLO.
Authorized Financial Institution	Has the same meaning given in section 1 of Part 1 of Schedule 1 to the SFO.
Client Asset	Client Virtual Assets and Client Money.
Client Money	Any Fiat Currency: (a) received or held by or on behalf of OKX HK; or (b) received or held by or on behalf of the Associated Entity, which is so received or held on behalf of a User or in which a User has a legal or equitable interest, and includes any accretions thereto whether as capital or income
Client Virtual Asset	Any Virtual Asset: (a) received or held by or on behalf of OKX HK; or (b) received or held by or on behalf of the Associated Entity, which is so received or held on behalf of a User or in which a User has a legal or equitable interest, and includes any rights thereto.
Competent Authorities	Any governmental, regulatory, judicial, law enforcement or public authority, whether in Hong Kong or any other relevant jurisdictions, which have jurisdiction over the activities of OKX HK, the OKX HK Platform or any Users, including but not limited to the SFC.
Customer Service	Team that provides timely responses and resolutions for our customers and prospective customers concerning questions, feedback, or complaints.
Darknet	Hidden service markets or any other service or website that acts as a marketplace for illegal goods.
Eligible Virtual Assets	Virtual Assets that: (a) have not been associated with a wallet address that is or has been blacklisted or otherwise identified by a Competent Authority as being related to any Financial Crime; (b) is not otherwise associated with any Prohibited Businesses; (c) has no restrictions on its transfer, withdrawal or deposit; or (d) is otherwise deemed by OKX HK to be an Eligible Virtual Asset, in each case above, as determined by OKX HK in its sole and absolute discretion having regard to Applicable Laws and Regulations and all other relevant considerations.
Enhanced Due Diligence	Program whereby Users who have been designated as high risk undergo enhanced scrutiny and diligence.
Event of Default	Any of the following events: (a) you stop or suspend payment of any of your debts, loans, line of credit, facility or any equivalence, or is unable to, or admits your inability to, pay your debts, loans, line of credit, facility or any equivalence as they fall due; (b) you commence negotiations, or enter into any composition, compromise, assignment or arrangement, with one or more of your creditors with a view to rescheduling any of your indebtedness (because of actual or anticipated financial difficulties); (c) a moratorium is declared in respect of any of your indebtedness; (d) any action, proceedings, procedure or step is taken in relation to: (i) your indebtedness, insolvency, bankruptcy, judicial management, winding up, dissolution, administration or reorganisation (using a voluntary arrangement, scheme of arrangement or otherwise), as may be applicable (each, an "Insolvency Event"); (ii) the suspension of payments or a moratorium in preparation, anticipation or respect of any Insolvency Event; (iii) a composition, compromise, assignment or arrangement with any of your creditors; (iv) the appointment of a liquidator, receiver, administrative receiver, trustee, judicial manager, administrator, compulsory manager or other similar officer over you or any of your assets (or if applicable, business); or (v) the protection of your creditors' rights. (e) the value of your assets is less than the value of your liabilities (taking into account contingent and prospective liabilities); (f) you breached any provision in these Terms; (g) if you are not a natural person, you cease or threaten to cease your business (h) you become unable to legally perform or comply with any obligation under these Terms; (i) a distress, attachment, execution, expropriation, sequestration or other analogous legal process is levied, enforced or sued out on, or against, your assets and is not discharged or stayed within 21 days; (j) any security in respect of indebtedness on or over your assets ("Security") becomes enforceable; (k) any security: (i) ceases to be in full force and effect; or (ii) is alleged by the relevant secured creditor to be ineffective; (l) you repudiate, rescind or show an intention to repudiate or rescind any financing agreement which you are a borrowing party to; and/or (m) any event occurring in relation to you that is analogous to those set out in the foregoing provisions under this definition in any jurisdiction.
Fiat Currency	Government-issued currency that is designated as legal tender in its country of issuance through government decree, regulation or law.
Fill	Complete or partial matching of two Orders on the OKX HK Platform which results in a Trade and Filling or Filled shall be construed accordingly.
Financial Crime	Money laundering, terrorist financing, evasion of economic sanctions, tax evasion, bribery and corruption, including but not limited to the crimes of money laundering and terrorist financing, and behaviour which may amount to "Market Abuse", as defined under Applicable the Laws and Regulations as may be applicable to OKX HK as the case may be and as amended from time to time.
Force Majeure Event	Event beyond the reasonable control of OKX HK or a User which prevents or substantially hinders OKX HK or the User from complying with any of their obligations, including but not limited to: (a) acts of God, fire, storm, tempest, explosion, flood, earthquake, subsidence or any other natural physical disasters; (b) acts of war, terrorism, riots, civil commotion, military action, insurrections, rebellions or revolutions and any other similar acts; (c) pandemics or epidemics; (d) failures or interruptions in power, communication channels, hardware, software, Internet connections and information systems; (e) acts of state or government, political interference, sanctions and embargos (f) any other similar acts or events, disruptions, errors, distortions or delays, provided such events are not the result of a party's fraud, gross negligence or wilful default.
Group of Companies	Has the meaning given in section 1 of Part 1 of Schedule 1 to the SFO and/or section 53ZRJ of the AMLO.
Hard Fork	Occurs when a blockchain protocol is radically changed such that it becomes incompatible with older versions. Parties taking part in transactions on the old blockchain must upgrade to the new one in order to continue validating transactions. However, the parties that do not upgrade may continue to support and validate transactions on the older blockchain protocol separately. A Hard Fork can be planned, or unplanned (contentious).
Indirect Losses	Any loss related in any way to special, indirect, incidental, exemplary, punitive, multiple or consequential Loss including Loss of business or opportunity, customers or contracts, Loss of overheads, management or staff time, Loss of anticipated profits or revenue or other financial benefit, Loss of use of hardware or software, Loss of data or information or corruption of data (including Loss arising out of or relating to any inaccuracy, defect or omission of digital currency price data; any error or delay in the transmission of such data; and / or any interruption in any such data), or Loss from business disruption, Loss of reputation or goodwill, regardless of whether: (a) a Party has been advised of the possibility or likelihood of recovery of such Loss; or (b) arising under contract, tort, strict liability or any other theory of law.
Institutional Professional Investor	Persons falling under paragraphs (a) to (i) of the definition of "professional investor" in section 1 of Part 1 of Schedule 1 to the SFO.
Losses	Any claim, demand, action, proceeding, liability, expense (including legal and professional expenses), cost, charge, injury, damages, fine, penalty or diminution of value.
Natural Person	Any individual and their estate and personal representatives.
Notice	A binding communication issued by OKX HK to the Users, informing the Users of specific matters of relevance with respect to the proper functioning of the OKX HK Platform and the User’s use of the Services, including but not limited to changes to the policies, fees or any other relevant matter, as may be required from time to time.
Notice of Arbitration	Document that signifies a party’s intent to submit a dispute to one or more arbitrators who make a binding decision on the dispute.
OKX HK Platform	The online platform accessed either at the OKX HK Website, or via the API or the mobile application that is operated by OKX HK.
OKX HK Website	www.okx.com
Order	An instruction in relation to a Virtual Asset transaction.
Prohibited Business	Prohibited businesses are set out in Clause 3.
Qualified Corporate Professional Investor	A trust corporation, corporation or partnership falling under sections 4, 6 and 7 of the Securities and Futures (Professional Investor) Rules (Cap 517D of the Laws of Hong Kong) which has passed the assessment requirements under paragraph 1 of Schedule 1 to the Guidelines for Virtual Asset Trading Platform Operators ("Guidelines") and gone through the procedures under paragraph 2 of the Guidelines.
Related Party	A company that is within the same Group of Companies with OKX HK.
Relevant Activities	(a) providing services through means of electronic facilities: (i) whereby: (A) offers to sell or purchase Virtual Assets are regularly made or accepted in a way that forms or results in a binding transaction; or (B) persons are regularly introduced, or identified to other persons in order that they may negotiate or conclude, or with the reasonable expectation that they will negotiate or conclude sales or purchases of Virtual Assets in a way that forms or results in a binding transaction; and (ii) where Client Money or Client Virtual Assets comes into direct or indirect possession of the person providing such service; and (b) any off-platform Virtual Asset trading activities and incidental services provided by OKX HK to its clients, and any activities conducted in relation to off-platform Virtual Asset trading activities.
Restricted Locations	Locations in which OKX HK offers no or only limited services, as indicated in Clause 2.2 and may be updated from time to time according to OKX HK.
Risk Statement	Statement made by OKX HK to the Users in relation to the risks that Users may be exposed to in trading virtual assets and using the Services as set out in the Appendix.
Services	Services provided by OKX HK to its Users under these Terms which are more particularly described in Clause 4.
SFC	Securities and Futures Commission of Hong Kong.
SFO	Securities and Futures Ordinance (Cap. 571 of the Laws of Hong Kong).
Standing Authority	The standing authority granted by you to us as may be amended from time to time in respect of the Client Virtual Assets and Client Money held or received by us or the Associated Entity in accordance with these Terms.
Stop Order	Refers to the stop loss function as described in paragraph 67 of the Appendix.
Terms	These Terms of Service and all schedules, product details, any ancillary documents referred to herein and any amendments thereto. For the avoidance of doubt, these Terms supersedes and replaces any previous customer agreement in force between you and us.
Trade	Transaction on the OKX HK Platform which results from the Fill of two Orders.
User	A Natural Person or legal entity (e.g. corporate or institutional customers) who uses the OKX HK Platform and to whom OKX HK provides its Services pursuant to these Terms, and who has agreed to these Terms. For the avoidance of doubt, Users may include Related Parties who engage in trading activity as described in these Terms.
User Group	In relation to a User, means the User, (where the User is an individual or firm) any company which is controlled by the User, and (where the User is a company or body corporate) any company which is the holding company or a subsidiary, or a subsidiary of the holding company of the User and "User Group Company" and “ User Group Member” shall be construed accordingly.
Virtual Assets	(a) any "virtual asset" as defined in section 53ZRA of the AMLO; or (b) any cryptographically secured digital representation of value which constitutes “securities” as defined in section 1 of Part 1 of Schedule 1 to the SFO.
Virtual Asset Service	Has the same meaning given in section 1 of Part 1 of Schedule 3B to the SFO.

APPENDIX - RISK STATEMENT

Introduction

1. This Appendix provides Users with information about the risks associated with trading in Virtual Assets and any other Services provided by OKX HK. Applicants and Users should read this Risk Statement carefully before applying to open an Account and executing Trades. This Risk Statement should be read in conjunction with the Risk and Compliance Disclosure.

2. This Appendix is not intended to disclose or discuss in detail all of the risks associated with trading or holding Virtual Assets or the use of the Services provided by OKX HK. This Risk Statement is not exhaustive and only outlines the general nature of the risks involved. Users should ensure that their decisions are made on a well-informed basis, and they should undertake their own assessment as to the suitability of trading in Virtual Assets in the light of their experience, objectives, financial resources and their specific needs and requirements.

3. By opening an Account and undertaking Trades, a User is deemed to have reviewed, understood and accepted the risks associated with the Services provided by OKX HK.

4. The market for Virtual Assets is very new and rapidly developing and the risks of trading such assets are not fully understood. As such, OKX HK may update this Risk Statement periodically, as notified to Users from time to time, to list additional risks in transacting in Virtual Assets, but accepts no liability whatsoever in the event that any risk is not addressed in the risk statement.

5. Users acknowledge and agree that it is the User’s responsibility to stay up to date with the updated Risk Statement published by OKX HK from time to time.

Overview of risks

6. This Risk Statement addresses the following risks associated with transacting in Virtual Assets in respect of the following matters:

(a) the nature of Virtual Assets;

(b) value of Virtual Assets and the risk of loss;

(d) availability of Virtual Assets;

(e) currency and conversion risks;

(f) custody risk;

(g) risks of trading Virtual Assets;

(h) risk of Financial Crime and cybercrime;

(i) technology risk;

(j) legal and market risks;

(k) regulatory risk;

(l) stop loss;

(m) off-platform transactions; and

(n) other potential risks.

Nature of Virtual Assets

7. Virtual Assets are not legal tender and are not backed by any government or authority and may not be backed by any physical assets. In addition, Virtual Assets may or may not be considered “property” under the law, and such legal uncertainty may affect the nature and enforceability of the User's interest in such Virtual Asset;

8. There is no assurance that a Person who accepts Virtual Assets as a form of payment or a store of value will continue to do so in the future.

9. Virtual Assets are generally considered a high-risk asset class. You must therefore exercise prudent judgment when trading Virtual Assets (as well as any other assets). You must not rely solely on information provided by the issuer of the Virtual Asset when assessing the relevant risks, as the offering documents or product information provided by the issuer have not been subject to scrutiny by any regulatory body.

10. The nature of Virtual Assets may be very complex, and their terms, features, and/or risks may not be readily or fully understood due to the complex structure, novelty and reliance on technological features. The nature of Virtual Assets exposes them to an increased risk of fraud or cyberattack.

Value of Virtual Assets and the risk of loss

11. Investing in Virtual Assets carries a high level of risk and, as such, may not be suitable for all investors and investors should exercise caution in relation to Virtual Assets and the related products and services. A User should not transact in Virtual Assets if they are seeking a regular or low risk return on their invested capital. Unlike traditional investment products, Virtual Assets do not generally have any underlying or intrinsic asset value or any assets supporting their price.

12. Trading in Virtual Assets is highly speculative and involves significant risk. There is limited or no fundamental reasoning behind the pricing of Virtual Assets which may be subject to irrational and uncontrollable market forces. Whether the future price for a Virtual Asset will increase or decrease is unpredictable and purely speculative. Likewise, there is a risk that a Virtual Asset may not have any value whatsoever. Virtual Assets are therefore traded at the User's own risk.

13. Prices of Virtual Asset are highly volatile and unpredictable and can fluctuate substantially in comparison to Fiat Currencies or traditional investment products. As a result, market conditions can change significantly in a very short period of time. Furthermore, the value of a Virtual Asset may never recover if there is no interest or development in the Virtual Asset. Users are therefore at risk of losing all or a substantial portion of their investment. Such losses can occur in a very short period of time.

14. The use of instructions in relation to Orders may not necessarily limit losses to the expressed amount and market conditions may make it impossible to Fill an Order or to obtain the limit price.

15. A User understands that they should be able to bear the risk of potential losses up to and even beyond the full amount of their invested capital and Users should only invest capital that they can afford to lose without impacting their standard of living and proportionate to his or her income. A User should cease trading in Virtual Assets if their personal situation no longer permits.

16. Trading in Virtual Assets is not appropriate for Persons with:

(a) limited resources;

(b) limited investment experience; and/or

17. A User should ensure that they have an understanding of the economic and other types of risks involved in trading Virtual Assets. A User should seek professional advice where appropriate.

18. Before opening an Account, a User is deemed to have evaluated and confirmed that they understand the risks involved.

Past performance

19. The value of any Virtual Asset may decrease as well as increase. Trading in Virtual Assets may be susceptible to irrational market forces. Any data on the past performance of a Virtual Asset does not guarantee, and may not be a reliable indicator of, future performance.

Availability of Virtual Assets

20. The ability for a User to purchase Virtual Assets using the OKX HK Platform may be dependent on the existence of a counterparty willing to sell the same Virtual Asset (and vice versa). This is outside of OKX HK’s control. OKX HK makes no guarantee as to the timing or availability of the ability to purchase or sell Virtual Assets via the OKX HK Platform.

21. Each User should be fully aware of the specific characteristics and risks relating to the particular Virtual Asset that the User is planning to trade.

22. The value of Virtual Assets may be derived from the continued willingness of Users and participants in other markets, trading venues and exchanges to trade Fiat Currency or Virtual Assets for Virtual Assets, which means that the value of a particular Virtual Asset may be completely and permanently lost should the market for that Digital Assert disappear. There is no assurance that a person who accepts a Virtual Asset as payment or a store of value today will continue to do so in the future. Thinly traded or illiquid markets have an increased potential risk of loss as a result of the enhanced volatility and a User may not be able to establish or liquidate positions in a Virtual Asset when desired, at favourable prices or at all.

23. A Virtual Asset may change or otherwise cease to operate as expected due to changes made to or using its underlying technology, including by way of cyber-attack. Such changes may dilute the value of a User's Virtual Asset position and/or distribute the value of a User's Virtual Asset position to another Virtual Asset.

24. A "fork" refers to an upgrade in the code of a blockchain network, which may, for example, occur as a result of disagreements between stakeholders as to an update to a Virtual Asset's protocol or from a deliberate effort to revert the blockchain history to a point prior to a cyber-attack. A Hard Fork may result in a permanent split from a previous version of the blockchain and will effectively create a new Virtual Asset. The occurrence of a fork is outside of OKX HK’s control. The supply of Virtual Assets as a result of a fork or similar changes to a Virtual Asset's protocols and OKX HK’s ability to provide Services for the new Virtual Asset which arises as a result may depend on third party providers which are outside of OKX HK’s control. OKX HK does not own or control any of the protocols that are used in connection with Virtual Assets and their related networks. Accordingly, OKX HK is not liable in respect of such protocols or any change in the value of any Virtual Asset (whether as a result of a fork or any similar change to a Virtual Asset's Protocol or otherwise), and OKX HK makes no guarantees regarding the security, functionality, or availability of such protocols.

25. A User is deemed to accept all risks associated with the use of the Services, including, but not limited to, the failure of hardware, software, and internet connections.

26. There is a risk that you may experience losses due to the inability to sell or convert Virtual Assets into a preferred alternative asset immediately or where conversion is possible but at a loss. Such liquidity risk for a Virtual Asset may be caused by many reasons, including but not limited to the absence of buyers, limited buy/sell activity, or underdeveloped secondary markets.

Currency & conversion risks

27. Trades may be executed in a currency different to the currency that the User deposited in its Account. The User should be aware of the risk of currency fluctuation and any risks related to it. A movement in an exchange rate may have a positive or adverse effect on the gain or loss achieved from any Trade.

28. If you convert Virtual Assets following the execution of an order or where an order is denominated in a particular Virtual Asset other than your primary reference asset, there is a risk that, if the markets move against your position, then upon maturity or any earlier, the net proceeds may be significantly less than the initial amount in your primary reference asset, and any income or gains may be entirely negated.

Custody risk

29. OKX HK will hold Fiat Currencies and Virtual Assets for and on behalf of the Users through the Associated Entity. However, the Virtual Assets OKX HK holds are not “deposits” nor are they intended to be held as any other regulated product or service under Applicable Laws.

30. In the event of the insolvency or any other analogous proceedings of the Associated Entity or a third party (e.g. a bank) holding a User’s Fiat Currencies and/or Virtual Assets, OKX HK may only have an unsecured claim against the third party on the behalf of a User and a User may be exposed to the risk that the Fiat Currencies, Virtual Assets or any other property received by OKX HK from the third party is insufficient to satisfy the User’s claim and the claims of all other relevant Users.

31. Fiat Currencies and/or Virtual Assets may be pooled with those belonging to other Users. In such circumstances, a User’s individual client entitlements may not be separately identifiable by separate certificates, other physical documents of title or equivalent electronic records and, in the event of an irreconcilable shortfall after OKX HK’s insolvency, any Users whose assets have been pooled may share in that shortfall in proportion to their original assets in the pool. Any entitlements or other benefits arising in respect of pooled assets will be allocated pro rata to each User whose assets are so pooled.

32. Fiat Currencies and/or Virtual Assets may be held by a third party appointed in good faith by OKX HK, or by OKX HK’s nominees or sub-custodians. Such third parties are not under the control of OKX HK, and OKX HK accepts no liability for any default of any nature by such third parties and, in the event of any such default, a User may suffer total or partial loss in respect of the User’s Account. The extent to which a User may recover its Fiat Currencies and/or Virtual Assets in jurisdictions may be governed by specific legislation or local rules.

Risks of Trading Virtual Assets

33. OKX HK acts as a platform for the trade execution of Orders. As detailed in these Terms, OKX HK and its Related Parties may engage in certain trading activities.

34. In comparison to other types of assets, including Fiat Currencies and securities, any Virtual Asset transactions may not be subject to a right of claim under any investor compensation fund established by any government or regulatory authority; furthermore, Virtual Assets held in an Account on OKX HK may not be protected deposits, and may not be protected by any deposit protection scheme in any relevant jurisdiction. In particular, the protection offered by the Investor Compensation Fund administered by The Investor Compensation Company Limited (a wholly-owned subsidiary of the SFC) does not apply to transactions involving Virtual Assets (irrespective of the nature of the tokens). Thus, Virtual Assets may have a reduced level and type of protection compared to Fiat Currencies, securities, and other asset classes and types.

35. During the course of using our Services, you may be subject to various fees. Prior to making any transactions, you must obtain details and a full understanding of all commissions, fees, and costs for which you may be liable. If any of these fees are not clear to you, you must request clarification of what fees will be applicable in specific monetary terms before using the Services or entering into any transactions.

36. Providing any other person access to your Account(s) involves risk. You must take all necessary steps to ensure that any person you provide access to are appropriate and legal. You must also adopt controls and protocols relating to your Account as you see fit in order to monitor the activities of such persons in order to ensure that they remain appropriate and legal in their capacity.

37. Please note that Virtual Assets received or held by OKX HK may be subject to other Applicable Laws of international jurisdictions beyond your country of residence and/or citizenship.

38. There are substantial risks when allowing another person to trade or operate your Account you have with us, and it is possible that any instructions you provide are not properly authorized or executed. You accept all risks of such operation and fully and irrevocably release OKX HK from any and all liability arising out of or in connection with all the aforementioned.

39. Virtual Asset transactions are irreversible. Thus, losses due to accidental or fraudulent transactions with respect to Virtual Assets may not be recoverable. You must therefore exercise caution when making any Virtual Asset transfers and are solely liable for any losses that may arise.

40. Virtual Asset transactions may be deemed to be executed only when recorded and confirmed by OKX HK's platform, which may not necessarily be the time at which the User initiates the transaction. An order made on OKX HK’s platform is binding upon completion of the steps described in these Terms. An order will not be reserved unless otherwise provided in these Terms. There is a risk that the final binding order does not occur simultaneously along with your instructions. Thus, you may suffer losses due to the fact that an order is not carried out at the desired time. In particular, contingent orders such as options or perpetual swaps may not limit your losses to the intended amounts due to the volatility of market conditions.

41. There is a genuine risk that unauthorized third parties may access your Account(s) and make transactions without your knowledge or authorization, whether by obtaining control over a device or Account you use or by other methods.

42. OKX HK is not obliged to provide any adaptations, enhancements, and/or modifications to the materials and information provided on the OKX HK Platform. This means, for example, that you may have an out-of-date version of the OKX HK app, and new features may not be incorporated to the version of the app you use. It is your responsibility to ensure you update and download applicable updates and versions.

Risk of Financial Crime and cyber crime

43. The nature of Virtual Assets means that they may be exposed to an increased risk of Financial Crime or cyber-attack, which includes but is not limited to malware, hacking, phishing, double spending, smurfing, spoofing, sybil attacks, social engineering, majority-mining, consensus-based, or other mining attacks, misinformation campaigns, distributed denial of services, and forks. The transfer of Virtual Assets into a digital wallet exposes the Virtual Asset to the risk of loss from, amongst other things, security breaches from cyber-attacks that hack and steal Virtual Assets.

44. There is limited, or in some cases no, mechanism for the recovery of lost or stolen Virtual Assets.

45. You may store your Virtual Assets in hot wallets, but these hot wallets may be at risk of hacking, cyber-attacks, or any of the risks mentioned in paragraph 48 above. Disruptions ,theft, cyber attacks and hacks of Virtual Asset trading platforms and theft of Virtual Assets unfortunately are very common. Victims may face extreme difficulty recovering losses from hackers, trading platforms, or other related industry organization and/or individuals. This could result in significant losses and other adverse impacts that may materially affect your interests.

Technology risk

46. Understanding Virtual Assets requires advanced technical knowledge. Virtual Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. The listing of a Virtual Asset on the OKX HK Platform does not indicate approval or disapproval by OKX HK of the underlying technology regarding that Virtual Asset and should not be used as a substitute for each User's understanding of the risks associated to that Virtual Asset.

47. The software protocols that underlie Virtual Assets are typically open source projects, which means that:

(a) the development and control of such Virtual Assets is outside of OKX HK’s control; and

(b) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a specific Virtual Asset.

48. The nature of Virtual Assets means that technological difficulties experienced by OKX HK may prevent a User's access to, or use of, its Virtual Assets. OKX HK may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services, or may result in Virtual Assets being lost and/or stolen. A User should understand that the Services may experience operational issues that lead to delays. By using the Services, a User agrees to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks.`

49. Virtual Assets are dependent upon new technologies, including distributed ledger technologies for the purposes of, amongst other things, anonymity, irreversibility of transactions, accidental transactions, transaction recording and settlement.

50. Virtual Asset transactions cannot be reversed. Once a User sends a Virtual Asset to a wallet address outside of the OKX HK Platform, there is a risk that the User may lose access to the Virtual Asset indefinitely. For example, a wallet address may have been entered incorrectly and the true owner of the wallet address may never be discovered, or a wallet address may belong to an entity that will not return the User's Virtual Assets or which will only do so following action on the part of the User, such as verification of their identity.

51. A User may lose the User’s private key for external wallet addresses in certain circumstances, including but not limited to the following:

(a) if the private key has been backed up on paper and subsequently lost or stolen; or

(b) if the private key has been hacked or stolen.

52. The person in possession of a private key for an external wallet address will own the Virtual Assets.

53. The use of the OKX HK Platform on a jailbroken device may compromise security and lead to fraudulent transactions. You may suffer losses as well as a termination of the Services.

54. Virtual Assets and the OKX HK Platform depend on the internet and other technology (including various communication methods and mediums). However, the public nature of the internet means that parts or the entire internet may be unreliable or unavailable at any given time. Furthermore, interruption, delay, corruption or loss of data, the loss of confidentiality or privacy through the course of data transmission, or malware transmission may occur when transmitting data via the internet and/or other technology. The above may result in your transactions not being executed according to your instruction at the requested time, or not executed at all.

55. There is no technology that is completely secure or safe. You should therefore exercise caution when using any technology.

56. The internet as well as other electronic media (including but not limited to electronic devices, services by third-party telecom service providers such as mobile phones or other handheld trading devices or interactive voice response systems) are an inherently unreliable form of communication, and such unreliability may be beyond OKX HK’s control.

57. Any information (including any document or data) transmitted, or communication or transactions made, over the internet or through other electronic media (including but not limited to electronic devices, services by third-party telecom service providers such as mobile phones or other handheld trading devices or interactive voice response systems) may be subject to interruption, transmission blackout, delayed transmission due to data volume, internet traffic, market volatility or incorrect data transmission (including incorrect price quotation), or pause and/or delay of price data feed due to the public nature of the internet or other electronic media.

Legal & market risks

58. A User is responsible for complying with the Applicable Laws and Regulations and is solely responsible for determining which laws may apply to its transactions, including any applicable tax laws. A User is solely responsible for reporting and paying any taxes arising from its use of the Services.

59. Due to the relatively recent development of Virtual Assets, banks and other Competent Authorities have different views as to the risks associated with funds generated from the buying and selling of Virtual Assets or may have a very low tolerance for risk. Accordingly, a User's bank may freeze its account or reject any incoming funds if the User’s bank concludes that such funds are the result of buying or selling Virtual Assets.

60. OKX HK may suspend a User's access to its Account. In such circumstances, the User will not be able to make deposits or withdrawals or trade. OKX HK may also suspend a User's ability to transact on the OKX HK Platform, in which case it will not be able to undertake the sale or purchase of a Virtual Asset on-platform but it will be permitted to, for example, make deposits or withdrawals from its Account.

61. You may suffer losses as a result of value depreciation of a Virtual Asset you paid as a result of controls imposed by a Competent Authority. Repayment or payment of any amounts due to you may be delayed or even prevented by controls or other actions imposed by government or regulatory authorities over Virtual Assets and/or their ecosystem that these Competent Authorities control or regulate.

62. Virtual Assets may, either because of their inherent design or through network events, not be a fixed supply. If and when additional Virtual Assets are created, the particular Virtual Asset’s price may decline due to inflationary effects of adding additional Virtual Assets to the total available amount of assets in the market.

63. At any point in time, one or more persons may directly or indirectly control significant portions of the total supply of any particular Virtual Asset. These persons are often referred to colloquially as “whales”. Whether acting individually or collectively, these whales may have significant impact, and may be able to influence or cause significant market events that may have a detrimental effect on price, value or functionality of Virtual Assets. Furthermore, these whales or other network participants and Users may make decisions that are not in your best interest as an investor of Virtual Assets.

Regulatory risk

64. Virtual Assets activities conducted in certain jurisdictions may be unregulated or subject to limited regulation.

65. Any legislative or regulatory changes or actions by the Competent Authorities or any authorities that are not connected to OKX HK may adversely affect the use, transfer, exchange and value of Virtual Assets.

66. The domestic government of a User may make it illegal for the User to trade Virtual Assets.

Stop Loss

67. A Stop Order is an offer to deal if our quote becomes less favourable to you. A Stop Order is generally placed to provide some risk protection, for example in the event of your Trade moving into loss, and can be used to either open or close a Trade. Each Stop Order has a specific stop level, set by you. Your Stop Order will be triggered if our bid price (in the case of an order to sell) or our offer price (in the case of an order to buy) moves against you to a point that is at or beyond the level specified by you. Notwithstanding the specific stop level set by you, we may be required by Applicable Laws and Regulations to close or part close a Trade prior to your Stop Order being triggered.

68. You agree and understand that Stop Orders will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such Orders at a price close to your intended stop price or at all. In extremely volatile markets, the price of a Virtual Asset may fall rapidly through your Stop Order price and you may suffer losses well in excess of the amount realised had your Stop Order been executed at the Stop Order price.

Off-platform Transactions

69. Off-platform transactions in Virtual Assets may involve greater risk than trading on-platform. It may be more difficult for the User to assess the liquidity of the off-platform market, and therefore its exposure to risk. It may also be difficult for Users to establish the fair price of the relevant Virtual Asset based on the quoted bid price and/or ask price. Users should familiarise itself with the applicable rules and attendant risks before engaging in off-platform transactions in Virtual Assets.

Other Potential Risks

70. OKX HK Website and internet pages, investor relations releases, oral or written outlooks, presentations, audio and video recordings of events, and other publications from websites may contain optimistic, forward-looking statements that reflect OKX HK and its management’s current views with respect to prospective projects and events. Certain words, including but not limited to, “anticipate,” “assume”, “believe”, “estimate”, “expect”, “intend”, “may”, “plan”, “project”, and “should”, as well as other expressions that often identify forward looking statements. These statements are subject to risks, uncertainties, and changes due to many factors, including but not limited to: changes in Virtual Asset and Fiat Currency exchange rates, interest rates, and commodity prices; the introduction of new and/or competing technology and ideas; increased market incentives; and a decline in demand for current Services or other products.