Phemex Terms of Use

These Terms of Use (“Terms”) constitute a contract between you and Phemex (as defined below) that applies to your use of Phemex Exchange (“Phemex”) as a user (“User”, “you” or “your”) to buy or sell Digital Assets (as defined below), hold Digital Assets, engage in contract trading (where permissible), use the Phemex Application Programming Interface (“API”), or use any other services offered through the Site (as defined below) or via the official Phemex mobile application (the “App”) (together, the “Services”). The Phemex Group is responsible for providing general services including but no limited to user onboarding. By registering for a Phemex account (“Account”) or using any of the Services, you agree that you have read, understood and accept all of the terms and conditions contained in these Terms, including in Section 21. “Arbitration; Waiver of Class Action”, as well as our Privacy Policy and other policies to be updated from time to time, and you acknowledge and agree that you will be bound by these Terms and policies

When these Terms mention “Phemex,” “we,” “us,” or “our,” it refers to the relevant Phemex group entity which is providing the Services directly and specifically. Your “Country of Residence” is the jurisdiction associated with your Account as determined by your official identification document and verified residential address.

IF YOU ARE ACCESSING AND USING THE SERVICES ON BEHALF OF A COMPANY (SUCH AS YOUR EMPLOYER) OR OTHER LEGAL ENTITY, YOU REPRESENT AND WARRANT THAT YOU HAVE THE AUTHORITY TO BIND THAT COMPANY OR OTHER LEGAL ENTITY TO THESE TERMS. IN THAT CASE, “YOU” AND “YOUR” WILL REFER TO THAT COMPANY OR OTHER LEGAL ENTITY.

Some Services on Phemex (“Third-Party Services”) may be provided by relevant third-party service providers; and unless otherwise provided herein, all Services relating to fiat currency/Digital Assets exchange are provided by relevant third-party service providers. By using any of the Third-Party Services, you agree that you have read, understood and accepted all of the terms and conditions provided by those service providers.

THE THIRD-PARTY SERVICES ARE PROVIDED BY THIRD-PARTY SERVICE PROVIDERS. ALL TOKENIZATIONS OF FIAT CURRENCY OR REDEMPTIONS OF DIGITAL ASSETS MUST BE MADE DIRECTLY BETWEEN YOU AND THOSE SERVICE PROVIDERS AND ARE SUBJECT TO THE TERMS AND CONDITIONS AND APPLICABLE DILIGENCE REQUIREMENTS OF THOSE SERVICE PROVIDERS. PHEMEX IS NOT RESPONSIBLE OR LIABLE FOR ANY LOSSES, FEES, OR DAMAGES INCURRED IN CONNECTION WITH ANY SUCH ACTIVITIES. IF YOU HAVE A DISPUTE WITH ANY SUCH SERVICE PROVIDER AND/OR YOUR FINANCIAL INSTITUTION, YOU HEREBY RELEASE PHEMEX, ITS AFFILIATES AND OHTHER SERVICE PROVIDERS, AND EACH OF OUR OR THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, SERVICE PROVIDERS, EMPLOYEES AND REPRESENTATIVES FROM ANY AND ALL CLAIMS, DEMANDS AND DAMAGES (ACTUAL AND CONSEQUENTIAL) OF EVERY KIND AND NATURE ARISING OUT OF OR IN ANY WAY CONNECTION WITH SUCH DISPUTES.

Our Services are not offered to persons who are citizens of, incorporated in, have their registered office in or resides in any Restricted Territory as defined in Section 36. To the extent such persons use the Services irrespective of the foregoing, they will be deemed to be subject to these Terms.

Note that these Terms use the term “Digital Assets” to refer to bitcoin (BTC), Ethereum (ETH) or any other digital assets, cryptocurrencies, virtual currencies or tokens that are available for purchase and exchange through Phemex.

Section 29 of these Terms governs how these Terms may be changed over time. If after reading these Terms in their entirety you are still unsure of anything or you have any questions, please feel free to contact us at support@phemex.zendesk.com or Online Chat (under tab “Chat with Us”).

1. APPLICABLE LAWS AND REGULATIONS

Your conduct on the Phemex platform is subject to the laws, regulations, and rules of any applicable governmental or regulatory authority, including, without limitation, all applicable tax, anti-money laundering (“AML”) and counter-terrorist financing (“CTF”) provisions.

If your country of residence is based within the European Economic Area (“EEA”) and the General Data Protection Regulation (EU) 2016/679 (“GDPR”) applies to our processing of your personal data (within the meaning of GDPR), your representative within the EEA for the purposes of the General Data Protection Regulation (EU) 2016/679 (“GDPR”) is Phemex Limited. If your Country of Residence is outside of the EEA, provisions related to the GDPR shall not apply to your use of the Services, unless otherwise we or our service providers may transfer your personal information to or process the foregoing personal data within the EU.

You unequivocally agree and understand that by opening an Account and using the Services in any capacity, you shall act in compliance with and be legally bound by these Terms and all applicable laws and regulations (including without limitation those stated in this Section 1, where applicable), and failure to do so may result in the suspension of your ability to use the Services or the closure of your Account. For the avoidance of doubt, continued use of your Account, is conditioned on your continued compliance at all times with these Terms and all applicable laws and regulations.

2. ELIGIBILITY

For an individual User, you must be at least 18 years old; and for each individual/institutional User, you have not previously been suspended or removed from Phemex to enter into these Terms. By accessing or using Phemex, you further represent and warrant that you are not a Restricted Person nor are you a citizen or resident of a Restricted Territory (as defined in Section 36 below).

ANY CITIZEN OR RESIDENT OF A RESTRICTED TERRITORY IS STRICTLY PROHIBITED FROM ACCESSING OR USING PHEMEX.

You represent and warrant that you will not be using Phemex for any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices, including without limitation those listed under Section 21.

Notwithstanding the foregoing, Phemex may determine not to provide the Services, in whole or in part, available in every market, either in its sole discretion or due to legal or regulatory requirements, depending on the User’s location.

3. REGISTRATION PROCESS; IDENTITY VERIFICATION

When registering your Account, you must provide current, complete, and accurate information for all required elements on the registration page, including your full legal name. You are the only person authorized to use your Account and you may not share your Account credentials with any other person. You also agree to provide us, when registering an Account and on an ongoing basis, with any additional information we request for the purposes of identity verification and the detection of money laundering, terrorist financing, fraud, or any other financial crime. You permit us to keep a record of such information and authorize us to make the inquiries, whether directly or through third parties, that we consider necessary to verify your identity or protect you and/or us against fraud or other financial crime, and to take action we reasonably deem necessary based on the results of such inquiries. When we carry out these inquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud prevention or financial crime agencies and that these agencies may respond to our inquiries in full.

In certain circumstances, we may require you to submit additional information about yourself or your business, provide records, and complete other verification steps. Depending on specific Services you use and pursuant to applicable laws, regulations and internal policies of Phemex, the additional information we request may include (but is not limited to) personal information such as your name, biometric template (such as face and fingerprints scan), residential address, telephone number, email address, date of birth, taxpayer identification number, government identification number, information regarding your bank account (such as the name of the bank, the account type, routing number, and account number) network status, customer type, customer role, billing type, mobile device identifiers (e.g. international mobile subscriber identity and international mobile equipment identity) and other subscriber status details, and any such information that Phemex is required to collect from time to time.

You represent and warrant that any and all information provided to us pursuant to these Terms or otherwise is true, accurate and not misleading in any respect. If any such information changes, it is your obligation to update such information as soon as possible.

From time to time we may be required to request further information regarding your transactions in order to comply with applicable laws and regulations and our own policies. When we carry out these enquiries, you acknowledge and agree that your personal information may be disclosed to credit reference and fraud or financial crime prevention agencies and that these agencies may respond to our enquiries in full. This is an identity check only and will not have adverse effect on your credit rating. Failure to provide such information in a timely fashion may result in the suspension of your ability to use the Services (until you provide such information) or the closure of your Account.

We reserve the right to maintain your account registration information after you close your Account for business and regulatory compliance purposes, subject to applicable laws and regulations.

4. AML AND CTF COMPLIANCE

Our AML and CTF procedures are guided by all applicable rules and regulations regarding AML and CTF. These standards are designed to prevent the use of the Phemex platform for money laundering or terrorist financing activities. We take compliance very seriously and it is our policy to take all the necessary steps to prohibit fraudulent transactions, report suspicious activities, and actively engage in the prevention of money laundering and any related acts that facilitate money laundering, terrorist financing or any other financial crimes.

5. INITIAL FUNDING; THIRD PARTY TRANSFERS

In order to fund your Account and begin trading, you will need to first procure Digital Assets. You may (i) purchase Digital Assets via third-party service providers, or (ii) exchange Digital Assets for fiat currency with other Users, or vice versa, as Phemex may allow from time to time pursuant to our policies. These shall not be deemed as recommendations of Phemex. Once purchased, you can send such purchased Digital Assets to the applicable address provided by Phemex and wait for the balance to appear in your Account. Alternatively, if you already own Digital Assets, you may send Digital Assets you already own to the applicable address provided by Phemex and wait for the balance to appear in your Account. It is your responsibility to ensure you send the Digital Assets to the correct address provided for that particular Digital Asset, else your funds may never be recovered.

If you send a Digital Asset to a Phemex address that does not correspond to that exact Digital Asset, or if you make any typos or inaccuracies in the wallet address, such Digital Asset may be lost forever. If you send a Digital Asset from your Account to an external address that does not correspond to that exact Digital Asset, or if you make any typos or inaccuracies in such wallet address, such Digital Asset may be lost forever. You assume all liability for any losses incurred as a result of sending a Digital Asset to an incorrect or non-compatible address.

Phemex makes no representations or warranties regarding the amount of time that may be required to complete transfer of your Digital Assets from a third-party wallet or other source and have said Digital Assets become available in your Account. When you elect to transfer Digital Assets from your Account to a third-party wallet or other location, it is always possible the party administering the new location may reject your transfer or that the transfer may fail due to technical or other issues affecting our platform. You agree that you shall not hold Phemex liable for any damages arising from a rejected transfer.

6. OTC TRADING

Following the completion of the registration and identity verification for your Phemex Account, you may conduct OTC Trading on Phemex via third-party OTC platforms (each an “OTC Platform”) as designated by us from time to time. OTC Trading refers to spot transactions in which Digital Currencies are exchanged for fiat currencies or vice versa.

Prior to conducting OTC Trading, and in accordance with specific type of OTC Trading, you shall separately read and sign user agreements with a certain OTC Platform, and comply with our Risk Warning, Privacy Policy and relevant policies (if any) as well as the business rules of such OTC Platform, and open an account on such OTC Platform (“OTC Account”), if applicable. Especially, it’s recommended that you carefully read and understand the rules for fees and privacy protection in relation to the OTC Trading.

You may purchase and/or sell supported Digital Assets by linking your OTC Account to your Phemex Account. In order to complete your purchase or sale, you authorize us to (i) transfer Digital Assets between your Phemex Account and the wallet address of the OTC Platform you deal with, (ii) disclose your necessary transaction information and personal information to such OTC Platform and (iii) send instructions to accordingly debit or credit your selected OTC Account(s) and/or credit card(s) and third-party payment method(s) linked to such OTC Account(s) (if applicable) in settlement of sell transactions. We will send these instructions as soon as reasonably possible.

Although we will attempt to deliver Digital Assets to or from you (as the case may be) as promptly as possible, funds may be debited from or credited to your selected OTC Account and/or credit card(s) and third-party payment method(s) linked to such OTC Account (if applicable) a little or much earlier than the status of your OTC Trading is shown as complete or the Digital Assets is delivered to or from your Phemex Account, and it may take long time to compete transmission of your funds, the process of which is out of our control and therefore out of our liability.

Notwithstanding the foregoing, and in addition to Section 11 and 16 hereof, Phemex and each OTC Platform may, in our sole and absolute discretion, without liability to you or any third party, refuse, suspend or terminate to provide you with those services of or relevant to OTC Trading, whether or not pursuant to appliable laws, regulations or governmental orders.

7. PRIVACY POLICY

We are committed to protecting your personal information and to helping you understand exactly how your personal information is being used. You should carefully read our Privacy Policy which provide details on how your personal information is collected, stored, protected, and used.

8. COMMUNICATIONS

By entering into these Terms, you agree to receive electronic communications and notifications. These Terms are provided to you and concluded in English. We will communicate with you in English for all matters related to your use of our Services. Where we have provided you with a translation of the English language version of these Terms, you agree that the translation is provided for your convenience only and that the English language version of these Terms will govern your use of the Services.

9. SECURITY OF USER INFORMATION

You are responsible for maintaining the confidentiality and security of any and all account names, User IDs, passwords and any other security feature that you use to access the Services. You are responsible for (i) keeping your email address up to date in your Account profile and (ii) maintaining the confidentiality of your User information and the security of your Account, which includes the enabling of all relevant security features. You agree to notify Phemex immediately if you become aware of any unauthorized use of the Services or any other breach of security regarding the Services. Phemex will not be liable for any loss or damage arising from your failure to protect your Account or your User information.

We shall not bear any liability for any damage or interruptions caused by any computer viruses, spyware, or other malware that may affect your computer or other equipment, or any phishing, spoofing, or other attacks. We advise the regular use of a reliable virus and malware screening and prevention software. If you question the authenticity of a communication purporting to be from Phemex, you should login to your Account through the Phemex website (Phemex.com) (the “Site”) or via the App, not by clicking links contained in emails.

We go to great lengths to protect your Account, but we need you to do the same. It is important that you always protect not only your password but also the email account associated with your Account and any device used to access your Account. We strongly advise you to enable two-factor authentication: this offers you greater protection from possible attackers attempting to log in to your Account than a password alone and in situations where your email and/or password is compromised by a third-party data breach.

10. API USE

Subject to your compliance with these Terms and any other Term which may be in place between you and Phemex related to your use of the API, Phemex hereby grants you a limited, revocable, non-exclusive, non-transferable, non-sublicensable license, to use the API solely for the purposes of trading on Phemex. You agree to not use the API or data provided through the API for any other commercial purpose. Your access and use the API entirely at your own risk, and Phemex will not be responsible for any actions you take based on the API.

Phemex may, at its sole discretion, set limits on the number of API calls that you can make, for example, to maintain market stability and integrity. You acknowledge and agree that if you exceed these limits, Phemex may moderate your activity or cease offering you access to the API (or any other API offered by the Phemex group), each in its sole discretion. Phemex may immediately suspend or terminate your access to the API without notice if it believes you are in violation of these Terms (including, without limitation, Section 21) or any other term which may be in place between you and Phemex related to your use of the API.

11. ACCOUNT SUSPENSION & CLOSURE

We may, in our sole and absolute discretion, without liability to you or any third party, refuse to let you open an Account, suspend your Account, consolidate Accounts if you have more than one or terminate your Account or your use of one or more of the Services. Such actions may be taken as a result of a number of factors, including without limitation account inactivity, failure to respond to customer support requests, failure to positively identify you, a court order or your violation of these Terms (including without limitation Section 21). Phemex may also temporarily suspend access to your Account in the event that a technical problem causes system outage or Account errors until the problem is resolved. If you do not accept the terms and conditions of these Terms, we may, in our sole and absolute discretion, without liability to you or any third party, temporarily or permanently suspend your Account, or terminate your Account or your use of one or more of the Services.

You may terminate these Terms at any time by closing your Account in accordance with these Terms. In order to do so, you should contact support@phemex.zendesk.com or Online Chat who will assist you in closing your Account. You should also contact support@phemex.zendesk.com or Online Chat if you are seeking to close an Account on behalf of a deceased User. You may not close an Account if Phemex determines, in its sole discretion, that such closure is being performed in an effort to evade a legal or regulatory investigation or avoid paying any amounts otherwise due to Phemex.

We encourage you to withdraw any remaining balance of Digital Assets prior to issuing a request to close your Account. We will be unable to close your Account at your request unless you have withdrawn your remaining balance of Digital Assets. We reserve the right to restrict or refuse to permit withdrawals from your Account if (i) your Account has otherwise been suspended or closed by Phemex in accordance with these Terms; (ii) to do so would be prohibited by law or a court order or we have determined that the Digital Assets were obtained fraudulently; or (iii) you have not undergone the required identity verification procedure such that your identity has been verified. Upon closure or suspension of your Account, you authorize Phemex to cancel or suspend pending transactions.

In the event that you or Phemex terminates these Terms or your access to the Services, or deactivates or cancels your Account, you remain liable for all activity conducted with or in connection with your Account while it was open and for all amounts due hereunder.

12. RISK DISCLOSURES

The following list of risks associated with Digital Assets and the Services is not exhaustive.

No advice

Phemex provides an execution-only service and does not advise on the merits of any particular transactions, trading risk or their tax consequences, and Phemex does not provide any other financial, investment or legal advice in connection with the Services. Any opinions, news, research, analyses, prices, or other information contained on the Planform are provided as general market commentary, and do not constitute investment advice. Phemex shall not be responsible for any loss arising from any investment based on any recommendation, forecast or other information provided. To the extent that we or our representatives do provide trading recommendations, market commentary, or any other information, the act of doing so is incidental to your relationship with us and such information may not be considered as investment or financial advice and should not be construed as such. Any decision to buy or sell Digital Assets is the User’s decision and Phemex will not be liable for any loss suffered.

You accept the risk of trading Digital Assets. In entering into any transaction on Phemex, you represent that you have been, are, and will be solely responsible for making your own independent appraisal and investigations into the risks of the transaction and the underlying Digital Assets. You represent that you have sufficient knowledge, market sophistication, professional advice and experience to make your own evaluation of the merits and risks of any transaction or any underlying Digital Asset.

Digital Assets and transfers

Trading Digital Assets can be extremely risky. Each Digital Asset has unique features that make it more or less likely to fluctuate in value. In addition, factors beyond Phemex’s control may affect market liquidity for a particular Digital Asset, such as regulatory activity, market manipulation, or unexplainable price volatility. Blockchain networks may go offline as a result of bugs, Forks (defined below), or a number of other unforeseeable reasons. As a general matter, we advise Users with limited trading experience and low-risk tolerance not to engage in active trading. Speculating on the value of Digital Assets is high risk and Users should never trade more than they can afford to lose.

Understanding Digital Assets requires advanced technical knowledge. Digital Assets are often described in exceedingly technical language that requires a comprehensive understanding of applied cryptography and computer science in order to appreciate inherent risks. Listing of a Digital Asset on Phemex does not indicate approval or disapproval of the underlying technology regarding any Digital Asset and should not be used as a substitute for your own understanding of the risks specific to each Digital Asset. We give you no warranty as to the suitability of the Digital Asset traded under these Terms and assume no fiduciary duty in our relations with you.

Users accept all consequences of sending Digital Assets to an address off our platform. Digital Asset transactions may not be reversible. Once you send Digital Assets to an address, you accept the risk that you may lose access to your Digital Assets indefinitely. For example, an address may have been entered incorrectly and the true owner of the address may never be discovered, or an address may belong to an entity that will not return your Digital Assets, or an address belongs to an entity that may return your Digital Assets but first requires action on your part, such as verification of your identity.

Supply and value of Digital Assets

The ability for you to purchase Digital Assets using Phemex is contingent on there being a counterparty willing to sell the same Digital Asset, which is outside of Phemex’s control. Phemex makes no promises as to the timing or availability of the ability to purchase Digital Assets via the platform.

The value of Digital Assets may be derived from the continued willingness of market participants to exchange Digital Assets for Digital Assets, which may result in the potentiality for the permanent and total loss of value of a particular Digital Asset should the market for that Digital Asset disappeared.

You acknowledge and agree that Digital Assets and/or Phemex features available in one jurisdiction may not be available for trading or to access, as applicable, in another.

Software protocols and operational challenges

The software protocols that underlie Digital Assets are typically open-source projects, which means that (i) the development and control of such Digital Assets is outside of Phemex’s control and (ii) such software protocols are subject to sudden and dramatic changes that might have a significant impact on the availability, usability or value of a given Digital Asset.

You are aware of and accept the risk of operational challenges. Phemex may experience sophisticated cyber-attacks, unexpected surges in activity or other operational or technical difficulties that may cause interruptions to the Services. You understand that the Services may experience operational issues that lead to delays. You agree to accept the risk of transaction failure resulting from unanticipated or heightened technical difficulties, including those resulting from sophisticated attacks. You agree not to hold Phemex accountable for any related losses.

Internet Risk

While trading on our Site and/or App, system errors might occur. User should be aware of the risks that may result from any system failure which could mean that his/her order may be delayed or fail.

User acknowledges that there are risks associated with utilizing an internet-based trading system including, but not limited to, the failure of hardware, software, and internet connections, the risk of malicious software introduction, the risk that third parties may obtain unauthorized access to information and/or digital assets stored on your behalf, cyber-attack, computer viruses, communication failures, disruptions, errors, distortions or delays a User may experience when trading via the Services, howsoever caused, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment, or any phishing, spoofing or other attacks.

Compliance

You are responsible for complying with applicable law. You agree that Phemex is not responsible for determining whether or which laws may apply to your transactions, including tax laws. You are solely responsible for reporting and paying any taxes arising from your use of the Services.

Legislative and regulatory changes

Legislative and regulatory changes or actions at the state, federal, national or international level may adversely affect the use, transfer, exchange, and value of Digital Assets. User shall bear the sole responsibility to determine if the trading of Digital Assets or the potential appreciation or depreciation in the value of Digital Assets over time has tax implications for such User in his/her applicable jurisdiction. Users are solely responsible for withholding, collecting, reporting, paying, and/or remitting any and all taxes to the appropriate tax authorities in such jurisdiction(s).

Provided Phemex is required by any tax authority to file tax returns and/or pay any tax due on behalf of you, you agree that Phemex is entitled to be compensated for those costs and losses by deducting an equivalent amount from your income in respective transactions or the potential appreciation or depreciation in the value of Digital Assets over time, or in any other reasonable manner at our sole discretion.

Third Parties’ Risk

Phemex may cooperate with third parties providing certain Services (including without limitation fiat/Digital Assets services, identification verification services, and data processing services). If any such third party loses any money, leaks your information, fails or goes out of business, there may not be specific legal protection that covers you for losses arising from any funds you may have held with such third party, even when such party is registered with a governmental authority. Depending on the structure and security of the digital wallet, some may be vulnerable to hacks, resulting in the theft of Digital Assets or loss of User assets. Phemex will not be responsible in the event of losses caused by or attributed to those third parties.

13. FORKS & AIRDROPS

As a result of the decentralized and open-source nature of Digital Assets it is possible that sudden or planned, unexpected or expected, uncontested or controversial changes (“Forks”) can be made to any Digital Asset that may change the usability, functions, value or even name of a given Digital Asset. Such Forks may result in multiple versions of a Digital Asset and could lead to the dominance of one or more such versions of a Digital Asset (each a “Dominant Digital Asset”) and the partial or total abandonment or loss of value of any other versions of such Digital Asset (each a “Non-Dominant Digital Asset”).

Phemex is under no obligation to support a Fork of a Digital Asset that you hold in your Account, whether or not any resulting version of such forked Digital Asset is a Dominant Digital Asset or Non-Dominant Digital Asset or holds value at or following such Fork. If Phemex elects, in its sole discretion, to support a Fork of a Digital Asset, it will make a public announcement through its Site and/or the App and/or by notifying customers via email, and shall bear no liability for any real or potential losses that may result based on the decision to support such Fork or the timing of implementation of support. If Phemex, in its sole discretion, does not elect to support a Fork of a given Digital Asset, including the determination to support, continue to support, or cease to support any Dominant Digital Asset or Non-Dominant Digital Asset, Phemex assumes no responsibility or liability whatsoever for any losses or other issues that might arise from an unsupported Fork of a Digital Asset.

Forks of Digital Assets can be frequent, contentious and unpredictable, and therefore cannot be consistently supported on Phemex. When trading or holding Digital Assets using your Account you should operate under the assumption that Phemex will never support any Fork of the supported Digital Asset.

Note that in the event of a Fork of a Digital Asset, Phemex may be forced to suspend certain activities relating to such Digital Asset (including but not limited todepositing, and withdrawing) on Phemex for an extended period of time until Phemex has determined in its sole discretion that such functionality can be restored (“Downtime”). This Downtime will likely occur immediately upon a Fork of a given Digital Asset, potentially with little to no warning, and during this period of Downtime you will not be able to deposit or withdraw the Digital Asset subject to such Fork.

Phemex also does not generally support any other distributions, dividends, or “airdrops” of Digital Assets to wallet addresses (collectively, “Airdrops”) regardless of whether or not you would have received such Airdrops if you held your Digital Assets outside of Phemex. Phemex may, at its sole discretion, elect to distribute and/or support an Airdrop, but we have no obligation to do so and shall bear no liability to Users for failing to do so. If we do not support an Airdrop, we will not claim such Airdrop for our own benefit (unless it is unavoidable or impractical to avoid based on the means of distribution).

14. ATTACKS ON BLOCKCHAIN NETWORKS

Phemex does not have any ability to prevent or mitigate attacks on blockchain networks. Phemex reserves the right to take the following commercially reasonable actions in the event of an attack: (i) if we are able to confirm that a Digital Asset active on Phemex been compromised or is under attack, we may immediately halt trading, deposits, and withdrawals for such Digital Asset; (ii) if it is determined that such an attack caused the Digital Asset to greatly decrease in value, we may discontinue trade activity in such Digital Asset entirely. Phemex does not have any obligation to engage in activity in relation to attacks on blockchain networks.

Resolutions concerning deposits, withdrawals and User balances for an attacked Digital Asset will be determined on a case-by-case basis by Phemex in its sole discretion.

Phemex makes no representation and does not warrant the safety of Phemex and you assume all liability for any lost value or stolen property.

15. FUTURE TRADING

This Section 15 applies only to the extent you are permitted to engage in futures trading on the platform. Future trading is prohibited in certain jurisdictions and you may not be able to engage in futures trading on the platform: you should refer to the Site/App for further details. Phemex reserves the right to amend and/or remove future trading functionality in your Country of Residence. You will receive reasonable advance notice of any such change.

Future trading on Phemex is HIGH RISK. The contract specifications shall be referred to at https://phemex.com/contract/introduction. As a futures trader, you acknowledge and agree that you shall access and use the futures trading service at your own risks. You agree that all investment operations conducted on Phemex represent your true investment intentions and that unconditionally accept the potential risks and benefits of your investment decisions. You should fully understand the risks associated with futures trading and solely responsible and liable for any and all trading and non-trading activity on your futures account. Do not enter into a transaction or invest in funds that are above your financial abilities.

You agree to maintain in your futures account a sufficient amount of Digital Assets required by Phemex for Users to engage in futures trading. Failure to maintain a sufficient amount of assets can result in the forced liquidation of assets in your respective futures account.

Under certain market conditions, you may find it difficult or impossible to liquidate a position. This can occur, for example, if there is insufficient liquidity in the market or due to technical issues on our platform. Placing contingent orders, such as “stop-loss” or “stop-limit” orders, will not necessarily limit your losses to the intended amounts, since market conditions may make it impossible to execute such orders. The use of leverage can work against you as well as for you and can lead to large losses as well as gains. All Users understand that the technology underlying Digital Assets is subject to change at any time, and such changes may affect your assets stored on our platform. You claim full responsibility for monitoring such technological changes and understanding their consequences for your Digital Assets. Users conduct all trading, futures trading on their own account and Phemex does not take any responsibility for any loss or damage incurred as a result of their use of any Services or their failure to understand the risks involved associated with Digital Assets use generally or their use of our Services.

16. RIGHT TO CHANGE OR REMOVE FEATURES AND SUSPEND OR DELAY TRANSACTIONS

We reserve the right to change, suspend, or discontinue any aspect of the Services at any time and in any jurisdiction, including hours of operation or availability of any feature, without notice and liability. We may decline to process any order and may limit or suspend your use of one or more Services at any time, in our sole discretion. Suspension of your use of any of the Services will not affect your rights and obligations pursuant to these Terms. We may, in our sole discretion, decline to process orders if (i) we believe the transaction is suspicious; (ii) the transaction may involve fraud or misconduct; (iii) it violates applicable laws; or (vi) it violates these Terms. Where permitted by law, we will notify you by the end of the business day if we have suspended processing your orders and, if possible, provide our reasons for doing so and anything you can do to correct any errors leading to the stoppage.

17. FEES

In consideration of the use of the Services, you agree to pay to Phemex the fees for completed trades, as set forth in our fee schedule displayed on the Site (“Fee Schedule”), which Phemex may revise or update in its sole discretion from time to time. You authorize Phemex to deduct any applicable fees from your Account at the time you make a given transaction. Changes to the fee schedule are effective as of the date set forth in any revision and will apply prospectively from that date forward.

18. PROMOTIONS

Phemex does not, as a general rule, participate in promotions without an official pronouncement, either on the Site, the App or elsewhere. You shall obtain written approval prior to releasing any statements, written media releases, public announcements and public disclosures, including promotional or marketing materials, relating to Phemex.

19. ARBITRATION: WAIVER OF CLASS ACTION

If you have a dispute with Phemex (a “Complaint”), you agree to contact Phemex through our support team at Online Chat to attempt to resolve any such dispute amicably. If we cannot resolve the dispute through Online Chat, the Phemex support team may send you a reply by email within 24-48 hours. Please note that if your Complaint is related to Digital Assets security, you agree to send an email to support@phemex.zendesk.com for such Complaint. And if you are not satisfied with the Online Chat and you have further Complaint, you agree to send an email to complaints@phemex.com and negotiate in good faith with the relevant support team. You agree to use this process (the “Complaint Process”) before filing any arbitration claim or small claims action. If you do not follow the procedures set out in this Section before filing an arbitration claim or suit in small claims court, we shall have the right to ask the arbitrator or small claims court to dismiss your filing unless and until you complete the following steps.

If we cannot resolve the dispute through the Complaint Process, you and we agree that any dispute arising out of or relating to these Terms or the Services, including, without limitation, federal and state statutory claims, common law claims, and those based in contract, tort, fraud, misrepresentation, or any other legal theory, shall be resolved through binding arbitration, on an individual basis (the “Arbitration Term”).

CLASS ACTION WAIVER: TO THE EXTENT PERMISSIBLE BY LAW, ALL CLAIMS MUST BE BROUGHT IN A PARTY’S INDIVIDUAL CAPACITY, AND NOT AS A PLAINTIFF OR CLASS MEMBER IN ANY PURPORTED CLASS, COLLECTIVE ACTION, OR REPRESENTATIVE PROCEEDING (COLLECTIVELY “CLASS ACTION WAIVER”). THE ARBITRATOR MAY NOT CONSOLIDATE MORE THAN ONE PERSON’S CLAIMS OR ENGAGE IN ANY CLASS ARBITRATION. YOU ACKNOWLEDGE THAT, BY AGREEING TO THESE TERMS, YOU AND PHEMEX ARE EACH WAIVING THE RIGHT TO A TRIAL BY JURY AND THE RIGHT TO PARTICIPATE IN A CLASS ACTION.

An arbitrator’s decision and judgment thereon will not have a precedential or collateral estoppel effect.

20. COPYRIGHT OF FEEDBACK MATERIALS

You acknowledge and agree that any materials, including without limitation questions, comments, feedback, suggestions, ideas, plans, notes, drawings, original or creative materials or other information or commentary you provide on our platform or one of our social media accounts, regarding Phemex or the Services (collectively, “Feedback”) that are provided by you, whether by email, posting to the Site, provided via the App or otherwise, are non-confidential and will become the sole property of Phemex. Phemex will own exclusive rights, including all intellectual property rights, and will be entitled to the unrestricted use and dissemination of such Feedback for any purpose, commercial or otherwise, without acknowledgment or compensation to you.

21. RESTRICTED ACTIVITIES

In connection with your use of the Services, you shall not:

• violate or assist any party in violating any law, statute, ordinance, regulation or any rule of any self-regulatory or similar organization of which you are or are required to be a member through your use of the Services;
• provide false, inaccurate, incomplete or misleading information;
• infringe upon Phemex’s or any third party’s copyright, patent, trademark, or intellectual property rights;
• engage in any illegal activity, including without limitation illegal gambling, money laundering, fraud, blackmail, extortion, ransoming data, the financing of terrorism, other violent activities or any prohibited market practices;
• distribute unsolicited or unauthorized advertising or promotional materials, written media releases, public announcements and public disclosures, junk mails, spam or chain letters;
• use a web crawler or similar technique to access our Services or to extract data;
• reverse engineer or disassemble any aspect of the Site, the API, the App or the Services in an effort to access any source code, underlying ideas and concepts and algorithms;
• perform any vulnerability, penetration or similar testing on the API;
• take any action that imposes an unreasonable or disproportionately large load on our infrastructure, or detrimentally interfere with, intercept, or expropriate any system, data or information;
• transmit or upload any material to the Site or the App that contains viruses, Trojan horses, worms, or any other harmful or deleterious programs;
• otherwise attempt to gain unauthorized access to or use of the Site, the API, the App, other Phemex Accounts, computer systems or networks connected to the Site or the App, through password mining or any other means;
• transfer any rights granted to you under these Terms;
• engage in any other activity which, in Phemex’s reasonable opinion, amounts to or may amount to market abuse including without limitation the carrying out of fictitious transactions or wash trades, front running or engaging in disorderly market conduct; or
• engage in any behavior which is unlawful, violates these Terms or is otherwise deemed unacceptable by Phemex in its sole discretion.

22. ELECTRONIC TRADING TERMS

We may delist a Digital Asset at any time in our sole discretion based on a number of factors, one of which may include changes in a given Digital Asset’s characteristics after we have listed the Digital Asset on Phemex.

A transaction on Phemex may fail for several reasons, including without limitation to change in seller prices, insufficient margin, or unanticipated technical difficulties. We make no representation or warrant that any transaction will be executed properly. We are under no circumstances liable for any loss or injury suffered by a failure of a transaction to complete properly or in a timely manner. Further, we are in no way responsible for notifying you of a transaction failure, although you are able to see any such failures on the Site or the App. You have full responsibility to determine and inquire into the failure of any transaction which you initiate. PHEMEX DOES NOT GUARANTEE THAT ANY TRANSACTION WILL BE EXECUTED, ACCEPTED, RECORDED OR REMAIN OPEN.

In the event that you receive any data, information, or software through our Services other than that which you are entitled to receive pursuant to these Terms, you will immediately notify us and will not use, in any way whatsoever, such data, information or software. If you request a withdrawal of Digital Assets and we cannot comply with it without closing some part of your open positions, we will not comply with the request until you have closed sufficient positions to allow you to make the withdrawal. We may refuse to execute a trade, impose trade amount limits or restrictions at any time in our sole discretion without notice. Specifically, we reserve the right to refuse to process, or the right to cancel or reverse, any transaction or not provide access to a User’s deposit address on Phemex where it suspects the transaction involves money laundering, terrorist financing, fraud, or any other type of crime or if we suspect the transaction relates to a prohibited use as stated in these Terms, including transactions involving the opening of an Account and subsequent closure without any actual trading occurring. While Phemex may in its discretion reverse a trade, a User may not change, withdraw, or cancel its authorization to make a transaction, except with respect to partially filled orders.

We may correct, reverse, or cancel any trade impacted by an error in processing your purchase or otherwise. Your remedy in the event of an error will be limited. You may seek to cancel your order or obtain a refund of any amounts charged to you, although we cannot guarantee such cancellations or refunds will always be possible.

We provide Users with a platform that allows their orders to be matched with the orders of other Users. Orders may be partially filled or may be filled by a number of orders, depending on the trading activity at the time an order is placed. Phemex’s relationship with you under these Terms is as a trading platform provider only and does not act as principal or counterparty with respect to trades entered into on the platform.

The Digital Assets that are available for purchase through the Services may be subject to high or low transaction volume, liquidity, and volatility at any time for potentially extended periods. You acknowledge that while we are using commercially reasonable methods to provide exchange rate information to you through our Services, the exchange rate information we provide may differ from prevailing exchange rates made available by third parties. Similarly, the actual market rate at the time of your trade may be different from the indicated prevailing rate depending on the velocity of trading in the Digital Asset involved in your trade. You agree that you assume all risks and potential losses associated with price fluctuations or differences in actual versus indicated rates.

23. OWNERSHIP OF DIGITAL ASSETS

You hereby represent and warrant to us that any Digital Assets used by you in connection with the Services are either owned by you or that you are validly authorized to carry out transactions using such Digital Assets and that all transactions initiated with your Account are for your own Account and not on behalf of any other person or entity. For the avoidance of doubt, Phemex does not own any Digital Assets held by Users on the platform.

24. TAXES

It is your responsibility to determine what, if any, taxes apply to the payments you make or receive, and to collect, report, and remit the correct tax to the appropriate tax authority. We will make any tax withholdings or filings that we are required by law to make, but we are not responsible for determining whether taxes apply to your transaction, or for collecting, reporting, or remitting any taxes arising from any transaction.

25. INDEMNIFICATION; RELEASE

You agree to indemnify and hold Phemex, its affiliates, and service providers, and each of their officers, directors, agents, joint venturers, employees, and representatives harmless from any claim or demand (including attorneys’ fees and any losses, fines, fees, or penalties imposed by any regulatory authority) arising out of your breach of these Terms, or your violation of any law or regulation.

For the purpose of this Section 25, the term “losses” means all net costs reasonably incurred by us or the other persons referred to in this Section which are the result of the matters set out in this Section 25 and which may relate to any claims, demands, causes of action, debt, cost, expense or other liability, including reasonable legal fees (without duplication).

“Indemnify” means to compensate someone for the harm or loss they may suffer. If you breach these Terms or violate the law and it results in Phemex facing claims or expenses, you agree to cover those losses.

If you have a dispute with one or more users or third parties, you release Phemex (and its affiliates and service providers, and each of their officers, directors, agents, joint ventures, employees, and representatives) from any and all claims, demands, and damages (actual and consequential) of every kind and nature arising out of or in any way connected with such disputes. If you have a dispute with anyone other than Phemex, you release us from liability associated with that dispute.

26. LIMITATION OF LIABILITY; NO WARRANTY

YOU EXPRESSLY UNDERSTAND AND AGREE THAT PHEMEX AND OUR AFFILIATES AND SERVICE PROVIDERS, AND THEIR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND REPRESENTATIVES WILL NOT BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY DAMAGES, OR DAMAGES FOR LOSS OF PROFITS INCLUDING WITHOUT LIMITATION DAMAGES FOR LOSS OF GOODWILL, USE, DATA, OR OTHER INTANGIBLE LOSSES (EVEN IF PHEMEX HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES), WHETHER BASED ON CONTRACT, TORT, NEGLIGENCE, STRICT LIABILITY, OR OTHERWISE, RESULTING FROM: (I) THE USE OR THE INABILITY TO USE THE SERVICES; (II) THE COST OF PROCUREMENT OF SUBSTITUTE GOODS AND SERVICES RESULTING FROM ANY GOODS, DATA, INFORMATION, OR SERVICES PURCHASED OR OBTAINED OR MESSAGES RECEIVED OR TRANSACTIONS ENTERED INTO THROUGH OR FROM THE SERVICES; (III) UNAUTHORISED ACCESS TO OR ALTERATION OF YOUR TRANSMISSIONS OR DATA; OR (IV) ANY OTHER MATTER RELATING TO THE SERVICES.

We will not be liable for “exemplary damages” (often called punitive damages) or other indirect losses.

SOME JURISDICTIONS DO NOT ALLOW THE EXCLUSION OF CERTAIN WARRANTIES OR THE LIMITATION OR EXCLUSION OF LIABILITY FOR INCIDENTAL OR CONSEQUENTIAL DAMAGES. ACCORDINGLY, SOME OF THE LIMITATIONS SET FORTH ABOVE MAY NOT APPLY TO YOU. IF YOU ARE DISSATISFIED WITH ANY PORTION OF THE SERVICES OR WITH THESE TERMS, YOUR SOLE AND EXCLUSIVE REMEDY IS TO DISCONTINUE USE OF THE SERVICES AND CLOSE YOUR ACCOUNT. THE SERVICES ARE PROVIDED “AS IS” AND WITHOUT ANY REPRESENTATION OR WARRANTY, WHETHER EXPRESS OR IMPLIED. PHEMEX, OUR AFFILIATES, AND OUR RESPECTIVE OFFICERS, DIRECTORS, AGENTS, JOINT VENTURERS, EMPLOYEES, AND SUPPLIERS SPECIFICALLY DISCLAIM ANY IMPLIED WARRANTIES OF TITLE, MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE OR NON-INFRINGEMENT. PHEMEX MAKES NO WARRANTY THAT (I) THE SERVICES WILL MEET YOUR REQUIREMENTS, (II) THE SERVICES WILL BE UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE, (III) THE SERVICES WILL BE AVAILABLE OR PERMISSIBLE IN ALL JURISDICTIONS, OR (IV) THE QUALITY OF ANY PRODUCTS, SERVICES, INFORMATION, OR OTHER MATERIAL PURCHASED OR OBTAINED BY YOU WILL MEET YOUR EXPECTATIONS.

We cannot guarantee that our Services will always meet your demands. As we grow, we will likely add new services, change certain features and drop old features. We hope you are always happy with our Services, but we cannot contractually guarantee you will be.

27. FORCE MAJEURE

Phemex shall have no liability for any failure or delay resulting from any abnormal or unforeseeable circumstances outside our reasonable control, the consequences of which would have been unavoidable despite all efforts to the contrary, including without limitation governmental action or acts of terrorism, earthquake, fire, flood, or other acts of God, labor conditions, delays or failures caused by problems with another system or network, mechanical breakdown or data-processing failures or where we are bound by other legal obligations.

28. GOVERNING LAW; VENUE

The laws of Singapore shall govern these Terms. Phemex wants to address your concerns without resorting to formal legal proceedings. Before filing a claim, you agree to try to resolve the dispute informally by contacting Phemex first through Online Chat. You and Phemex agree to resolve any claims relating to these Terms (including any question regarding their existence, validity, termination, or any Services or products provided, and any representations made by us) through final and binding arbitration, except as set forth under exceptions stated below. You agree to first give us an opportunity to resolve any claims by contacting us as set forth above. If we are not able to resolve your claims within 60 days of receiving the notice, you may seek relief through arbitration or in the Small Claims Tribunals of Singapore, as set forth below.

Either you or Phemex may submit a dispute (after having made good faith efforts to resolve such dispute in accordance with paragraph above) for final, binding resolution by arbitration under the arbitration rules of the Singapore International Arbitration Center (“SIAC”) in Singapore, which are deemed to be incorporated by reference. The arbitration tribunal shall consist of a sole arbitrator to be appointed by the president of SIAC. Judgment on any arbitral award may be entered in any court having jurisdiction over the party (or the assets of the party) due and owing such award.

To begin an arbitration proceeding, you must send a letter requesting arbitration and describing your claims to the address we designate. If we request arbitration against you, we will give you notice at the email address or street address you have provided.

29. AMENDMENTS

We may amend any portion of these Terms at any time by posting the revised version of these Terms with an updated revision date. The changes will become effective, and shall be deemed accepted by you, the first time you use the Services after the initial posting of the revised Terms and shall apply on a going-forward basis with respect to transactions initiated after the posting date. In the event that you do not agree with any such modification, your sole and exclusive remedy is to terminate your use of the Services and close your Account. You agree that we shall not be liable to you or any third party as a result of any losses suffered by any modification or amendment of these Terms. As Phemex grows and offers new features, products, and services, we will need to make changes to these Terms. You can always tell when these Terms was last changed by checking the “Last Revised” date at the top of these Terms.

30. ASSIGNMENT

You may not transfer or assign these Terms or any rights or obligations you have under these Terms without our prior written consent or otherwise and any such attempted assignment shall be void. We reserve the right to freely assign or transfer these Terms and the rights and obligations of these Terms, to any third party at any time without notice or consent. If you object to such transfer or assignment, you may stop using our Services and terminate these Terms by contacting Online Chat and asking us to close your Account.

31. SURVIVAL

Upon termination of your account or these Terms for any other reason, all rights and obligations of the parties that by their nature are continuing will survive such termination.

32. THIRD-PARTY APPLICATIONS

If you grant express permission to a third party to connect to your Account, either through the third party’s product or through Phemex, you acknowledge that granting permission to a third party to take specific actions on your behalf does not relieve you of any of your responsibilities under these Terms. Further, you acknowledge and agree that you will not hold Phemex responsible for, and will indemnify Phemex from, any liability arising from the actions or inactions of this third party in connection with the permissions you grant.

33. INFORMATION ON PLATFORM; THIRD PARTY CONTENT

Phemex strives to provide accurate and reliable information and content on the Site and the App, but such information may not always be correct, complete, or up to date. Phemex will update the information on the Site and the App as necessary to provide you with the most up to date information, but you should always independently verify such information. The Site and the App may also contain links to third party websites, applications, events or other materials (“Third Party Content”). Such information is provided for your convenience and links or references to Third Party Content do not constitute an endorsement by Phemex of any products or services. Phemex shall have no liability for any losses incurred as a result of actions taken in reliance on the information contained on the Site, the App or in any Third Party Content.

From time to time we might post helpful links or articles on our Site or provide these via the App, but you should investigate those sources on your own.

34. LIMITED LICENSE; IP RIGHTS

We grant you a limited, non-exclusive, non-sublicensable, and non-transferable license, subject to the terms and conditions of these Terms, to access and use the Services solely for approved purposes as determined by Phemex. Any other use of the Services is expressly prohibited. Phemex reserve all rights in the Services and you agree that these Terms does not grant you any rights in or licenses to the Services except for the limited license set forth above. Except as expressly authorised by Phemex, you agree not to modify, reverse engineer, copy, frame, scrape, rent, lease, loan, sell, distribute, or create derivative works based on the Services, in whole or in part. If you violate any portion of these Terms, your permission to access and use the Services may be terminated pursuant to these Terms. “Phemex.com”, “Phemex”, “” and all logos related to the Services are either trademarks, or registered marks of Phemex or its licensors. You may not copy, imitate, or use them without Phemex’s prior written consent. All right, title, and interest in and to the Site, any content thereon, the Services, the App and all technology and any content created or derived from any of the foregoing is the exclusive property of Phemex and its licensors.

We grant you access to use our Services, but we still own the intellectual property associated with these Services.

35. UNCLAIMED PROPERTY

If Phemex is holding funds in your Account, and Phemex is unable to contact you and has no record of your use of the Services for a prolonged period of time, applicable law may require Phemex to report these funds as unclaimed property to the applicable jurisdiction. Phemex reserves the right to deduct a dormancy fee or other administrative charges from such unclaimed funds, as permitted by applicable law.

If you haven’t logged into your Account for a prolonged period of time and we are unable to get in touch with you, we may be obligated under law to consider your account abandoned and we might then be required to transfer your account balance in such manner as provided by applicable law.

36. LEGAL COMPLIANCE

By using the Services, you represent that your actions are not in violation of any applicable export control restrictions. Without limiting the foregoing, you may not use the Services if (i) you are a resident, national or agent of the United States of America, United Kingdom, Ontario (Canada), Québec (Canada), Alberta (Canada), Saskatchewan (Canada), Afghanistan, Abkhazia, Belarus, Bermuda, Belgium, Central African Republic, China, Cuba, Crimea, Democratic Republic of the Congo, Ethiopia, Hong Kong, Iraq, Iran, Lebanon, Libya, Mali, Myanmar, Nicaragua, North Korea, Palestine, Republic of Seychelles, Russia, Sahrawi Arab Democratic Republic, Somalia, South Sudan, Sevastopol, South Korea, Sudan, Syria, Venezuela, Yemen, or any other jurisdiction where the Services offered by Phemex are restricted; (ii) you are a member of any sanctions list or equivalent maintained by the United States government, the United Kingdom government or by the European Union (“Restricted Persons”) or (iii) you intend to transact with any Restricted Territories or Restricted Persons.

37. ENTIRE TERM; THIRD PARTY RIGHTS; RELATIONSHIP OF PARTIES

The failure of Phemex to exercise or enforce any right or provision of these Terms shall not constitute a waiver of such right or provision. If any provision of these Terms shall be adjudged by any court of competent jurisdiction to be unenforceable or invalid, that provision shall be limited or eliminated to the minimum extent necessary so that these Terms shall otherwise remain in full force and effect and remain enforceable between the parties.

The heading and explanatory text are for reference purposes only and in no way define, limit, construe, or describe the scope or extent of such section. These Terms, including Phemex’s policies governing the Services referenced herein, the Privacy Policy and other policies to be promulgated from time to time constitute the entire Terms between you and Phemex with respect to the use of the Services.

These Terms are not intended and shall not be construed to create any rights or remedies in any parties other than you and Phemex and other Phemex affiliates which each shall be a third-party beneficiary of these Terms, and no other person shall assert any rights as a third-party beneficiary hereunder. If some future court judgment deems any particular provision of these Terms unenforceable, the rest of the Terms are still valid.

Phemex is an independent contractor for all purposes. Nothing in these Terms shall be deemed or is intended to be deemed, nor shall they cause, you and Phemex to be treated as partners, joint ventures, or otherwise as joint associates for profit, or either you or Phemex to be treated as the agent of the other.

38. QUESTIONS AND CONTACT INFORMATION

We often post outage notices and other relevant Services information on [Phemex.com] or the App, so we advise Users to check this before contacting support@phemex.zendesk.com or Online Chat.

To contact support, turn to support@phemex.zendesk.com or Online Chat. Please provide all relevant information, including your Phemex username and transaction IDs. Although we make no representations or provide no warranties about the speed of response, we will get back to you as soon as possible.

For any inquiries contact us at support@phemex.zendesk.com

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