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CUSTODY NOTE

Custodian Notice and Third-Party Disclosure are fundamental aspects of a secure and transparent asset management structure. Within the financial sector, especially in the evolving landscape of blockchain and cryptocurrencies, they are vital for ensuring the safe transfer of ownership and the protection of investor assets.

Vaultex is a non-custodial crypto wallet designed to empower users with seamless access to a plethora of financial services. Vaultex Ltd, a legally established entity under Nevis Laws, operates this website (the “Platform” or “Website”). Throughout the site, the terms “we”, “us” and “our” refer to Vaultex Ltd , also referred to as the “Company”, or “Vaultex,” the brand name used for the specific services described in this website.

BY USING THE WEBSITE OR WEBSITE SERVICES AFTER THE EFFECTIVE DATE, YOU AGREE TO HAVE UNDERSTOOD, ACCEPT, AND BE BOUND BY THE DISCLAIMER. YOU HEREBY CONSENT TO THE COLLECTION, UTILIZATION, SHARING, AND DISCLOSURE OF YOUR INFORMATION AS DESCRIBED IN THIS DISCLAIMER. IF YOU DO NOT ACCEPT THE DISCLAIMER IN ITS ENTIRETY, YOU MUST NOT ACCESS OR USE THE WEBSITE OR THE WEBSITE SERVICES AFTER THE EFFECTIVE DATE.

IF YOU AGREE TO THE DISCLAIMER ON BEHALF OF AN ENTITY OR AGENCY, OR IN CONNECTION WITH PROVIDING OR RECEIVING SERVICES ON BEHALF OF AN ENTITY OR AGENCY, YOU REPRESENT AND WARRANT THAT YOU HAVE THE AUTHORITY TO BIND THAT ENTITY OR AGENCY TO THE DISCLAIMER AND AGREE THAT YOU ARE BINDING BOTH YOU AND THAT ENTITY OR AGENCY TO THE DISCLAIMER OF THE COMPANY.

The custody note serves as an important document outlining the responsibilities, risks, liability clauses, and legal compliance associated with our service. While we do not directly hold custody of our customers` assets, the custody note provides clarity on the roles and obligations of both parties regarding asset management. It includes a comprehensive risk disclosure section to ensure customers understand the potential risks involved in using our service, despite the absence of direct custody. Additionally, the custody note specifies the mechanisms for dispute resolution and outlines our commitment to legal compliance with relevant laws and regulations. Through the custody note, we aim to foster transparency, trust, and legal protection for both our customers and our service, ensuring a secure and informed relationship between all stakeholders.

1. INTRODUCTION

    This Custody Note outlines the procedures and guidelines for managing cryptocurrency assets within a non-custodial wallet. As a non-custodial service, we do not have control over users` private keys or funds. Users are solely responsible for safeguarding their assets. This policy serves to establish best practices and provide guidance to users for secure asset management.

2. USER RESPONSIBILITY

    a) Private Key Management:

    Users must securely store their private keys offline, preferably in hardware wallets or encrypted digital vaults. Under no circumstances should users share their private keys with anyone, including platform administrators or support staff.

    b) Backup Procedures:

    Users are responsible for regularly backing up their private keys. It is recommended that backups be stored in multiple secure locations, such as encrypted USB drives or paper wallets.

    c) Security Best Practices:

    Users must implement robust security measures on their devices and networks, including up-to-date antivirus software, firewalls, and secure Wi-Fi connections. Avoid accessing cryptocurrency wallets on public or unsecured networks.

3. PLATFORM SECURITY

    a) Secure Infrastructure:

    Vaulltex employs industry-standard security protocols to safeguard the platform against unauthorized access and cyber threats. Regular security audits and vulnerability assessments are conducted to identify and address potential risks.

    b) Encryption:

    All sensitive user data, including private keys and personal information, is encrypted using strong encryption algorithms. Encryption keys are stored securely and accessed only by authorized personnel.

4. TRANSACTION VERIFICATION

    a) Transaction Confirmation:

    Users must verify the details of each transaction before confirming the transfer of funds. Double-check recipient addresses to ensure accuracy and prevent inadvertent transfers to incorrect addresses.

    b) Confirmation Thresholds:

    Users may have the option to set transaction confirmation thresholds to mitigate the risk of unauthorized or fraudulent transactions.

5. INCIDENT RESPONSE

    a) Reporting Security Incidents:

    Users must promptly report any suspicious activity or unauthorized access to their accounts. Our support team will investigate reported incidents and assist users in mitigating potential losses.

    b) Account Recovery:

    In the event of a lost or compromised private key, users must follow the prescribed account recovery procedures, which may include identity verification and additional security measures.

6. REGULATORY COMPLIANCE:

    a) KYC/AML Compliance:

    Users may be required to undergo Know Your Customer (KYC) and Anti-Money Laundering (AML) verification procedures in accordance with regulatory requirements.

    b) Tax Obligations:

    Users are responsible for complying with applicable tax laws and reporting cryptocurrency transactions to relevant tax authorities.

    Conclusion:

    This Custody Note emphasizes the importance of user responsibility and security in managing cryptocurrency assets within a non-custodial environment. By adhering to these guidelines and best practices, users can minimize the risk of unauthorized access, loss, or theft of their digital assets. Vaultex remains committed to providing a secure and reliable platform for the management of cryptocurrency holdings.