Virtual Asset Risk Disclosure
We disclose the risks associated with virtual assets to prevent harm from rapid price volatility and other characteristics of virtual assets, and to foster a healthy virtual asset ecosystem.
1. Highly Volatile Market Conditions
Virtual assets are traded 24 hours a day, 365 days a year worldwide, and due to the nature of trading and market conditions, prices can fluctuate dramatically in real time. Market conditions can be affected by numerous external environmental factors, including policy changes for each virtual asset, network conditions, regulatory requirements of specific countries, and international market prices.
2. Unequal Access to Technology
Virtual assets require technical review in many areas, including software and network upgrades or changes, concentrated trading volumes, attacks on specific targets, and verification of code and technical aspects. Approaching without basic knowledge of the technology may expose you to abuse cases such as indiscriminate proliferation of virtual assets, speculation beyond investment, fraudulent deposit-taking, and market manipulation.
3. Unregulated Status and Definition
All virtual assets are not legal tender (e.g., Korean Won (KRW)) issued by a specific country or its central bank and given legal tender status by that country's laws.
Unlike ordinary legal tender, virtual assets have characteristics where no specific entity guarantees payment, and they may be subject to change according to the laws of the jurisdiction where the investor resides.
Furthermore, there is no established legal entity responsible for guaranteeing value or determining gains and losses for damages arising from network transmission validity, data integrity, verification processes, network partitioning, and instability.
4. Notice Regarding Virtual Asset User Protection Act
In accordance with the "Act on the Protection of Virtual Asset Users" which came into effect on July 19, 2024, virtual asset service providers must take measures to protect users.
However, this Service is a non-custodial wallet service where users directly manage their own private keys. Therefore, the Company cannot recover or compensate for asset losses due to loss of private keys, hacking, phishing, or other causes.
Users are responsible for safely storing their private keys and recovery phrases and must not share them with third parties.
Caution: Investing in virtual assets carries the risk of loss of principal, and all responsibility for investment lies with the investor. Please verify sufficient information before making investment decisions and exercise careful judgment.