Terms of Service

Updated on January 10, 2025

PLEASE READ THIS AGREEMENT CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS AND WILL HAVE A SIGNIFICANT IMPACT ON HOW DISPUTES BETWEEN YOU AND HIBIT ARE RESOLVED. BY ACCESSING OR USING THE SERVICES PROVIDED BY HIBIT, YOU AGREE TO BE BOUND BY THE TERMS OF SERVICE.
1. Introduction
Welcome to Hibit (“Platform”). The Hibit’s Platform (including the Hibit’s website: www.hibit.ca, web app and mobile application provided to Canadian customers and any web access we provide to the application functions) is part of an overall service (the “Service” or “Services”) provided by Hibit Technology Ltd., a federally registered corporation in Canada (“Hibit”, “we”, “us” or “our”) These Terms of Service (“Terms”) govern your access to and use of our website, web app and mobile application , content, information, and services provided on or through the Platform and all other products and services (collectively, the “Services”). By accessing or using our Services, you (“user” or “customer”) agree to be bound by these Terms. If you do not agree to these Terms, you may not use our Platform. This agreement affects your rights and will have a substantial impact on how disputes between you and Hibit are resolved. Each time you use the website, the Platform, or any other product or service, this agreement, as it then reads, governs your use. Please check the date of the Terms posted on the website and review it for any changes made since the last version you read.

When a user purchases/sells cryptocurrency on the Hibit platform it is considered a
crypto contract. A crypto contract imposes rights and obligations on Hibit and each client. Those rights and obligations are contained in the Relationship Disclosure
Document provided at account opening. Hibit is a registered Restricted Dealer in all provinces and territories in Canada, and is subject to the terms and conditions set forth in the decision document found here- https://www.bcsc.bc.ca/securities-law/law-and-policy/exemption-orders—-2002-to-present/s7sbs6sas7s1s7s7s6s3s7sds7s0

By using the Services, you agree to these “Terms of Service” (the “Agreement”)
and our Privacy Policy. We regularly update and modify the Platform. You agree that we may change the operation of the Platform in our sole discretion, at any time and without giving notice. We may also modify the Terms of Service and the Privacy Policy at any time. We will notify you on the Platform or via email of any material amendments, and the date of the last update will appear at the top of this Agreement. Your continued use of the Service after the “Last Updated” date on any of these agreements will constitute your acceptance of and agreement to the changes. If you are not willing and able to comply with this Agreement (or as amended), you may not use the Service.

2. Definitions
The following definitions apply to these Terms:
“Account” means a user account for the Platform that provides access to the Services and stores the user’s personal information.
“Crypto Asset” means a digital asset, virtual currency or cryptocurrency, including but not limited to Bitcoin, Ethereum.
“Platform” means our proprietary internet-based order-execution-only platform for trading Crypto Assets, including the Hibit’s website: www.hibit.ca, web app and mobile application.
“AML”: means Anti-Money Laundering, a set of laws, regulations, and procedures designed to prevent criminals from disguising illegally obtained funds as legitimate income.
“KYC”: means Know Your Customer, a process of verifying the identity, suitability, and risks involved with maintaining a business relationship with a customer.
“Affiliate” means a user who has generated an affiliate link and use the affiliate link to refer new users to Hibit’s platform
“Affiliate Customer” means a user of the Platform who opens an account after being referred through an affiliate link.
“Affiliate Link” means the exclusive tracking link generated through the website that an affiliate may place on their website, share with potential customers, or promote through other channels.
3. Eligibility
To use our Services, you must:
• Be at least 18 years old and have the legal capacity to enter a contract.
• Be a citizen or permanent resident of Canada where the use of our Services is legal.
• Comply with all applicable laws and regulations.
• Complete our account verification procedures including know-your-customer (KYC) and Questionnaire for account appropriateness.
• Have not previously been suspended or removed from the Platform.
You represent and warrant that you have the legal capacity to form a binding contract with us and agree to comply with all the terms and conditions set forth in this Agreement.
4. Account Creation and Security
4.1 Account Creation
You must provide accurate, current and complete information when creating an account, including your name, address, email, and any other information we may require.
You agree to update your information promptly if there are any changes to ensure that it remains accurate, current and complete.
4.2 Account Security
You are responsible for maintaining the confidentiality of your account credentials, including your password and verification code (Two-Factor Authentication-2FA). You must notify us immediately of any unauthorized use of your account or any other breach of security.
Except in cases of gross negligence or willful misconduct by Hibit, we are not liable for any loss, damage, or other consequences that may arise from any breach of security or unauthorized access to your account with Hibit, whether such breach or unauthorized access is due to your actions, the actions of third parties, or any other cause.
You are solely responsible for the safety and security of your email account, phone number, instant messaging accounts, or any other electronic accounts that you use to communicate with Hibit or that are linked to your account on the Hibit platform. we are not liable for any loss, damage, or other consequences that may arise from any breach of security or unauthorized access to those accounts or phone number hereinbefore, whether such breach or unauthorized access is due to your actions, the actions of third parties, or any other cause.
Should you become aware of any breach of security or unauthorized access to those accounts or phone number hereinbefore, you must notify us immediately. You agree not to use another user’s account or provide your account credentials to any third party.
We reserve the right to suspend or terminate your account if any information provided during the registration process or thereafter proves to be inaccurate, not current, or incomplete.
4.3 Multiple Accounts
You may only register and maintain one account with the Platform unless expressly permitted by us.
Any additional accounts created without our permission may be terminated.

5. Services Provided
5.1 Trading Services
You can buy, sell, and trade various cryptocurrencies on the Platform. Trading services include real-time market data, trading tools, and order execution. We support various order types, including market orders, limit orders, and stop orders. Each order type has specific characteristics and execution conditions. You are responsible for understanding the functionality and risks associated with each order type before placing an order.
5.2 Wallet Services
Secure storage for your digital assets is provided through our wallet services. You are responsible for any transactions made using your wallet.

6. User Obligations
6.1 Lawful Use
You must use the Platform for lawful purposes only and comply with all applicable laws and regulations. You are responsible for determining whether your use of the Platform is legal in your jurisdiction and for any consequences of your illegal use of the Platform.
You confirm to Hibit that transaction with Hibit does not involve any illegal or unauthorized activities, including but not limited to proceeds of crime, money laundering, terrorist financing, or fraudulent activities. Hibit, in accordance with its Compliance Policy and procedures and through guidance provided by FINTRAC and/or other Regulators, reserves the right to collect information about the Customer and Transaction conducted by Customer.
6.2 Prohibited Activities
You must not use the Platform in a way that could damage, disable, overburden, or impair the Platform or interfere with any other party’s use of the Platform. You must not attempt to gain unauthorized access to the Platform, user accounts, or computer systems or networks connected to the Platform.
6.3 Compliance with Our Policies
You must comply with all of our policies, procedures, and guidelines, including but not limited to our Privacy Policy and AML/KYC policies and procedures. You must not misuse or attempt to misuse our Platform in any way.

7. Fees and Charges
7.1 Fee Schedule
We charge fees for transactions on our Platform. The fee schedule is available at https://disclosures.hibit.ca/en/archives/59 . Fees may include trading fees, withdrawal fees, deposit fees and any other charges associated with the use of our Services.
Fees are subject to change, and we will notify you of any changes via the Platform or email. Continued use of the Platform constitutes acceptance of the updated fees.
7.2 Payment of Fees
All fees are payable at the time of the transaction and will be deducted automatically from your account balance. You are responsible for any fees charged by your bank or payment processor.
7.3 Non-Refundable Fees
All fees are non-refundable unless otherwise stated. In the event of an error, please contact our support team for assistance.

8. Risk Acknowledgement
Users understand that cryptocurrency transactions involve significant risk, including potential substantial losses. Prices can be highly volatile, and users should assess their financial situation and risk tolerance before engaging in transactions.
Hibit is not liable for any losses incurred from using the buy and sell services on the Platform.
Hibit reserves the right, in our sole discretion, to unilaterally cancel a crypto asset trade that deviates three (3) percent or more from the Virtual Asset’s fair market value (as determined by us in our sole discretion
8.1 Market Risks
Cryptocurrency trading involves significant risks, including market volatility, regulatory changes, and cybersecurity threats. Prices can fluctuate widely, and you may lose all of your investment. We do not provide any financial, investment, or legal advice. You are solely responsible for your trading decisions.
8.2 Technological Risks
The use of the Platform involves various technological risks, including but not limited to hardware failures, software failures, and internet connectivity issues. We are not responsible for any losses incurred as a result of technological issues.
8.3 Regulatory Risks
Cryptocurrency trading may be subject to regulatory scrutiny in various jurisdictions. Changes in regulatory policies can impact the legality and use of the Platform and cryptocurrencies in general. It is your responsibility to ensure compliance with all applicable laws and regulations.

9. Deposit and Withdrawal of Fiat Currency (CAD or USD)
9.1 Overview
You have the ability to deposit and withdraw funds in CAD or USD through the Hibit Platform, either via wire transfer or Interac eTransfer (collectively referred to as “funds transfer” in this section). By utilizing any funds transfer feature, you acknowledge and agree to the terms and disclosures outlined in this section. Additionally, your use of the funds transfer feature is subject to the specific disclosures and acknowledgments provided when you initiate a transfer on the Platform.

9.2 Deposit and Withdrawal Limits
Hibit may impose certain minimum and maximum limits on funds deposit and withdrawal. These applicable limits will be specified on the Platform when you request a funds transfer. Upon making your deposit, a mandatory five (5) business day wait period is imposed during which you cannot withdraw the same fiat currency deposited

9.3 Deposit and Withdrawal Fees
Certain fees and charges apply to funds transfer services on the Hibit Platform. The specific fees will be displayed on the Platform, and you accept these fees before proceeding with any funds transfer request. These fees are subject to change at our discretion without prior notice.

9.4 Processing Times
While your deposit may appear in your CAD or USD balance shortly after initiation, please be aware that it can take 1-5 business days, or sometimes longer, for us to confirm the receipt of your deposit with our payment processor or financial institutions. Hibit does not guarantee the exact time frame for completing fiat currency balance update in your account. Please note that deposits may be subject to delays due to compliance checks and other related issues.

9.5 Fiat Holdings
The CAD or USD balance in your account will be held in an account owned by us at our designated financial institution(s). These deposits will be kept separate from Hibit’s corporate funds and will not be used for our operating expenses or any other corporate purposes. Customers acknowledge and agree that any fiat funds or crypto assets transferred to Hibit shall not accrue any interest, regardless of the duration they are held by Hibit. This includes, but is not limited to, periods during which the funds or assets are on hold, frozen, or otherwise restricted in accordance with Hibit’s policies or procedures, including those arising from investigations or compliance measures.

10. Deposit and Withdrawal of Crypto Assets
10.1 Using the Platform for Crypto Asset Transfers
You can use the Hibit Platform to initiate transfers of the crypto assets held in your Hibit account to another wallet or to transfer crypto assets from another wallet into your Hibit account. We charge fees for crypto asset withdrawals as indicated on the Platform at the time of transaction. These fees may vary depending on the specific crypto asset and are subject to change at our discretion without prior notice. Hibit may impose certain minimum and maximum limits on deposit and withdrawal of crypto assets. These applicable limits vary depending on the specific crypto asset and are subject to change at our discretion without prior notice, and will be specified on the Platform when you request deposit or withdrawal of crypto asset.

10.2 Crypto Asset Deposits
You can deposit crypto assets into your Hibit account by initiating a transfer from an external wallet. Once a crypto asset deposit is properly initiated, it cannot be reversed. It is your responsibility to ensure the accurate execution of the deposit. Hibit is not responsible for any crypto asset until it has been successfully deposited into the wallet address provided to you and confirmed by the relevant blockchain record. We are not liable for any delays or losses associated with a crypto asset deposit and are not obligated to provide assistance with unsuccessful deposits. Please note that crypto asset deposits may be subject to delays due to compliance checks and other related issues. Upon making your deposit, a mandatory five (5) business day wait period is imposed during which you cannot withdraw the same crypto asset deposited

10.3 Crypto Asset Withdrawals
Withdrawals of crypto asset from your Hibit account to an external wallet are executed based on your instructions submitted via the Platform. Once a withdrawal is broadcast to a crypto asset network, it cannot be reversed. You are solely responsible for ensuring that the withdrawal is made to the correct wallet address. Hibit assumes NO liability whatsoever for the consequences or losses arising from any subsequent transfer, trades or investment activities incurred on the crypto asset you withdraw from Hibit

10.4 Crypto Asset Deposit and Withdrawal Limits
Hibit imposes certain minimum and maximum limits on Crypt Asset deposit and/or withdrawal. These applicable limits will be specified on the Platform when you request a crypto asset deposit or withdrawal.

10.5 Processing Time
Crypto asset transfers require processing time that can vary significantly, depending on the specific crypto asset’s network and other factors such as latency, network congestion, and disruptions beyond our control.

10.6 Right to Delay or Modify Withdrawal
Hibit reserves the right to delay, modify, prohibit, or reverse, in whole or in part, any requested withdrawal under certain circumstances, including but not limited to:
(a) Further identity confirmation or additional information may be required for security or compliance reasons
(b) Suspected fraudulent activity, violation of the Terms of Service
(c) Issues with the wallet address,
(d) Compliance with legal requirements or responses to subpoenas, court orders, or other government orders.
(e) Insufficient account balance to cover transfer fees

10.7 Holding Period for Purchased Crypto Assets
Crypto assets purchased by customers on the Hibit platform will be held on the platform for a minimum of 2 business days before they can be withdrawn. This holding period applies to all crypto assets, regardless of the payment method used for the purchase.
Customers will not be able to initiate withdrawals of purchased crypto assets from their accounts during the holding period. Any attempts to withdraw the assets during this period will be denied.

11. Crypto Asset Storage
Hibit does not directly manage or hold the crypto assets in your Hibit account. Instead, we rely on trusted third-party custodial services, including Tetra Trust Company, Inc. (“Tetra”) and Fireblocks Inc. (“Fireblocks, Inc.”), to securely store any crypto assets you transfer to your Hibit account or purchase through our Platform.
You authorize Hibit to hold your crypto assets, whether acquired on the Platform or deposited into your account. These assets may be pooled together with the crypto assets of other users in ominibus accounts or wallets. The crypto assets in your Hibit account are held in trust for your exclusive benefit as the account owner.

12. Technology of the crypto assets
We do not own or control, and make no representations or warranties regarding, the underlying technology of the crypto assets you may purchase or sell using our Services, including the technologies that govern their use. Generally, the underlying protocols are open source, allowing anyone to use, copy, modify, and distribute them. These protocols are subject to sudden changes in operating rules (“Forks”) that can materially affect the value and function of the crypto assets. By using our platform, you accept the risks associated with Forks and other operational changes to crypto assets available through the platform.

13. Purchase and Sale of Crypto Assets
Purchases or sales of crypto assets via Hibit are governed by the following terms:
13.1 Placing Orders
Users can place an order (each, an “Order”) to buy or sell crypto assets through Hibit’s platform. Before placing an Order, you must ensure that you have sufficient funds or crypto assets in your account to fulfill the Order. Placing an Order without adequate funds or crypto assets may result in the cancellation of the Order. All Orders accepted by Hibit are valid until executed or cancelled.
13.2 Execution and Confirmation
Hibit makes commercially reasonable efforts to execute orders placed by customers. However, orders submitted and accepted by Hibit cannot guarantee execution due to various factors, including but not limited to market volatility, technical issues, network connection problems, and fiat currency or crypto assets availability. Hibit assumes no liability for the failure to execute orders submitted by you. All orders are placed by you directly on the Platform. Every order placed on the Platform is executed on a best execution basis. We do not provide any investment advice or recommendations. No orders placed by you are reviewed by us for suitability. All buy and sell orders are deemed to be final and are not reversible. We accept no liability or responsibility for any incorrect order entered by you.
13.3 Order Accuracy and Errors
Hibit is not liable for losses resulting from mistyped or incorrectly placed Orders. Users can cancel an open Order at any time, but Hibit cannot guarantee cancellation before execution. In the event of a technical issue causing an executed Order to not reflect the fair market value, Hibit reserves the right to cancel the Order and refund the amount paid.
13.4 Investment Limits
Hibit adheres to Applicable Laws and Regulations to enforce investment limits on accounts in certain jurisdictions. These limits are based on your investor category and calculated annually on a net basis. If a systems issue or error results in a trade that exceeds your investment limit, Hibit reserves the right to adjust the order to comply with the limit and credit your account for any balance.
13.5 Utilization of Liquidity Providers
Hibit leverages third-party liquidity providers to execute buy and sell orders. We obtain private transaction prices from these providers, incorporate a spread, and present the final buy or sell price on the Platform.
13.6 Transaction Fee and Spread
Hibit charges fees for executing customer buy and sell orders. These fees, calculated as a percentage of the total amount of the executed order, will be charged against the customer’s account at the time of the transaction. The fee schedule can be found at https://disclosures.hibit.ca/en/archives/59 and is subject to change at the discretion of Hibit. By using Hibit’s platform, you agree to these fees and understand that they will be automatically deducted from your account.
To offset the fees paid to our liquidity providers, Hibit may add a spread on top of the price received from the liquidity providers. This means that the price you see on the Platform may include an additional margin, which could be in the form of a markup (in case of a purchase by you) or markdown (in case of a sale by you). Users acknowledge and agree that this spread is part of the cost of using Hibit’s services and is factored into the prices for transaction.
13.7 Fund Availability
When placing an order to purchase crypto assets, you commit to providing the agreed amount in CAD or USD. For selling crypto assets, you commit to delivering the agreed amount of crypto assets from your account. For purchases, your account must have sufficient CAD or USD to cover the crypto asset price and transaction fee. For sales, your crypto asset balance must cover the sale amount and the transaction fee.
14. Availability of Crypto Assets
The listing of crypto assets on Hibit’s platform is at the sole discretion of Hibit and may be removed or discontinued at any time. If a crypto asset is delisted or support is discontinued, all open Orders will be cancelled, and the corresponding amounts will be credited back to your account.
In the event of a crypto asset removal from the Platform, and if the applicable blockchain permits, you will receive a Thirty (30) days notification that Hibit will discontinue support for a crypto asset and you are advised to withdraw any remaining holdings of the discontinued crypto asset from your account. After fourteen (14) days of the notification, you will no longer be able to trade or deposit the crypto asset. Failure to do so within this timeframe may result in Hibit liquidating the crypto asset and crediting your account with fiat currency.
Hibit may, at its sole discretion, shorten or extend the withdrawal period for reasons including but not limited to cybersecurity concerns, legal or regulatory risks, or changes in operational costs associated with maintaining the crypto asset on the Platform. Hibit assumes no liability for any costs or losses incurred due to the removal or discontinuation of a crypto asset. Any crypto assets left in your account after the designated withdrawal period may be forfeited in accordance with applicable laws regarding unclaimed assets.
We will attempt to provide you with 30 days’ notice before withdrawing support for a crypto asset, but may act without advance notice if deemed necessary due to regulatory changes, alterations in the asset’s rules and protocols, compliance issues, our market evaluations, or concerns regarding the asset’s reliability and reputation.
In the event of changes in crypto asset rules and protocols, such as a “Fork” or “Airdrop,” Hibit reserves the right to take any measures deemed reasonable to ensure the security and integrity of the Platform without prior notice. Decisions regarding the management of airdropped assets, including whether to incorporate, distribute, liquidate, or take no action, will be made at our sole discretion. We may charge fees for processing airdrops. You acknowledge the risks associated with airdrops and similar events and agree that ownership of a crypto asset on the Platform does not automatically entitle you to any airdropped assets.

15. Digital Communication and Digital Delivery of Documents
By using the Hibit Platform and Services, you consent to receive all information electronically and agree to the use of digital records and/or signatures throughout our relationship.
The various disclosures, agreements, fee schedules, statements, records, documents, authorizations, and other information that we provide to you, or that you sign or agree to at our request (collectively referred to as “Communications”), may be in the form of digital records (“Digital Records”). Digital Records may be sent to you through the Platform or via email.
To utilize the Platform and receive Digital Records, you must have an active email address on file with us. This ensures you receive all essential Communications promptly and without interruption.

16. Monthly Account Statements
Customers can request monthly account statements detailing their account activities and balance by sending an email to our support team at support@hibit.ca.
The monthly account statement will include:
-Summary of account balances, including fiat currency and cryptocurrency holdings.
-Details of all transactions conducted during the month, including purchases, sales, deposits, and withdrawals.
-Any fees or charges applied to the account during the month.
Upon receiving a request for a monthly account statement, Hibit will process and deliver the statement within 10 business days. Customers will receive the statement via the email address registered with their account.
Customers are responsible for reviewing their monthly account statements for accuracy. If any discrepancies or errors are found, customers must notify Hibit within 10 business days of receiving the statement. Failure to do so may result in the statement being deemed accurate and accepted by the customer.
There is no additional charge for requesting and receiving monthly account statements. This service is provided as part of Hibit’s commitment to transparency and customer service.

17. Regulatory Compliance
Hibit is committed to complying with all applicable laws, regulations, and regulatory requirements. As part of this commitment, we may be required to share customer information with regulatory authorities. We will share customer information with regulators, government agencies, or law enforcement authorities as required by law. This may include, but is not limited to, information related to account activities, transaction details, and personal identification information, financial circumstances, and employment and occupation information.

18. No Customer Disclosure or Consent Required
The sharing of customer information with regulatory authorities does not require prior disclosure to or consent from the customer. By using our services, customers acknowledge and agree that their information may be shared with regulators as part of our legal and regulatory obligations.
The types of information that may be shared with regulators include, but are not limited to:
Personal identification information, such as name, address, and date of birth.
Transaction details, including purchases, sales, deposits, and withdrawals.
Account activity records and balances. Any other information deemed necessary to comply with legal and regulatory requirements. Information shared with regulators will be handled in accordance with applicable data protection laws and regulations.

19. Use of Liquidity Providers
Hibit uses third-party Liquidity Providers to execute buy and sell orders.
By using the Hibit platform and placing orders for crypto assets, customers consent to the execution of their orders through third-party liquidity providers. Customers acknowledge that the execution of orders through liquidity providers is subject to market risks and conditions beyond our control.
19.1 Order Book Data
Here is a detailed clause for the use of third-party liquidity providers for order book data, specifying that it may not reflect the market data on the Hibit platform. The order book data displayed on the Hibit platform is sourced from third-party liquidity providers. This data is intended to provide customers with a general sense of market conditions but does not necessarily reflect the actual market data or trading activity on the Hibit platform.
19.2 Reference Purpose Only
Customers should be aware that the order book data sourced from third-party liquidity providers is for reference purposes only. It may not accurately represent the real-time market data on the Hibit platform and should not be solely relied upon for making trading decisions.
19.3 Customer Acknowledgment
By using the Hibit platform, customers acknowledge and accept that the order book data provided is sourced from third-party liquidity providers and may not accurately reflect the market conditions on the Hibit platform. Customers agree to use their own judgment and consider multiple sources of information when making trading decisions.
19.4 Limitation of Liability
Hibit is not liable for any losses or damages resulting from the reliance on third-party order book data displayed on the platform. Customers understand that trading decisions based on reference data are made at their own risk.

20. Trading Chart Data
20.1 Use of Third-Party Sources
The trading charts displayed on the Hibit platform are sourced from third-party providers. These charts are intended to provide customers with a general sense of market trends and conditions but do not necessarily reflect the actual market data or trading activity on the Hibit platform.
20.2 Reference Purpose Only
Customers should be aware that the trading chart data sourced from third-party providers is for reference purposes only. It may not accurately represent the real-time market data on the Hibit platform and should not be solely relied upon for making trading decisions.
20.3 Discrepancies in Market Data
There are discrepancies between the third-party trading chart data displayed on the platform and the actual market data on the Hibit platform. These discrepancies can arise due to differences in data sources, data processing times, and market conditions.
20.4 Customer Acknowledgment
By using the Hibit platform, customers acknowledge and accept that the trading chart data provided is sourced from third-party providers and may not accurately reflect the market conditions on the Hibit platform. Customers agree to use their own judgment and consider multiple sources of information when making trading decisions.
20.5 Limitation of Liability
Hibit is not liable for any losses or damages resulting from the reliance on third-party trading chart data displayed on the platform. Customers understand that trading decisions based on reference data are made at their own risk.

21. No Third-Party Fiat Currency or Crypto Assets Transfers
21.1 Customer-Owned Accounts and Wallets
Customer is responsible for ensuring and confirms to Hibit that fiat currency or crypto assets to be deposited from or withdrawn to account(s) or wallet(s) is owned by the customer. This policy ensures the security and integrity of transactions on the platform.
21.2 No Third-Party Transfers
Customers are not allowed to deposit funds or crypto assets from, or withdraw funds or assets to, third-party accounts or wallets. All transactions must be conducted using accounts or wallets that are owned by the customer.
21.3 Consequences of Violations
Customers who violate this policy may have their accounts with Hibit suspended or terminated, and any associated transactions may be canceled or reversed.

22. Suspicion of illicit Activity
22.1 Suspension or Termination of Account
If Hibit has grounds to suspect that a customer’s account, transaction, or trade activity is potentially involved in any illicit activity, including but not limited to crime, money laundering, terrorist financing, scam, or fraud, Hibit may, at its sole discretion, suspend or terminate the account. This action is taken to protect the integrity of the platform and its users.
22.2 Investigation Process
Upon suspending or terminating the account, Hibit will proceed with an investigation in accordance with its own compliance policy and procedures. This investigation will involve a thorough review of the customer’s account activities and any related transactions or trades.
22.3 Freezing of Funds and Crypto Assets
During the period of investigation, all funds and crypto assets in the customer’s account will be frozen. This means that the customer will not be able to access, withdraw, or transfer any funds or assets until the investigation is concluded and necessary actions are taken.
22.4 Duration of Investigation
The duration of the investigation may vary on a case-by-case basis, depending on the complexity and scope of the suspected illicit activity.
22.5 Customer Notification
Customers will be notified of the suspension or termination of their account and the initiation of an investigation. Hibit will provide updates on the status of the investigation as appropriate and inform the customer of any required actions or additional information needed.
22.6 Conclusion of Investigation
Upon concluding the investigation, Hibit will take the necessary actions based on the findings. This may include reinstating the account, continuing the suspension, permanently terminating the account, or taking legal action if required.
22.7 Limitation of Liability
Hibit is not liable for any losses or damages resulting from the suspension or termination of accounts, freezing of funds or assets, or any actions taken as part of the investigation. Customers acknowledge that these measures are necessary to ensure the security and compliance of the platform.
22.8 Compliance with Legal and Regulatory Requirements
Hibit will conduct all investigations and actions in compliance with applicable legal and regulatory requirements. This may involve cooperating with law enforcement and regulatory authorities as necessary.
23. Limitation of Liability
23.1 Disclaimer of Warranties
Our Services may experience various types of failures and data loss, some of which are beyond our control. This includes, but is not limited to, issues arising from hardware malfunctions, software errors, and other unforeseen technical difficulties. Our Platform is provided “as is” and “as available” without warranties of any kind, either express or implied. We do not warrant that the Platform will be uninterrupted, secure, or error-free.
23.2 Limitation of Damages
We are not liable for any indirect, incidental, special, consequential, or punitive damages, or any loss of profits or revenues, whether incurred directly or indirectly, or any loss of data, use, goodwill, or other intangible losses resulting from (i) your access to or use of or inability to access or use the Platform; (ii) any conduct or content of any third party on the Platform; (iii) any content obtained from the Platform; and (iv) unauthorized access, use, or alteration of your transmissions or content.
23.3 Limitation of Liability
We are not liable for any direct, indirect, incidental, consequential, or punitive damages arising from your use of the Platform.
Our total liability to you for any claims arising from these Terms or your use of the Platform is limited to the amount of fees you have paid us in the past three months.
23.4 Third-Party Products and Services
The third-party products or services may include, but are not limited to, ID verification and sanction check service vendors, hot or cold wallet service provider(s), payment service processor(s), financial institution(s), and software system provider(s).
We do not warrant, endorse, guarantee, or assume responsibility for any product or service offered by a third party. Hibit shall not be liable for damages or losses, direct or indirect, arising from or related to the use of or reliance on any third-party products, services, information, or other materials.
24. Account Termination
24.1 Termination by Us
We reserve the right to suspend or terminate your account and access to the Platform if you violate these Terms, engage in fraudulent or illegal activities, or for any other reason at our sole discretion.
24.2 Termination by You
You may terminate your account at any time by contacting us at support@hibit.ca. Termination of your account does not relieve you of any obligations to pay any accrued fees or charges.
24.3 Effects of Termination
Upon termination, you will remain liable for any outstanding amounts owed to us.
We may retain information associated with your account for regulatory, compliance, or other legitimate business purposes.
25. Dispute Resolution
25.1 Arbitration
Any disputes arising from these Terms will be resolved through binding arbitration in British Columbia of Canada. The laws of British Columbia of Canada will apply.
You and Hibit agree to submit to the personal and exclusive jurisdiction of the courts located within British Columbia of Canada to resolve any dispute not subject to arbitration.
25.2 Waiver of Class Action
You agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated, or representative action.
25.3 Notice of Dispute
You must provide notice to Hibit of any dispute within 30 days of the occurrence of the event giving rise to the dispute. The notice must include your name, account information, and a description of the nature of the dispute.

26. Data Protection
26.1 Data Collection
All personal information collected by us is in accordance with our Privacy Policy. We collect data to verify your identity, detect fraud, and improve our services.
26.2 Data Use
We may use your data to verify your identity, detect fraud, and improve our services. Your personal information will not be shared with any third parties for any other purpose without your consent.
26.3 Data Security
We use industry-standard security measures, including encryption and secure storage solutions, to protect your information. However, we cannot guarantee that unauthorized third parties will never be able to defeat our security measures. You agree to notify us immediately of any breach of security or unauthorized use of your account.

27. Intellectual Property
All content, trademarks, logos, and service marks on the Platform are our property or the property of third parties who have authorized us to use them. You may not use any of these materials without our prior written permission. You may not copy, reproduce, distribute, or create derivative works from any content on the Platform without our prior written permission. We encourage all Affiliates, clients, customers, and partners to comment on the Products and provide suggestions for improving them. All such comments and suggestions will be non-confidential, and we shall own all rights to use and incorporate them into the Products without payment to the Affiliate.
28. Compliance and Reporting
You agree to comply with all applicable laws, rules, and regulations when using the Platform. You are responsible for determining whether your use of the Platform is legal in your jurisdiction and for any consequences of your illegal use of the Platform. You are responsible for reporting and paying all taxes applicable to your transactions on the Platform. We do not provide tax advice, and you should consult with a tax professional to understand your tax obligations.

29. Customer Support
You can reach our customer support team via email at support@hibit.ca. We aim to respond to all inquiries within 1-2 business days. We provide support for account issues, technical problems, and general inquiries about our services. We do not provide financial or investment advice.

30. Affiliate Program
30.1 Participation
Our Affiliate Program allows users to earn commissions by referring new users to our Platform. Commissions are based on the trading fees generated by referred users. Affiliates will earn commissions based on a percentage of the trading fees generated by referred users. The specific percentage rate will be either communicated to Affiliates by email or published on Hibit’s Website. To participate, you must generate an affiliate link and share it with potential customers. Commissions are paid for transactions completed by users who register through your affiliate link.
30.2 Eligibility for Commission
Commissions are not eligible if such compensation is not allowed or limited by either local or federal laws or regulations in the Affiliate’s jurisdiction. Hibit reserves the right to terminate any Affiliate’s participation in the Program at any time, with or without cause. Eligibility for commission generated by referred users is limited to one (1) year from the date the referred user opens an account with Hibit through the affiliate link. After one (1) year, the affiliate is no longer eligible for commissions generated by the referred user.
30.3 Modification of Terms
Hibit reserves the right to modify, change, or suspend the terms and conditions of the Affiliate Program at any time at its sole discretion. The details of the Affiliate Program will be published on Hibit’s website, and any changes will be effective immediately upon posting. Continued participation in the Program after any modifications indicates acceptance of the new terms.
30.4 Taxes
Affiliates are responsible for reporting and paying all taxes applicable to the commissions generated and received through the Affiliate Program.
31. Market and industry Information
The market and industry information displayed on the Platform is sourced from third-party providers and is provided for informational purposes only. We do not guarantee the accuracy, completeness, or timeliness of this information. You are solely responsible for any trading decisions you make based on the market information provided on the Platform.
32. Indemnification
32.1 General Indemnification
You agree to indemnify, defend, and hold harmless Hibit, its affiliates, and their respective officers, directors, employees, agents, and licensors from and against any claims, liabilities, damages, losses, costs, and expenses, including reasonable attorneys’ fees, arising out of or in any way connected with your access to or use of the Platform, your violation of these Terms, or your violation of any rights of any third party.
32.2 Procedure for Indemnification
In the event of a claim, we will notify you promptly of any such claim, action, or proceeding and will assist you, at your expense, in defending any such claim, action, or proceeding. You agree to cooperate fully as required in the defense of any claim. We reserve the right to assume the exclusive defense and control of any matter subject to indemnification by you, and you shall not in any event settle any matter without our prior written consent.
33. Deposit or Transfer Errors, Set-Off, and Account Freezes or Closures
33.1 Adjustments
We may adjust your account balance for any deposit, withdrawal, or error of any Virtual Assets or Fiat Funds.
33.2 Liability for Errors
If you receive any Crypto Asset or Fiat Funds in error, you are liable to return them to us.
33.3 Set-Off
We reserve the right to set off any funds in your account against any obligations you owe to us, including fees, penalties, or other amounts due.
33.4 Account Freezes or Closures
We may freeze or close your account without notice in circumstances including fraud, illegal activity, or violation of these Terms.
34. Disruption or Malfunction
In the event of any verifiable disruption or malfunction, we may nullify or modify transactions to maintain a fair and orderly marketplace.
35. Trade Confirmation
After executing an order, we will provide you with a trade confirmation that includes details of the transaction, such as the price, quantity, and fees. You should review this confirmation carefully and notify us immediately if there are any discrepancies.
36. Third-Party Links and Content
Our services may contain links to third-party websites, services, or materials that are not owned or controlled by us. We are not responsible for any content on third-party websites. Interacting with third-party content is at your own risk.
The Platform may integrate with external services or applications. These integrations are provided for your convenience, and we are not responsible for the performance or security of these external services.
37. Miscellaneous
These Terms constitute the entire agreement between you and Hibit regarding the use of the Platform and supersede any prior agreements between you and Hibit regarding the use of the Platform.
If any provision of these Terms is held to be invalid or unenforceable, such provision will be struck and the remaining provisions will remain in full force and effect.
Our failure to enforce any right or provision of these Terms will not be deemed a waiver of such right or provision.
In the event of a breach, we may seek any legal or equitable remedies available to us, including injunctive relief and specific performance.
You may not assign or transfer these Terms, by operation of law or otherwise, without our prior written consent. Any attempt by you to assign or transfer these Terms without such consent will be null and of no effect. We may assign or transfer these Terms at our sole discretion without restriction.
38. Governing Law
These Terms shall be governed by and construed in accordance with the laws of British Columbia of Canada, without regard to its conflict of law principles. Any disputes arising under or in connection with these Terms shall be subject to the exclusive jurisdiction of the courts of British Columbia of Canada.
39. Force Majeure
We are not liable for any delay or failure to perform any obligation under these Terms where the delay or failure results from any cause beyond our reasonable control, including acts of God, labor disputes, or other industrial disturbances, electrical or power outages, utilities or other telecommunications failures, earthquake, storms or other elements of nature, blockages, embargoes, riots, acts or orders of government, acts of terrorism, or war.