Pintu Web3 Wallet Terms and Condition

A. Availability of Web3 Feature

1. You understand and agree that the Web3 Feature is provided to you as is. To the extent permitted by applicable law we have the right to modify, develop, temporarily suspend, stop providing, and/or delete, either in whole or in part, the Web3 Feature. We will, with our best efforts, notify you of each of the actions mentioned above in accordance with the applicable regulations.
2. Unless otherwise stated in these Web3 T&Cs, to the extent permitted by applicable law, we and our affiliates or service providers make no representations, warranties or promises whatsoever, whether expressed or implied, regarding the performance, availability, reliability, and accuracy of: 1) any software and/or hardware used in connection with the Web3 Feature; 2) every application, website, and/or feature used or accessed by you in relation to your usage of Web3 Feature; and 3) the quality of the telecommunications network used by you to access the Web3 Feature.

B. Description of the Web3 Feature

Web3 Feature comprises of the non-custodial Web3 wallet that can be created and accessed by Users through the Platform (“Web3 Wallet”) which will enable Users to manage their digital assets, be it Crypto Assets (including tokens) and/or Non-Fungible Token (“NFT”) (Crypto Assets and NFT hereinafter referred collectively as “Digital Assets”), by way of storing, sending, receiving, and swap of Crypto Assets on-chain through the Web3 Wallet (collectively, “Transactions”), and monitoring. As an additional feature, Users can also access the decentralized applications operated by third parties (“dApps”) and swap Crypto Assets on-chain through the Web3 Wallet.

The Web3 Wallet that we provide is a non-custodial multi-network wallet which uses multi-party computation technology (“MPC Technology”) that splits the private key into multiple key shares to secure Users’ Digital Assets (“Key Share”). Through the MPC Technology, the Users will be provided with:

1. Robust security as the User’s Web3 Key Share is split into two parts; and
2. Ease and simplify the Web3 Wallet restoration (as may be needed) as the Users can restore their Web3 Wallet by using the Key Share stored in the Users’ cloud back-up.

C. Access to and Usage of the Web3 Feature

1. The Web3 Feature is currently only available and accessible through the Platform for devices with iOS and/or Android and is only able to be utilized by Users who have registered and fulfilled the eligibility requirements as set out by us and Pintu through its Terms and Conditions of Platform.
2. In order to access and use the Web3 Wallet, you must first log in to your Account at Platform through your device; and once logged in, you can access the Web3 Wallet by clicking the Web3 Wallet icon displayed in the Platform.
3. There will be 3 stages that must be completed before you can use the Web3 Wallet, being: (i) the creation of Account at the Platform (please refer to Section E (User Registration) of the Platform’s Terms and Conditions); (ii) the creation of Web3 Wallet, for which, you have to click/tap the corresponding icon; and (iii) once the Web3 Wallet has been created, there will be 2 Key Shares generated being: (a) the 1st Key Shares that will be stored in Our server and (b) the 2nd Key Shares that will be automatically stored in your personal cloud drive (either iCloud or Google Drive).
4. The Web3 Wallet has the following functions:
   1. Browser: the browser function will enable you to connect your selected dApps to the Web3 Wallet, whereby (i) you shall firstly open Web3 Wallet and click on the Browser tab and (ii) visit the dApps of your choice to access, connect, and/or make transactions from it.
   2. Send: the send function will enable you to send the Digital Assets you owned in the Web3 Wallet to any wallet address designated by you. In order to perform this function, you must firstly provide consent by confirming the send transaction on your Web3 Wallet. We, through the Platform, then will also conduct a verification request whereby you must (i) enter the PIN of User’s Web3 Wallet; or (ii) Face ID.
   3. Swap: the swap function will enable you to convert from one Crypto Asset to another Crypto Asset on blockchain.
   4. Receive: the receive function will enable you to receive the Digital Assets from any sender.
   5. Wallet Connect: this function will enable you to connect your selected dApps to the Web3 Wallet, whereby (i) you shall firstly access the dApps through a separate device and then have that dApps’ QR wallet connect displayed on the screen of such device; and (ii) scan the QR by using the Wallet Connect function opened in your other device.
   6. Transaction Preview: We will provide you with a preview page which displays the details of Transaction prior to your confirmation, for example: (i) amount of token that you intend to send; (ii) blockchain network; (iii) blockchain fee; and (iv) recipient’s wallet address.
   7. Web3 Firewall: With the Web3 Firewall, we may flag to you when you are about to interact or confirm any Transactions with suspicious, or risky contracts or platforms.
5. By using the Web3 Feature, you hereby acknowledge and agree that:
   1. You will bear all responsibilities for all actions related to your use of the Web3 Feature. For the avoidance of doubt, this responsibility remains in effect whether the actions are authorized by you, or exercised by you, third parties which include your agents, contractors or representatives. We do not assume responsibility for unauthorized entry into the Web3 Feature or your Web3 Wallet, even if such access results from fraudulent activities, phishing attempts, or other unlawful actions conducted by third parties against you. You are required to ensure that your utilization of the Web3 Feature complies with all relevant laws and regulations;
   2. You may be subject to supplementary terms and conditions, or other applicable policies set forth by the issuer of the Digital Assets, operator of the dApps, operator of the supported protocol, and/or any other relevant third party;
   3. The Web3 Wallet is an early version of the product and not yet fully audited. We are not responsible for any losses you may experience, nor are we under any obligation to compensate or indemnify any lost Digital Assets to you, to the extent permitted by applicable law;
   4. We do not control any blockchain protocol and smart contract and therefore is not liable for any loss caused by the error of the blockchain protocol and/or smart contract;
   5. We are not responsible for any losses resulting from sending Digital Assets to the wrong address(es). You shall ensure your deposit of your Digital Assets are to the right address designated by us to receive your Digital Assets to be transferred to the third party blockchain through your use of the Web3 Feature. You shall provide a correct address of your Web3 Wallet that you use to receive your Digital Assets to be transferred from the third party blockchain through use of the Web3 Feature. We are shall not be liable for any and all losses resulting from your own fault or error, including but not limited to: you provide an incorrect address of your wallet or other address for receiving Digital Assets, or you transferring your assets to a wrong address;
   6. In relation to the Web3 Firewall, it is important for you to be aware that we cannot provide an absolute assurance that our Web3 Firewall will capture all potentially risky transactions. As such, you hereby acknowledge and agree that you shall assume sole responsibility for reviewing and verifying any Transactions you intend to confirm. Additionally, please be mindful that even if the Web3 Firewall identifies a transaction as potentially risky, you retain the discretion to choose whether to proceed with or cancel the Transaction;
   7. In the event that Digital Assets are sent to or received from blockchain/wallet addresses which we deem, at its sole discretion, associated with illicit activities or actions that breaches the terms outlined in this Web3 T&Cs (referred to as “Restricted Address“), we may undertake necessary measures, including but not limited to freeze your Web3 Wallet, decline, and/ or suspend Transactions from your Web3 Wallet. Additionally, steps may be taken to close your account in compliance with the relevant laws. In certain situations, we may also find it essential to report suspected unlawful activities to appropriate law enforcement agencies. You may be required to cooperate with us, Pintu and/or the relevant authorities during the investigation and resolution process of the affected Digital Assets to restore normal and lawful usage of the Web3 Wallet; and
   8. Some explanations/provisions on specific matters (including the specific Digital Assets that can be utilized/supported by Web3 Wallet) may be provided directly on the Platform and/or any other publications from us, and therefore, you agree to also be bound by such explanations/provisions and in case where those are in discrepancy with these Web3 T&Cs, those provided on the Platform and/or publications shall apply.

D. Users’ Obligations and Restrictions

1. You further agree to protect and keep secure the Web3 Wallet, as well as be accountable for any disclosure or use of your Web3 Wallet. In the event where you become aware, or there’s a reason to suspect that the confidentiality of your Web3 Wallet has been compromised or if there’s any unauthorized use of your Web3 Wallet, you must immediately: a) change your login credentials; and b) notify us and allow us to disable your Web3 Wallet for further investigation.
2. For the avoidance of doubt, you are prohibited from revealing your security details or password to your Web3 Wallet to us or any other party, irrespective of the circumstances or by whatever means. Failure to comply with this prohibition will result in your complete responsibility and accountability for all Transactions conducted through your Web3 Wallet, whether with or without your knowledge and consent. To note, we will be unable to void, reverse, or refund any money from the transaction in which the security code to your Web3 Wallet has been used, whether by yourself or a third party with access to it.
3. We will always assume and consider that any usage on behalf of your Web3 Wallet is carried out by you, and we reserve the right to conclude that such usage or activity is done or initiated by you. We will not assume liability for any losses or damages arising from your failure to safeguard your account information.
4. You hereby acknowledge and agree that all relevant intellectual property rights (whether registered or not registered) are owned by us and/or the relevant third party, and you shall not, in any way, infringe upon usand/or any third party’s copyrights, trademark rights, and other intellectual property rights or legal rights and interests.
5. In your use of the Web3 Feature, we may be required to establish and verify your identity, or the identity of any relevant beneficial owner pursuant to applicable laws, regulations, notices and guidelines. We may therefore, require you to provide your identification documents or collect your personal information for this purpose. You hereby acknowledge that we may collect such data on request, and use such data provided for the purposes of establishing your identity and implementing an ongoing monitoring program to ensure the adherence of us and you to the applicable laws, regulations, notices and guidelines, together with sharing such data internally with its affiliates and with its relevant and authorized third-parties, as well as in relation to transfers and reporting of such data and your Transactions to the relevant authority, and such other government or regulatory authority as we may deem appropriate or as may be required under any applicable laws, regulations, notices and/or guidelines.

E. Notice of Risks

You acknowledge and agree that the use of Web3 Feature inherently involves certain risks. These risks include, but are not limited to, the followings:

1. Third Party Risks
   1. Certain third-party services or dApps may require your acceptance of contracts or agreements governed by their distinct terms and conditions. These contractual agreements may encompass clauses pertaining to data sharing, financial commitments, and mechanisms for dispute resolution. Prior to engaging with third-party services, it is imperative that you diligently review and comprehend the contractual terms to ensure strict adherence. We also recommend that you seek legal advisors to assist you as may be necessary.
   2. The use of third-party services, dApps, or blockchain protocols alongside your Web3 Wallet may expose you to additional risks. These third-party services operate independently and their security, reliability and compliance with applicable regulations may vary. You are responsible for evaluating risks associated with third party services, as well as comprehend the respective terms of use and privacy policies. For the avoidance of doubt, the actions or policies of the third-party service are beyond our control, and we hereby expressly state that we do not and will not assume responsibility for any losses or disputes arising from your interactions with third-party services.
2. Smart Contract Risks

Web3 Wallet frequently engages with smart contracts, which constitute self-executing code deployed on blockchain networks. Although smart contracts are designed to operate autonomously, they remain susceptible to errors, vulnerabilities, and unanticipated scenarios. A flawed and compromised smart contract can potentially yield in unexpected consequences, financial losses, or locked funds. It is vital that you carefully review and verify the functionality and security of any smart contracts you engage within, and be aware that you bear the risks and responsibility associated with your engagement with the smart contracts.

3. Phishing or Scam Risks

There are risks where phishing websites, deceptive dApps, and/or fraudulent schemes will seek to deceive you into revealing your sensitive information relating to your Web3 Wallet. We do not have full control over possible phishing or scams. However, we, with our best commercially feasible effort, will attempt to prevent any phishing and/or scams measures within the Web3 Feature. Regardless of the latter, you are responsible to always be cautious in using the Web3 Feature.

4. Risk of Significant Fluctuation over Crypto Assets’ Value and No Guarantee of Profit

The value of Digital Assets can change, either increasing or decreasing, significantly from time to time. We hereby expressly state that we do not provide the guarantee and are not responsible to you for any returns of investments on your Digital Assets investment.  For the avoidance of doubt, risks resulting from buying, selling, holding, and/or investing in any Crypto Asset are not the responsibility of Pintu but are your responsibility.

In connection with the above disclosure, we strongly recommend that you first learn about Crypto Asset trading so that you truly understand the risks of Crypto Asset trading activities. You are expected to always be careful and measure your financial condition as proper as possible before trading Crypto Assets.

5. Pintu Does Not Provide Tax, Regulatory, or Legal Advice

Any Transactions performed through your Web3 Wallet may have tax implications. It is your sole responsibility to report and pay any applicable taxes on your Digital Assets and Transactions according to the applicable tax laws where your tax obligations are registered. You are also responsible for any tax risks that may arise in connection with your Transactions.  If you have any doubts about your tax status or obligations when using the Web3 Services, or regarding Crypto Assets held in your Pintu account, you are advised to seek independent advice.

You acknowledge and agree that, if required by applicable law, Pintu will report information related to your transactions, transfers, distributions or payments to tax authorities or other public authorities. Additionally, if required by the applicable law, Pintu will withhold taxes related to your transactions, transfers, distributions or payments, including if there is an obligation for Pintu to ask you to provide additional information related to taxes, status, certificates, documentation or other information. You are advised to seek professional and personal tax advice in this regard before undertaking any transaction.

6. No Guarantee of Exact Timing

You understand and agree that when you redeem or access your Digital Assets, the time it actually takes for you to receive the Digital Assets in your Web3 Wallet may vary, and the Digital Assets received and displayed on the Web3 Wallet shall be final. We are not liable for any losses as a result of the aforementioned.

7. Key Shares

Key Shares govern the security of Web3 Wallet, and the loss of Key Shares would mean the loss of access to the Web3 Wallet forever. You are responsible for keeping, protecting and safeguarding your Key Shares that have been provided or that are generated in connection with your use of the Web3 Feature. We are not responsible for your Key Shares in any manner. If you lose your Key Shares, you will not be able to access your Web3 Wallet, and you may permanently lose any and all access to any Digital Assets or other funds that you may have stored in your Web3 Wallet. You understand and agree that you shall solely bear any and all losses that may arise from the loss or your inability to use your Key Shares.

8. Risks of Availability

Pintu is committed to providing you with smooth and uninterrupted services, however, Pintu cannot guarantee that the services will be available at any particular time or that these services will not experience unplanned interruptions or obstacles. In the event of such disruption and/or obstacles, there is a risk that the Service will not be available and there is a possibility that you will not be able to conduct activities as mentioned in the Section C of this Web3 T&Cs.

9. Pintu Does Not Provide Personal Advice

We do not provide personal advice to you regarding Web3 Services. We can provide factual information, information about transaction procedures, and information about potential risks. However, the decision to use Web3 services is entirely your own decision. Any communication or information provided to you by Pintu is not intended, deemed, or interpreted as investment advice, financial advice, trading advice, or any other form of advice. You are solely responsible for determining whether an investment, investment strategy or related transaction is appropriate to your personal investment objectives, financial circumstances and risk tolerance.

F. Implementation of the Anti-Money Laundering and Prevention of Terrorism Funding and Proliferation of Weapons of Mass Destructions

As required by the applicable laws and regulations, We and Pintu implement the Anti-Money Laundering and Prevention of the Financing of Terrorism program as well as the Proliferation of Weapons of Mass Destruction. In this regard, We or Pintu may suspend, delay and/or refuse any Web3 Wallet registration/application and/or any Transaction made by you if there is an indication of a violation by you of these matters. You hereby understand, acknowledge and agree that you will not raise any objection in connection with the actions that we or Pintu takes related to the implementation of the program (including requests for further information in connection with a Transaction, through the Customer Due Diligence and/or Enhanced Due Diligence process).

G. Representation, Warranties, and Undertakings

Without prejudice to other representations, warranties and undertakings that have been provided in these Terms and Conditions, you represent, guarantee and undertake that:

1. Any data and/or information that you provide to us is correct, original, complete and factual. You understand and agree that you will be absolutely responsible for any such data;
2. You will not impersonate any individual or entity, or falsely state your association with any individual or entity;
3. You represent and guarantee that you will use the Service in good faith and will not carry out any actions prohibited under applicable laws and regulations, including but not limited to money laundering and/or financing terrorism, funding the proliferation of weapons of mass destruction, violations of the Rights Intellectual Property, unlawful use of personal information belonging to other third parties, gambling activities and/or other activities prohibited under applicable laws and regulations;
4. You are not included in the List of Suspected Terrorists and Terrorist Organizations and the List of Funding for the Proliferation of Weapons of Mass Destruction, as published by the any relevant authority, including but not limited to the Center for Financial Reporting and Analysis and government or authorized organizations in other jurisdictions as relevant;
5. You are not included in the Sanctions List, including but not limited to the UN Sanction List, OFAC, and EU Commission;
6. You are not a United States citizen, not born in the United States, not a United States green card holder, not transacting with a banking account or other financial services institution created in the United States, have no tax obligations in the United States, and do not represent or acting for and on behalf of other parties who are United States citizens;
7. You will not do anything that could have a bad impact on us and our affiliates, shareholders, directors, board of commissioners, employees and/or agents, including but not limited to defamation and violation of our Intellectual Property Rights;
8. You will not use the Web3 Feature in any way that could disrupt, interfere with, negatively influence or inhibit other users from using the Web3 Feature, or that could damage, disable or interfere with the functionality and operation of the Platform;
9. You will not use or upload any material or software that contains viruses, malicious code or dangerous components that can interfere with and/or damage data on the Platform, and/or disrupt and/or damage the operation of the Web3 Feature, Platform, computer or devices belonging to other users; and
10. You will not do anything that aims to trick or deceive us, traders, investors or any party in the Crypto Asset trading ecosystem in a way designed to create, influence, manipulate or mislead trading conditions, market conditions or price of a particular Crypto Asset.

Users represent, guarantee and promise to us that all information and statements mentioned above are true, correct and accurate and will continue to be true, correct and accurate during your use of the Web3 Feature. These representations and warranties will be deemed to be repeated whenever you give us an order, enter into any transaction or create any account on the Platform.

H. Service Fees

The fees applicable in relation to your use of the Web3 Feature are as follows:

1. Gas Fees

During the course of your access and use of the Web3 Feature, you may incur various gas fees. Gas fees generated on any third-party platform under these Web 3 Features will be paid by you.

2. Third Party Protocol Fees

There may also be other third-party protocol fees that arise during your access and use of the Web3 Feature, including but not limited to your transfer of Digital Assets, NFTs and/or other digital collectibles. You are solely responsible for paying any and all of these third-party protocol fees that may arise.

I. Taxes

You agree that:

1. These Web3 T&Cs shall be subject to all prevailing statutory taxes, duties, fees, charges and/or costs, however denominated, as may be in force and in connection with any future taxes that may be introduced at any point of time;
2. If any obligation arises and is applicable, you have to use your best efforts to do everything necessary and required by the relevant laws to enable, assist and/or defend us and/or Pintu to claim or verify any input tax credit, set off, rebate or refund in respect of any taxes paid or payable in connection with the Web3 Feature under these Web3 T&Cs; and
3. You agree that details of your Web3 Wallet account and all transactions thereunder may be provided on request to any tax authorities either in the British Virgin Islands or overseas where the purpose of such request is the lawful payment of tax obligations and/or the identification of assets for taxation.

J. Language (For Indonesian Users Only)

These Web3 T&Cs are prepared and provided in the versions of English and Indonesian languages and both versions are validly applicable and binding against you. In the event of any inconsistency between the English language text and the Indonesian language text, or if there should be any dispute on the meaning or interpretation of certain provisions, you hereby agree that the English language text shall prevail and the Indonesian language text will be deemed to be automatically amended to conform with and to make the relevant Indonesian language text consistent with the relevant English language text.

K. Entirety

These Web3 T&Cs together with the (i) Terms and Conditions of Platform; and (ii) Privacy Policy together with  any of its future amendments and additions as we may notify you from time to time  through the Platform, and other applicable policies, as well as any other documents referred to herein or therein relating to the subject matter hereto shall constitute the entire agreement between you and us in relation to the subject matter hereof. You hereby agree that every provision in such Terms and Conditions and policies and is not otherwise defined herein will also be applicable, as relevant and applicable, for these Web3 T&Cs, including but not limited to the provision pertaining to Indemnification and Limitation of Liability, Intellectual Property Rights, Force Majeure, Customer Complaint Service and Notices, Information Security and Privacy Policy, Governing Law and Dispute Settlement, and Other Provisions section of the Terms and Conditions of Platform.