Tesseract Earn Account – Terms & Conditions
INTRODUCTION
Our crypto earn account (“Tesseract Earn Account”) is a crypto depository account that allows you to earn yield paid in the form of digital assets on the eligible cryptocurrency held in your account. Please read and keep these Tesseract Earn Account Terms (“Tesseract Earn Terms”).
OUR RELATIONSHIP
In these Tesseract Earn Terms, holders of a Tesseract Earn Account are sometimes referred to as “you” or “your”.
The provider of the Tesseract Earn Account, Tesseract UK Access I Ltd is referred to as “Tesseract”, “we”, “us”, or “our” in these Tesseract Earn Terms. Together, you and we may be collectively referred to as “Parties”.
The provider of the website or application through which the Tesseract Earn Account is offered to you, (1) Qovex Europe S.A., with its registered address at 40, avenue Monterey, L-2163 Luxembourg, Grand Duchy of Luxembourg or (2) Qovex Global Ltd., with its registered address at Floor 4, Banco Popular Building, Road Town, Tortola VG1110, British Virgin Islands or (3) Qovex Ltd, with its registered address at 1300 E 9TH ST STE 1205 CLEVELAND OH 44114, EC4A 3TW London, , is referred to as “Qovex” whereby Qovex in each case refers to the Qovex entity of which you are the customer of. The website or application through which the Qovex digital asset exchange services are made available, controlled, managed and maintained, or any updated versions or any other trading platform that Qovex may introduce, in the context of providing its customers with online digital asset trading services is referred to as “Qovex Platform”. Your account opened at Qovex from which assets will be deployed via Qovex Platform to Tesseract Earn Account is hereinafter referred to as “Qovex Account”. Qovex Terms, which you have to accept to use Tesseract Earn Account are hereinafter referred to as “Qovex Earn Terms”.
ACCEPTANCE OF TERMS
By opening a Tesseract Earn Account, you agree that the terms and conditions contained herein will govern your Tesseract Earn Account, as modified from time to time. We reserve the right to update these Tesseract Earn Terms at any time, and notify you of such changes by Qovex providing notice of such changes, such as by sending you an email, providing notice through the Qovex Platform, or updating these Tesseract Earn Terms referred in Qovex Earn Terms published on Qovex website.
1. Opening a Tesseract Earn Account
1.1. Anyone residing in a jurisdiction where we offer a Tesseract Earn Account and who is at least eighteen (18) years old can apply to open a Tesseract Earn Account. Tesseract Earn Accounts can be opened via Qovex Platform. The foregoing applies to legal entities validly organized and existing under such jurisdiction where Tesseract Earn Accounts are being offered.
1.2. In order to open a Tesseract Earn Account, you will have to be a verified client of Qovex. To help governments fight the funding of terrorism and money laundering (“AML/CFT”) activities, applicable laws require us to obtain, verify, and record information that identifies each person or entity that opens an account (“KYC information”).
1.3. You hereby represent and warrant that you have authorized Qovex to provide us any and all KYC information that may be required by us pursuant to applicable laws and regulations, and that all such KYC information provided to us by Qovex on your behalf pursuant to these Tesseract Earn 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. Note that we may use credit reports or other information from third parties to help us determine if we should open or maintain your account. You acknowledge that in order for us to be able to provide the Tesseract Earn Account to you as described herein, we may be required to obtain additional information from you (i) before opening your Tesseract Earn Account or (ii) at any time while you are a client of Tesseract. All information and data collection and transfer of such information and data to Tesseract is carried out by Qovex, for which you represent and warrant that you have authorized Qovex to carry out on your behalf. For information on the processing of your personal data by Tesseract, please refer to our privacy notice at https://tesseractinvestment.com/privacy-notice/.
1.4. Tesseract Earn Accounts are only for verified clients of Qovex, and are not available for clients from Afghanistan, Belarus, Burma, Burundi, Central African Republic, China, Crimea (region), Cuba, Democratic Republic of the Congo, Iran, Iraq, Lebanon, Libya, Mali, Nicaragua, Non-government-controlled areas of the Donetsk and Luhansk oblasts of Ukraine (regions), North Korea, Russia, Somalia, Sudan, South Sudan, Syria, United States of America, Venezuela, Yemen or Zimbabwe. Tesseract Earn Accounts are not available in the jurisdictions which we determine we would not be able to or choose not to offer Tesseract Earn Accounts. Due to the dynamic nature of regulatory requirements and interpretations in the cryptocurrency market, we reserve the right to update the list of prohibited jurisdictions and reject applications to open accounts that we determine we would be unable to accept for regulatory or policy reasons in our sole and absolute discretion.
1.5. Your account is not deemed to be opened, and we have no responsibility to you unless and until we inform Qovex that your account has been opened. Following the account opening confirmation, Qovex will give you access to your Tesseract Earn Account (via Qovex Platform) and fund your Tesseract Earn Account with cryptocurrency you deposit to it (via Qovex Platform) as set forth in Section 2 of these Tesseract Earn Terms. We do not need to accept an application from you, and we reserve the right not to open an account in our sole and absolute discretion.
2. Funding your Tesseract Earn Account
2.1. You can fund your Tesseract Earn Account by transferring eligible cryptocurrency to your Tesseract Earn Account via Qovex Platform.
2.2. The transfer of such eligible cryptocurrency to your Tesseract Earn Account may not be deemed settled and completed until the transaction has met the specific protocol for a relevant cryptocurrency that Tesseract has defined.
2.3. As of the date of these Tesseract Earn Terms, there is no minimum deposit amount required by Tesseract to open a Tesseract Earn Account. Qovex may, however, impose a minimum deposit requirement. Tesseract may, in its sole discretion, institute a minimum balance in the future, and such minimum balance will apply to your Tesseract Earn Account. Once your Tesseract Earn Account has been opened and funded, Tesseract may require, in addition to the other terms set between Tesseract and you, up to seven (7) calendar days’ notice before your complete or partial withdrawal of the eligible crypto in your Tesseract Earn Account.
3. How Yield Is Calculated
3.1. Yield on the Tesseract Earn Account is variable. The yield rates are made available to you on Qovex Platform. Changes to yield rates will be posted to the Qovex Platform or messaged to you (via Qovex) before changes are made. Our yield rate may be tiered, with specified rates in effect at any time only applied to specified portions of amounts in a Tesseract Earn Account.
3.2. We use a simple annual percentage yield (APY) method to calculate the yield on your Tesseract Earn Account. APY is the real rate of return earned on a deposit taking into account the effect of daily compounding yield. We and Qovex will determine the yield rates and tiers in our sole discretion, and you acknowledge that your Tesseract Earn Account is not a bank deposit account, and such rates may not be equivalent to benchmark yield rates observed in the market for bank deposit accounts.
4. How Yield Is Paid
4.1. We will credit your Tesseract Earn Account with the yield earned daily. The yield corresponding to your Tesseract Earn Account will be distributed to Qovex on periodic basis. Qovex will credit yield to your Qovex Account in accordance with Qovex Earn Terms.
4.2. All yield will be paid in cryptocurrency you funded to your Tesseract Earn Account. The accrued yield will be calculated and paid to the one hundred millionth of the relevant unit of cryptocurrency. Any digits beyond that will be truncated; balances and yield payments on account statements will be truncated to eight decimal digits (one hundred millionth of a unit).
5. Withdrawals
5.1. You may make a complete or partial withdrawal of principal from your Tesseract Earn Account via Qovex Platform in accordance with these Tesseract Earn Terms and Qovex Earn Terms. Additionally, before a withdrawal is processed, you may be required in case of regulatory requirements demanding such action, to provide certain personally identifiable information so Tesseract or Qovex can verify your identity.
5.2. Withdrawals will be made to your Qovex Account. In the withdrawal process, Tesseract agrees to pay the yield that has accrued to the withdrawable principal in your Tesseract Earn Account (via Qovex) to your Qovex Account.
5.3. As of the date of these Tesseract Earn Terms, there are no withdrawal limits or transaction fees applicable to your Tesseract Earn Account. However, we may (in our sole discretion) institute withdrawal limits based on frequency and possible transaction fees, which may apply from time to time and will be described, if applicable, in these Tesseract Earn Terms.
5.4. Tesseract and any of our partners or other third parties may experience cyber-attacks, extreme market conditions, or other operational or technical difficulties, which could result in the immediate halt of transfers and withdrawals of cryptocurrency either temporarily or permanently. Tesseract is not and will not be responsible or liable for any loss or damage of any sort incurred by you as a result of such cyber-attacks, operational or technical difficulties or suspensions of transfers or withdrawals.
6. Taxes
6.1. You are able to see a record of the transactions related to your Tesseract Earn Account via Qovex Platform which you may wish to use for the purposes of making any required tax filings or payments. 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.
6.2. We or Qovex will make any tax withholdings or filings that we or Qovex 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. You are responsible for complying with all applicable laws. You agree that Tesseract or Qovex is not responsible for determining whether or which laws may apply to your transactions, including tax law. You are solely responsible for reporting and paying any taxes, as well as ensuring that the reported information to applicable tax authorities arising from your Tesseract Earn Account is true and correct.
7. Ownership of Cryptocurrency and Use of Assets
7.1. You acknowledge and agree that when Tesseract receives any cryptocurrency from you (or from Qovex on your behalf) deposited to the Tesseract Earn Account, such assets shall be considered to be lent by you to Tesseract, and full ownership of such cryptocurrencies is transferred to Tesseract on a title transfer basis. You agree that the loan shall be made on a non-recourse and non-secured basis and acknowledge that no guarantee of us being able to repay the loan or any yield in connection with the loaned assets is given.
7.2. You grant Tesseract the full ownership to the assets on your Tesseract Earn Account (and to the yield accrued from time to time), and we shall have full authority without further notice to you to lend or stake or invest in any other way, depending on your choice in Qovex Platform cryptocurrency held in your Tesseract Earn Account in Tesseract’s name, separately or together with other property, with all attendant rights of ownership, and for any period of time and without retaining in Tesseract‘s possession and/or control a like amount of cryptocurrency.
7.3. You hereby represent and warrant to us at all times during which you transfer cryptocurrency into your Tesseract Earn Account that: (i) any cryptocurrency lent to Tesseract by you in connection with your Tesseract Earn Account is owned by you and is free and clear of any liens, claims, charges, encumbrances, or any other interest any third party may have, except as set forth in these Tesseract Earn Terms; (ii) you have fully authorized Qovex to carry out all actions, proceedings, and measures required in order for Tesseract to be able to provide you the Tesseract Earn Account as described herein (including but not limited to pooling, batching, and netting the cryptocurrency, and making any tax withholdings as may be required under applicable laws) and as instructed by Qovex from time to time; and (iii) you are validly authorized to carry out and authorize transactions using such cryptocurrency and that all transactions initiated with your Tesseract Earn Account are for your own account and not on behalf of any other person or entity.
7.4. You acknowledge that, with respect to assets used by Tesseract pursuant to this Section 7 (“Ownership of Cryptocurrency and Use of Assets”): (i) you will not be able to exercise rights of ownership for the time cryptoassets are at the Tesseract Earn Account, (ii) Tesseract and other parties may receive compensation in connection with lending or otherwise using or investing cryptocurrency in its business to which you will have no entitlement; and (iii) the ownership of the cryptocurrency you have loaned to us shall be considered to be transferred back to you no earlier than upon the repayment of the loaned assets.
7.5. In the event of any credit losses (as further described in Section 10 “Yield Program Risks”) occurring to the cryptocurrencies deposited to your Tesseract Earn Account, you hereby authorize us to take any actions in respect of such cryptocurrencies, that we believe to result to the most optimal outcome. Such activities may include but are not limited to our right to sell any trade-, bankruptcy-, or other claims related to such credit losses.
8. General Rules Governing Tesseract Earn Accounts
8.1. All of our actions relating to your Tesseract Earn Account, including these Tesseract Earn Terms, will be governed by the laws and regulations of England and Wales. Any lawsuit regarding your Tesseract Earn Account must be brought in a proper court in London, England. If any part of these Tesseract Earn Terms is determined to be invalid or unenforceable, such determination will not affect the remainder of these Tesseract Earn Terms.
8.2. We reserve the right at all times to monitor, review, retain and/or disclose any information as necessary to satisfy any applicable law, regulation, legal process or governmental request.
8.3. All transfers to your Tesseract Earn Account must consist of eligible cryptocurrency and must be deployed by choosing specific investment action at Qovex Platform (e.g. staking, lending) as applicable from time to time and then dedicated for your Tesseract Earn Account. We have the right to reject any transfer and the right to return cryptocurrency already transferred into your Tesseract Earn Account if regulatory reasons exist. Any contribution meeting the confirmation guidelines in Section 2.2 on any day at or before 11:59 p.m. UTC +3 will be treated by us as being received on such day.
8.4. These Tesseract Earn Terms and the relationship created hereby do not create a fiduciary relationship between us.
8.5. We follow instructions regarding your Tesseract Earn Account (received via Qovex Platform’s interface).
8.6. Qovex makes available to you via Qovex Platform and /or Qovex Account a transactions history report showing list of all transactions (deposit, withdraw and yield accrual) on your Qovex Account. You must examine the transactions history report and notify us (via Qovex) of any unauthorized use or any error or irregularity on the transactions history report within 30 calendar days after transaction. If notice is not received within the 30-calendar day period, then we will have no liability to you and any losses will be entirely yours.
8.7. Tesseract Earn Accounts are not transferable or assignable to another person in whole or in part. Notwithstanding the above, Tesseract has the right to transfer or assign these Tesseract Earn Terms or any rights or duties hereunder without your prior written consent.
8.8. For purposes of these Tesseract Earn Terms, our business days are Monday through Friday. Saturdays, Sundays and all national public holidays of England are not included.
8.9. We reserve the right to limit access to your Tesseract Earn Account, which can include temporarily or permanently removing your online access, restricting your accounts and/or closing your accounts without prior notice to you unless prior notice is required by law in case of justifiable reasons (such as requirements applicably to us by legislation). We do not bear liability for such actions. In addition, Tesseract reserves the right to withhold or delay the withdrawal of funds or assets belonging to you if you fail to comply with these Tesseract Earn Terms.
9. Hard Forks and Airdrops
9.1. In the event of a permanent divergence in the blockchain (e.g., when non-upgraded nodes cannot validate blocks created by upgraded nodes that follow newer consensus rules, or an airdrop or any other event which results in the creation of a new token) (a “Hard Fork”), or distribution of a new token or tokens resulting from the ownership of a pre-existing token (an “Airdrop”) for any eligible cryptocurrency deposited to your Tesseract Earn Account, Qovex will furnish you with the incremental tokens generated as a result of such Hard Fork or an Airdrop in accordance with the Qovex Earn Terms and relevant Qovex Terms of Use as applicable from time to time.
9.2. By accepting these Tesseract Earn Terms, you hereby authorize us to transfer all such tokens generated as a result of a Hard Fork or an Airdrop directly to Qovex and release us from any and all liabilities and obligations towards you regarding any such tokens. Any and all queries about whether the Tesseract Earn Account will support an upcoming Hard Fork, or an Airdrop shall be directed to Qovex. You hereby acknowledge that Tesseract has no control over Qovex's policies regarding whether the Hard Fork or Airdrop will be supported or not, and therefore, Tesseract shall not bear any liabilities or obligations towards you.
10. YIELD PROGRAM RISKS
10.1. DEPOSITING YOUR ASSETS TO THE TESSERACT EARN ACCOUNT MAY PUT YOUR CRYPTOCURRENCY AT RISK. YOUR TESSERACT EARN ACCOUNT IS NOT A CHECKING OR SAVINGS ACCOUNT, AND IT IS NOT COVERED BY DEPOSIT GUARANTEE OR SIMILAR SCHEMES, SUCH AS THE FINANCIAL SERVICES COMPENSATION SCHEME OF THE UNITED KINGDOM AND INVESTOR COMPENSATION SCHEMES IN ACCORDANCE WITH DIRECTIVE 97/9/EC OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL, PROVIDING PROTECTION FOR POTENTIAL LOSSES. WE MAY LEND OR STAKE OR INVEST IN ANY OTHER WAY, (DEPENDING ON YOUR CHOICE IN BITSTAMP PLATFORM) WHICH MAY INCLUDE TRANSFERRING CRYPTOCURRENCIES TO OUR PARTNERS AND/OR OTHER THIRD PARTIES, AND SUCH CRYPTOCURRENCY ASSETS WILL BE EXPOSED TO VARIOUS RISKS AS A RESULT OF SUCH TRANSACTIONS.
10.2. ALL OF YOUR DEPOSITS MADE TO THE TESSERACT EARN ACCOUNT ARE TREATED AS NON-SECURED LOANS GRANTED TO US. THE ASSETS ARE TRANSFERRED TO US ON A FULL TITLE BASIS, MEANING THE OWNERSHIP OF SUCH ASSETS SHALL BE DEEMED TO BE PASSED TO TESSERACT FROM THE MOMENT YOU DEPOSIT (VIA BITSTAMP) ANY CRYPTOCURRENCY TO THE TESSERACT EARN ACCOUNT. THE CRYPTOCURRENCY WILL AGAIN BE YOUR PROPERTY UPON A COMPLETED WITHDRAWAL (VIA BITSTAMP) FROM YOUR TESSERACT EARN ACCOUNT. THERE IS NO GUARANTEE THAT A RETURN WILL BE MADE, NO SECURITY REGARDING THE LOANED ASSETS IS GIVEN, AND THE LOAN WILL BE NON-RECOURSE.
10.3. LOANS MADE BY US TO OUR COUNTERPARTIES MAY NOT BE SECURED. YOU MAY HAVE EXPOSURE TO THIRD PARTY CREDIT RISK. IN THE EVENT OF A THIRD-PARTY DEFAULT, TESSERACT DOES NOT HAVE AN OBLIGATION OR THE ABILITY TO RETURN AFFECTED CRYPTOCURRENCY BACK TO YOUR ACCOUNT.
10.4. CRYPTOCURRENCY SUBJECT TO A LOAN WILL NOT BE HELD BY TESSERACT. YOU UNDERSTAND AND ACKNOWLEDGE THAT TESSERACT IS NOT RESPONSIBLE FOR ANY CRYPTOCURRENCY THAT TESSERACT DOES NOT ITSELF HOLD.
10.5. TRANSACTIONS IN CRYPTOCURRENCY MAY BE IRREVERSIBLE, AND, ACCORDINGLY, LOSSES DUE TO FRAUDULENT OR ACCIDENTAL TRANSACTIONS MAY NOT BE RECOVERABLE. SOME CRYPTOCURRENCY TRANSACTIONS SHALL BE DEEMED TO BE MADE WHEN RECORDED ON A PUBLIC LEDGER, WHICH IS NOT NECESSARILY THE DATE OR TIME THAT YOU INITIATE THE TRANSACTION. THE VALUE OF CRYPTOCURRENCY MAY BE DERIVED FROM THE CONTINUED WILLINGNESS OF MARKET PARTICIPANTS TO EXCHANGE GOVERNMENT-ISSUED CURRENCY FOR CRYPTOCURRENCY, WHICH MAY RESULT IN THE POTENTIAL FOR PERMANENT AND TOTAL LOSS OF VALUE OF A PARTICULAR CRYPTOCURRENCY AND/OR CAUSE SUCH CRYPTOCURRENCY TO BECOME ILLIQUID, SHOULD THE MARKET FOR THAT CRYPTOCURRENCY DISAPPEAR.
10.6. IN CERTAIN JURISDICTIONS, CRYPTOCURRENCY IS NOT LEGAL TENDER, AND IS NOT BACKED BY THE GOVERNMENT. ACCOUNTS AND VALUE BALANCES ARE NOT SUBJECT TO ANY PROTECTIONS GRANTED BY ANY DEPOSIT INSURANCE CORPORATION, SECURITIES INVESTOR PROTECTION CORPORATION, FINANCIAL SERVICES COMPENSATION SCHEME OR ANY SIMILAR ENTITY. LEGISLATIVE AND REGULATORY CHANGES OR ACTIONS AT ANY NATIONAL OR INTERNATIONAL LEVEL MAY ADVERSELY AFFECT THE USE, TRANSFER, EXCHANGE, AND VALUE OF CRYPTOCURRENCY.
10.7. THERE IS NO ASSURANCE THAT A PERSON WHO ACCEPTS A CRYPTOCURRENCY AS PAYMENT TODAY WILL CONTINUE TO DO SO IN THE FUTURE. THE VOLATILITY AND UNPREDICTABILITY OF THE PRICE OF CRYPTOCURRENCY RELATIVE TO GOVERNMENT-ISSUED CURRENCY MAY RESULT IN SIGNIFICANT LOSS OVER A SHORT PERIOD OF TIME. THE NATURE OF CRYPTOCURRENCY MAY LEAD TO AN INCREASED RISK OF FRAUD OR CYBER-ATTACK, INCLUDING ROLLBACK ATTACKS OR BLOCKCHAIN REORGANIZATIONS. THE NATURE OF CRYPTOCURRENCY MEANS THAT ANY TECHNOLOGICAL DIFFICULTIES EXPERIENCED BY TESSERACT MAY PREVENT THE ACCESS OR USE OF YOUR CRYPTOCURRENCY. ANY BOND OR TRUST ACCOUNT OR A SIMILAR ARRANGEMENT WHICH MAY BE MAINTAINED BY TESSERACT FOR THE BENEFIT OF YOU AND ALL OF OUR CUSTOMERS MAY NOT BE SUFFICIENT TO COVER ALL LOSSES INCURRED BY CUSTOMERS. IN LIGHT OF THESE RISKS, YOU SHOULD CAREFULLY CONSIDER WHETHER HOLDING CRYPTOCURRENCY IN A TESSERACT EARN ACCOUNT IS SUITABLE.
10.8. YOU ACKNOWLEDGE AND UNDERSTAND EACH OF THE AFOREMENTIONED RISKS AND ACCEPT THE RISK OF LOSS ASSOCIATED WITH DEPOSITING ANY ASSETS TO THE TESSERACT EARN ACCOUNT UP TO, AND INCLUDING, TOTAL LOSS OF ALL YOUR CRYPTOCURRENCY.
11. Indemnification and Limitation of Liability; Attorney’s Fees and Costs for Lawsuits
11.1. You will indemnify and hold us, our affiliates and our partners harmless from any losses, damages, suits and expenses, of whatever kind, including reasonable attorneys’ fees, which we may incur in connection with or arising out of your use of your Tesseract Earn Account or our activities in connection with such account, your violation of any law, regulation, order or other legal mandate, or the rights of a third party, or any act or omission by your agent, representative or third party while using your account, regardless of whether the specific use was expressly authorized by you.
11.2. We are not liable to you for claims, costs, losses or damages caused by an event that is beyond our reasonable control (e.g., the acts or omissions of third parties, natural disaster, emergency conditions, disease epidemics/pandemics such as Covid-19, government action, equipment or communications malfunction). For the avoidance of doubt, you acknowledge that in the event of a third-party default (including failure by a borrower under loans made by deploying cryptocurrencies deposited into the Tesseract Earn Accounts to meet its payment obligations thereunder), Tesseract does not have an obligation to return affected cryptocurrencies or pay yield in accordance with these Tesseract Earn Terms.
11.3. We are not liable for special, incidental, exemplary, punitive or consequential losses or damages of any kind.
11.4. Except for any setoff permitted by applicable law, any amounts owed or liabilities incurred by us ("Obligations") may be satisfied solely from the assets of Tesseract. Without limiting the generality of the foregoing, in no event shall you have any recourse, whether by setoff or otherwise, with respect to any amounts owed or liabilities incurred, to or against any assets of any person or entity other than Tesseract for Obligations, excluding, without limitation, any member, affiliate, investor, employee, officer, agent, advisor or partner of Tesseract. For the avoidance of doubt, the foregoing shall not limit any setoff permitted by applicable law.
11.5. Our liability to you for a claim is limited to the face value of the item or transaction, or the actual value of any funds not properly credited or debited.
12. Conflict/Disputes Involving Your Tesseract Earn Account
12.1. If third parties make claims on your Tesseract Earn Account, or if we receive conflicting instructions from authorized signers, or if we become involved in or concerned about a dispute between you and an authorized signer, we have discretion to act in ways we believe to be appropriate, including by closing your Tesseract Earn Account and returning the cryptocurrency to your Qovex Account. You are liable for all expenses and fees we incur for such conflicts or disputes, including internal costs and attorneys’ fees, and we may charge them to your account.
12.2. Fraudulent activity, including any attempt to withdraw funds that you do not own, or did not purchase, or did not transfer into your Tesseract Earn Account (via Qovex), is strictly prohibited and may result in the closure of your Tesseract Earn Account. Fraudulent activity includes any attempt to take advantage of errors on the Earn Account Interface, websites, systems, applications, or technology platforms.
13. Legal Process Affecting Your Tesseract Earn Account
13.1. If legal action such as an attachment, garnishment, seizure, liquidation, levy or other legal process (“legal process”) is brought against your Tesseract Earn Account, we may refuse to permit (or may limit) withdrawals or transfers from your account until the legal process is satisfied or dismissed. We may also be required to transfer the assets in your account at the behest of governmental authorities pursuant to legal and regulatory actions. Regardless of the terms of such attachment, garnishment, levy or other process, we have first claim to any and all funds in your Tesseract Earn Account.
13.2. We will not contest on your behalf any such legal process and may take action to comply with such legal process as we determine to be appropriate in the circumstances without liability to you. If we incur any expenses, including without limitation, reasonable attorney’s fees, in connection with any such legal process, we may charge any expenses and fees to your Tesseract Earn Account or any other account you may have with us without prior notice to you. Any garnishment, seizure, liquidation, or other levy against your account is subject to our right of setoff and security interest.
14. Waiver
14.1. We may delay or waive any rights we have under these Tesseract Earn Terms. If we delay or waive our rights, you are still obligated to pay us potential fees and other amounts you may owe us under these Tesseract Earn Terms. Any delay or waiver of our rights applies only to the specific instance in which we decide to delay or waive the provision and does not affect our future rights in any way.
15. Closing your Tesseract Earn Account
15.1. We have the right to close your Tesseract Earn Account at any time for any reason without advance notice and consequentially Qovex will disable your access to Tesseract Earn Account. If your Tesseract Earn Account has a balance when we close it, we will return the remaining crypto assets to your Qovex Account (via Qovex), unless prohibited by applicable law. Subject to the following sentence, if we close your Tesseract Earn Account, we will pay you (via Qovex Account) the accrued yield earned up to the closing date. However, if we close your Tesseract Earn Account because you have materially breached these Tesseract Earn Terms or the terms of any other agreement between you and us, you may not be entitled to any unpaid yield that may have otherwise accrued to your Tesseract Earn Account. We will cooperate with any regulatory or governmental entity’s instructions or requests with regard to your account, including freezing it and seizing its assets if mandated.
16. Liability for Failure to Make Transfers
16.1. If we do not complete a transfer to or from your Tesseract Earn Account (via Qovex Account) or in the correct amount as clearly instructed to us according to these Tesseract Earn Terms, we will be liable for your actual losses or damages, subject to certain exceptions. We will not be liable, for instance: (i) if, through no fault of ours, you do not have enough funds in your account to make the transfer; (ii) if circumstances beyond our control (such as fire or flood) prevent the transfer, despite reasonable precautions that we have taken; (iii) in the case of preauthorized credits, if the data from the third party is not received, is incomplete or erroneous; (iv) if your Tesseract Earn Account is not in an active status; (v) due to legal requirements of regulatory restrictions; (vi) other exceptions stated in these Tesseract Earn Terms or in another agreement with you.
17. Disclosure of your Tesseract Earn Account Information
17.1. We may disclose information to third parties about your Tesseract Earn Account or the transfers you make: (i) where it is necessary for completing transfers; (ii) in order to verify the existence and condition of your Tesseract Earn Account for a third party, such as a credit bureau, merchant or partner; (iii) in accordance with these Tesseract Earn Terms; (iv) if you give us your written permission; (v) if we close your Tesseract Earn Account due to a deficient balance, excessive instances when you do not have sufficient funds in your account or to protect or enforce our legal rights; and (vi) in order to comply with government agency or court orders. For information on the processing of your personal data by Tesseract, please refer to our privacy notice at https://tesseractinvestment.com/privacy-notice/.
18. Account Security
18.1. You must maintain adequate security and control of any and all IDs, passwords, hints, or any other codes that you use to access your Tesseract Earn Account via Qovex Platform. Any loss or compromise of the foregoing information or your personal information may result in unauthorized access to your account. We assume no responsibility for any loss that you may sustain due to compromise of your sensitive information. You accept all risks of unauthorized access and use of your account.
19. Communication
19.1. In case you have any question, complaint or other request with regards to your Tesseract Earn Account opened at Tesseract, you can contact Qovex at . In case you directly reach out to us, we have a right to redirect you to Qovex.