Account Protection Programme – Policy guide

Important note: This policy document is to be read in conjunction with the relevant Crypto.com App or Exchange Terms and Conditions (T&Cs) that relate to the Account Protection Programme (APP). To the extent there is any inconsistency between this Policy Guide and the respective Terms and Conditions, the relevant T&Cs shall prevail.

This policy document is issued by Foris DAX AU Pty Ltd, Foris DAX Asia Pte Ltd, Foris DAX MT Limited, Foris DAX BR Ltda, Foris DAX Inc, CRO DAX Limited (Crypto.com as the case may be) for users who have satisfied all the necessary KYC requirements. The policy may vary across other markets, which are listed here.

What is the APP?

This policy document implements the APP for you as a user of the Crypto.Com App and/or Crypto.com Exchange. If you suffer an unauthorised transaction, we determine at our discretion that the policy applies to that transaction. You may be eligible for goodwill protection up to a maximum limit of USD 250,000 equivalent.

What is covered by the APP?

These events are covered by the APP:

Description:

Examples:

Unauthorised withdrawal of Digital Assets from your crypto wallet

As a result of a hack or a phishing attack, someone gains access to your account and transfers your Digital Assets to their or any other third party’s wallet.

Unauthorized withdrawal of fiat currency from your fiat wallet

As a result of a hack or a phishing attack, someone gains access to your account and:

  • Uses cash from your fiat wallet to purchase Digital Assets which they then transfer to their own or a third party wallet; or

  • Transfers fiat currency from your fiat wallet to their own or a third party bank account

What is not covered by APP?

These events are not covered by APP:

Description:

Examples:

You are deceived into authorizing a transaction.

Someone convinces you to transfer crypto or fiat to him/her and then you discover you have been defrauded.

You befriend a person online who convinces you to make a transaction to them.

You mistakenly authorize a transaction.

You copy and paste the wrong public key address when transferring Digital Assets from your crypto wallet to the Crypto.com App.

There is an unauthorized transaction without any external transfers or conversions.

Someone hacks into your account and converts all your CRO tokens to ETH, but no funds have been transferred out of your Crypto.com App account.

You have committed or attempted to commit fraud or abuse.

You grant a third-party access to your Digital Assets or fiat currency in contravention of the T&Cs and/or to facilitate an unauthorised transaction.

Making a claim

To initiate an APP relief application, click ‘Contact Support’ to send us a message.

Minimum conditions for relief

At a minimum, you must have:

  1. enabled Multi-Factor Authentication (“MFA”) for all types of Transaction for which MFA is available at least 21 days prior to the alleged Unauthorised Transaction(s).

  2. enabled an Anti-Phishing Code in the Crypto.com App (which identifies whether emails appearing to be from us are genuine) at least 21 days prior to the alleged unauthorized transaction(s).

  3. enabled 24-Hour Withdrawal Lock for newly whitelisted addresses.

  4. not jailbroken your Enabled Device.

  5. filed a police report locally in relation to the alleged unauthorized transaction and provided a translated copy of that report if it is not in the English language.

  6. completed a security questionnaire from us to support a forensic investigation, and satisfied us that your responses are true.

  7. contacted us to initiate an APP relief within 30 working days of the occurrence of the Unauthorised Transaction(s).

  8. maintained your account in good standing, absent of any pending investigation.

  9. suffered loss or damage because part or all of your (A) Digital Assets and/or (B) fiat currency (or a combination thereof), were transferred out from your Crypto.com App or Exchange by an unauthorized third party.

Our determination

If you have satisfied the minimum conditions; provided us with all the requisite information that we may request, and we are satisfied with the forensic investigation, we may decide that you will have goodwill protection for part or all of your losses. We will pay you in accordance with this policy and the T&Cs.

In accepting any APP relief from us, you agree that (i) we reserve the right to set off any outstanding funds that you may owe us and (ii) waive any claims or rights you may have against us for the full value of the unauthorized transaction.

We reserve the right to rescind any payments made pursuant to this APP if we subsequently determine that any information that you have provided was untrue, or that your conduct involved bad faith, dishonesty, or fraud.

Recovery calculations

Notwithstanding our right to amend the APP, recovery calculations are currently calculated as follows:

Transaction type

Recovery method

Recovery limit

Unauthorized Digital Asset transaction

We will give you the amount of the Digital Asset(s) that is part of or equal to the amount of the unauthorized transaction.

The price of the Digital Assets when we give them to you must not exceed USD 250,000.

Unauthorized transactions involving fiat currency

We will give you the amount that is part of or equal to the amount of that unauthorized transaction.

If USD is the currency of the unauthorized transaction, the recovery limit is USD 250,000.

Otherwise, the limit is the equivalent of USD 250,000 in the currency of the unauthorized transaction, calculated at the conversion rate as of the date we give you the currency.

Account Protection Programme - Available Countries

  1. Australia

  2. Austria

  3. Belgium

  4. Brazil (See Portuguese Version)

  5. Bulgaria

  6. Denmark

  7. Finland

  8. France

  9. Greece

  10. Hong Kong

  11. Ireland

  12. Italy

  13. Netherlands

  14. New Zealand

  15. Norway

  16. Poland

  17. Portugal

  18. Romania

  19. Saudi Arabia

  20. Singapore

  21. South Africa

  22. Spain

  23. Sweden

  24. Switzerland

  25. U.A.E

For further information, please contact us at [email protected].

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