Cryptocurrency and Token Recovery Policy
§1 Preliminary remarks
This document is effective as of 1/2/2022.
- For the purposes of this Token Recovery Policy (hereinafter referred to as the Policy), the definitions taken from the Rules of Provision of Electronic Services by BB Trade Estonia OÜ, available at www.zondaglobal.com are used.
- This Policy defines the procedures applied by the Zonda Digital Currency Exchange in the case of cross-chain token recovery and crypto delisting.
§2 The procedure for recovering crypto and tokens in a cross-chain deposit.
Recovery of Cryptocurrency and tokens in a cross-chain deposit is a very complex, manual procedure, so Zonda cannot guarantee a successful outcome. Not all deposits are recoverable. In addition, each recovery has different levels of difficulty, time and security risks, depending on the currency that was wrongly sent.
Zonda informs and encourages all users to be careful when depositing cryptocurrency and tokens. It is the User's responsibility to ensure the correct transfer of assets to the Zonda.net account.
- A user account will not be credited with a crypted token in case:
- a) no or incorrect User identification data (e.g. id, tag, address) is provided during the transfer, if such data is required by the Service for a given cryptocurrency,
- b) crediting the User's Account to the wallet address made available in the Zonda Service for deposits from another cryptocurrency,
- c) crediting the User Account to the address of a wallet not assigned to a particular User,
- d) selecting a not supported network standard for e.g. BEP20 instead of ERC20.
- In the cases specified in §2.1, the User has the right to request for cryptocurrency and token recovery via e-mail:[email protected]
- The application must contain:
- a) A description of the transaction,
- b) Transaction identifier,
- c) Date/time/currency of transaction,
- d) Additional documentation;
- Zonda will make a preliminary assessment of the notification against the following criteria:
- a) You must have a verified Zonda.net account, consisting of completing the mandatory KYC procedure on Zonda.net,
- b) the claim must be made within a deadline of 90 days from the date of payment,
- c) User must have a hosted wallet on Zonda.net
- d) the value of the request exceeds the equivalent of USD 250 at the time of the transaction,
- All the above criteria must be met for the measures to be considered eligible for recovery.
- Zonda will assess each time a cryptocurrency/token recovery notification is submitted, the outcome of which will be communicated to you within a maximum of 7 days from the date of registration.
- Zonda has the right to refuse to make an attempt to recover the funds, regardless of the above mentioned factors, especially in the case of suspicious activities related to the deposit.
- By submitting an instruction to initiate a cryptocurrency/token recovery attempt, the user accepts an obligation to pay a fee for cryptocurrency and token recovery in the amount of USD 100.
- 8.1. In the case of a cryptocurrency, the fee is charged to BTC, at the rate at the time of recovery.
- 8.2. In the case of tokens, the fee shall be collected in ETH, at the exchange rate at the moment of recovery.
- At the moment of submitting a request for token recovery, the full amount of the fee must be available in the hosted user's wallet on the Zonda.net service.
- The payment of the fee does not require the intervention of the User, the funds are collected by charging the Zonda with the Account of the User submitting the instruction to recover the cryptocurrency/tokens.
- The supported currencies eligible for cross-chain recovery include currency pairs: BTC->BCC, LTC->BTC, BCC->BSV, and ETH network transfers (ERC20). It is reserved that it is not possible to recover currency pairs: BCC ->BTC and USDT -> BTC. Other currency pairs are subject to individual consideration.
- Tokens not supported by Zonda, as well as - ICO's, airdrops, blockchain fork - will not be credited to your account.
- Zonda is not responsible for the final result of an attempt to recover tokens, all actions are taken at your sole risk.
§3 Currency Delisting
Zonda may decide to remove crypto or tokens from the Zonda Exchange. Zonda usually informs users in advance of the planned removal of cryptocurrency/tokens or the market, so that the accumulated funds can be withdrawn.
- Zonda reserves the right to remove crypto/tokens or the market from the exchange for any reason, without prior notice and without giving any reason.
- Zonda informs Users about the planned delisting, within a period of at least 14 days, in order to allow for the submission of an instruction to pay out the delisted digital currencies, unless a different regulation results from the applicable laws or binding decisions of the authorities.
- The information about the planned delisting shall be sent in the form of an e-mail message to the e-mail address assigned to the User Account and shall be published on the website www.zondaglobal.com
- From the date of complete removal of tokens/markets from the Zonda exchange, Zonda guarantees the Users an additional 60-day period to allow for the withdrawal of funds.
- The periods described in §3.1 and §3.4 may be shortened due to extraordinary circumstances beyond Zonda's control, for which Zonda is not responsible - for example, blockchain damage. As a result of the circumstances described in the preceding sentence, funds subject to delisting may not be paid out.
- After the expiry of the period specified in § 3 Clause 3, the unpaid funds in the User's Account shall be deposited in a negative interest bearing deposit account of the Zonda exchange, where the interest rate per month is minus 20% of the initial value of the accumulated deposit. Zonda will endeavor to update the balance in the User's Account automatically. However, in case this functionality is not available, the User will only receive information about the balance by submitting an instruction as described in § 3 Clause 7.
- The User has the right to submit an individual withdrawal instruction for the funds deposited in the Zonda Exchange Negative Interest Deposit Account. However, if the above mentioned functionality is not available the instruction should be submitted electronically to the e-mail address [email protected]. Applications will be processed on a first-come, first-served basis, but no later than within 30 days.
- The User's right to claim the equivalent of delisted currency in case of complete removal of the crypto/token ecosystem or market is excluded.
- Zonda shall not be liable for damages and expenses incurred by the User in connection with the termination of token/marketing services.
- Zonda informs Users of the planned removal of the market, within a period of at least 3 days, but no more than 7 days, unless a different regulation results from applicable laws or binding decisions of authorities.
- The provisions of this paragraph shall apply in addition to the delisting already implemented.
§4 Final provisions
- Zonda is entitled to change the Policy and the change shall take effect on the date indicated by Zonda. The change shall not be less than 7 days from the moment of making the changed Policy available to the User. The User shall be informed about the change of the Policy by an e-mail message sent to the e-mail address assigned to his User Account.
- In case of non-acceptance of the changes, the User shall immediately notify Zonda , in writing or via e-mail to the e-mail address: [email protected] .
- The provisions of this Policy are separable and the recognition of any of them as invalid does not affect the binding force of the others.
- Any matters not regulated by the Policy shall be governed by the provisions of the Zonda Regulations and the generally applicable laws of the Republic of Estonia.