1. INTRODUCTION
IO Global UAB, Vilkpėdės g. 22, LT-03151, Vilnius, Lithuania, with registration number 306355922, operates as a virtual currency exchange, facilitating the exchange of fiat currencies for cryptocurrencies and vice versa cryptocurrencies for fiat.
2. STATEMENT OF INTENT
Exchizo is committed to maintaining a secure and transparent environment for cryptocurrency exchange. The platform endeavors to prevent and detect fraudulent activities, ensuring the safety of user assets and the overall trustworthiness of the exchange.
3. DEFINITIONS
a) Phishing: Illegitimate attempts to obtain sensitive information, such as usernames and passwords, by masquerading as a trustworthy entity/individual.
b) Spoofing: Creating a deceptive appearance or imitation to trick users into believing they are interacting with a legitimate entity/individual.
c) Market Manipulation: Artificially influencing the supply or demand of a cryptocurrency to gain an unfair advantage.
d) Insider Trading: Illegally trading cryptocurrencies based on non-public, material information.
4. TYPES OF FRAUD
a) Account Compromise: Unauthorized access to user accounts through hacking, phishing, or other malicious activities.
b) Market Manipulation: Any attempt to artificially inflate or deflate the price of a cryptocurrency for personal gain.
c) Insider Trading: Trading on confidential information not yet available to the public.
d) Phishing and Spoofing: Deceptive attempts to obtain sensitive information or trick users into performing unauthorized actions.
5. PREVENTION MEASURES
a) Two-Factor Authentication (2FA): Encouraging and facilitating the use of 2FA to enhance the security of user accounts.
b) Regular Security Audits: Conducting periodic assessments of platform security to identify and address vulnerabilities.
c) Trade Surveillance: Implementing systems to monitor and detect unusual trading patterns that may indicate market manipulation.
d) Employee Training: Ensuring all platform staff are educated on security best practices and the importance of maintaining user confidentiality.
6. REPORTING AND RESPONSE
a) Whistleblower System: Establishing a confidential reporting mechanism for users and employees to report suspected fraudulent activities.
b) Investigation Process: Conducting thorough investigations into reported incidents, involving appropriate authorities if necessary.
c) User Communication: Keeping users informed about the steps taken to address and resolve fraud-related issues.
d) Legal Action: Pursuing legal action against individuals or entities engaged in fraudulent activities on the platform.
7. REVIEW AND UPDATE
This policy will be regularly reviewed and updated to adapt to evolving security threats and to ensure its continued effectiveness.
By adhering to this Fraud Policy, Exchizo aims to create a secure and trustworthy environment for all users involved in cryptocurrency trading.