1.1 The Terms of Use constitute a legally binding agreement between you and Gambit Custody Sdn Bhd. For the purposes of this Terms of Use, any reference to “we” “us” “our” “Gambit”, “Gambit Custody”, “The Company “and/or any similar term shall be construed as reference to Gambit Custody Sdn Bhd, while any reference to “you” “your” “Client” and/or any similar term shall be construed as reference to you as the Gambit Custody’s user.
1.2 By registering and opening an account to use our website and Gambit Custody (each a “Client Account”), you represent that you are eligible to do so, and unconditionally agree that you have read, understood and accept all of the Terms of Use set out below, together with the Custodian Service Agreement, Privacy Policy Statement, and the Self-Declared Risk Acknowledgment (as those terms are defined below) (collectively, the “Agreement”).
1.3 You also accept and agree that you are solely responsible for understanding and complying with all laws, rules, regulations and requirements of the jurisdiction in Malaysia that may be applicable to your use of our website and/or your Custody Account.
1.4 Please read this Terms of Use carefully before using our website because they affect your legal rights and obligations. Gambit Custody may, in its sole and absolute discretion, refuse to open a Custody Account for you.
The Gambit Custody Sdn Bhd Platform offers a convenient method for you to issue instructions for the provision of its Digital Assets "Custodial Services" to each Client.
Gambit Custody Sdn Bhd provides the following services to each Client:
• provide the Client with one or more segregated custody account(s) maintained, controlled and secured by the Custodian (“Custody Account(s)”);
• safe keep, store, hold or maintain custody of the Supported Digital Assets received by the Custodian from the Client in the Custody Account;
• ensure that the Supported Digital Assets in the Custody Account are properly segregated and not be commingled with other assets owned by the Custodian, and safeguarded from conversion or inappropriate use by any person;
• deal with the Supported Digital Assets in the Custody Account in accordance with the Instructions given by the Client, provided that the Custodian is legally permitted to act on such Instructions, including but not limited to Deposits, Withdrawals and any other actions necessary to manage and administer the Supported Digital Assets in accordance with the Client’s Instructions;
• establish system and controls for maintaining accurate and up-to-date records of the Supported Digital Assets in the Custody Account; and
• keep the private key or keys to the Custody Account safe and secure, and shall not disclose such key or keys to any unauthorised person or party, (collectively, the “Custodial Services”).
3.1 For the purpose of these Terms of Use, the following terms shall, unless the context otherwise requires, have the meanings as defined below. All other terms not defined herein shall have the meaning as may generally be accepted within the industry based on the context used herein:
“Digital Asset Services” | means the products and services which Gambit Custody provides to Users and Clients, including but not limited to the Custody Services. |
“Digital Asset Transaction” | refers to the transactions facilitated by Gambit's Platform, allowing users to send, request, receive, and store Supported Digital Assets by issuing instructions through the Platform. |
“Disclaimer” | means Gambit Custody Disclaimer available in our website or Platform. |
“Client” | means the Users which we have accepted as Client for our Digital Asset Services. |
“KYC or KYB” | refers to “Know Your Customer” or “Know Your Business”, a process by which we obtain information about the identity and address of Users and potential Users and Clients. |
“Privacy Policy Statement” | means the Gambit Custody Privacy Policy Statement available in our website. |
“Self-Declared Risk Acknowledgment” | means the Gambit Custody Self-Declared Risk Acknowledgement available in our website or Platform. |
“Supported Digital Asset” | refers to the digital assets ie. BTC, ETH and such other Digital Assets as may be supported on our platform from time to time. |
“User” | refers to any person using Gambit Custody who has registered an account on our Platform. |
“Platform” | denotes the digital infrastructure provided by Gambit that enables users to conduct transactions involving Supported Digital Assets, including sending, requesting, receiving, and storing these assets. |
4.1 Gambit Custody reserves the right to amend or modify (in whole or in part) this Terms of Use at any time by publishing the revised version of this Terms of Use on our website.
4.2 The amendments to this Terms of Use will become effective and shall be deemed accepted by you, on and from the first time you access Gambit Custody’s Platform or the Digital Asset Services following Gambit Custody publishing such amendments and they will apply on a going-forward basis with respect to any activity initiated after publishing.
4.3 You agree and acknowledge that it shall be your responsibility to visit our website regularly to check when the Terms of Use were last updated (as displayed at the top of this document) and to review the current Terms of Use. We will do our best to notify you of any amendments to the Terms of Use that we consider likely to materially affect your rights and obligations. Any such notice will be posted on our website or sent by email to the address associated with your Custody Account (see Electronic Communications).
4.4 The continued use of your Custody Account, after any amendment to this Terms of Use, constitutes your acceptance of the Terms of Use, as modified by such amendment.
4.5 If you do not agree with any amendment to this Terms of Use, your sole and exclusive remedy is to close your Custody Account. You agree that Gambit Custody shall not be liable to you as a result of any loss or damage suffered or incurred by you arising out of or in connection with any amendments to, or Gambit Custody’s exercise of its rights under, this Terms of Use.
5.1 By opening a Custody Account, you expressly warrant and represent that:
I. You are 18 years of age or over and have full capacity to accept the Terms of Use and enter any transaction available through our website;
II. You will not open, or attempt to open, a Custody Account under any name except your own; or use your Custody Account to carry out transactions on behalf of a third party;
III. You will adhere to the Gambit Custody’s Enterprise account (corporation, company, trust or partnership) application process if you seek to open and use a Gambit Custody Enterprise Account;
IV. You have provided the required identification information/document pursuant to Gambit Custody’s Anti Money Laundering and Counter Financing of Terrorism Policy and accepted by Gambit Custody Sdn Bhd;
V. You will provide both the original supporting document and a translated English version of the supporting document that has been notarized by country’s public notary if you are residing in country whose documents issued are in their native languages(which is other than English language)
(Note: This term and condition applies to Foreign User)
VI. You will not have more than one Custody Account; use or access any Custody Account other than your own; or assist any other person in obtaining unauthorised access to any Custody Account;
VII. You will not allow or facilitate the deposit of Digital Assets into your Custody Account unless that deposit is made in accordance with the Deposit Requirements (see Deposits);
IX. You will not allow or facilitate the withdrawal of Digital Assets from your Custody Account unless that withdrawal is made in accordance with the Withdrawal Requirements (see Withdrawal);
X. You will not use your Custody Account for or in relation to any illegal activity, any Prohibited Activity, in violation of any laws, statutes, ordinances or regulations;
XI. Any information that you provide is true, accurate and correct; and
XII. You acknowledge that transacting and storing digital assets involves large risks and could result in significant financial losses and you shall not hold Gambit Custody or any of its affiliates, officers, directors, employees and representatives liable for whatsoever arising therefrom.
5.2 You acknowledge and agree that you are not permitted to enter into this Terms of Use if the funds used by you in connection with the use of the Digital Asset Services and/or access to Gambit Custody are the proceeds (whether in whole or in part) of any criminal or illegal activity, money laundering activity or any Prohibited Activity.
5.3 Gambit Custody may, in its sole and absolute discretion and without being required to give any explanation or notice, refuse access to Gambit’s Platform or any Digital Asset Service to any User or Client, including where the User/ Client does not meet, or Gambit Custody suspects that the User or Client does not (or is unlikely to) meet, the requirements set out in this Terms of Use, including the Anti-Money Laundering/Combat the Financing of Terrorism (AML/CFT) standard.
4.4 By opening a Custody Account, you accept and agree that Gambit Custody may, without further notice and in its sole discretion, terminate, suspend or restrict the account of any customer who uses, or who we reasonably suspect may be using, our website or any Custody Account in a manner that is inconsistent with the letter or spirit of this Terms of Use.
6.1 Before using our website, you should ensure that you understand the risks involved in buying, selling, trading, storing or transacting digital assets. Digital asset markets can be volatile and prices can fluctuate significantly, which could result in sudden and significant increases or decreases in the value of your assets.
In addition to the supplementary risks outlined in these Terms of Use and the Custodian Service Agreement, you hereby affirm and consent that:
i. You have carefully evaluated your financial situation and risk tolerance to determine whether engaging in digital asset custodial services is suitable for you;
ii. All decisions regarding the use of digital asset custodial services are made solely by you. Regardless of any provisions in this agreement, Gambit Custody and its affiliates, officers, directors, employees, and representatives bear no responsibility and shall not be liable for any decisions made by you in connection with these services.
iii. You have thoroughly reviewed the Self-Declared Risk Acknowledgment along with the Custodian Service Agreement and recognize the inherent risks associated with utilizing Gambit Custody's services for digital assets.
iv. You acknowledge that any losses stemming from linking your Custody Wallet or transferring Digital Assets from it for trading or investment purposes are not covered by Gambit Custody.
7.1 You accept and agree that:
7.1.1 any communications, agreements, notices and/or any other documents (together “Communications”) relating to your Custody Account or your use of Gambit Custody’s services will be provided to you electronically by posting them on our website, emailing them to the email address you have provided to us, or through any other form of electronic communication. You consent to receiving all Communications electronically;
7.1.2 without contrary to any other provisions under these Terms of Use, you hereby consent that we may contact you via phone calls, text messages, emails and other electronic methods in future by using the information provided by you during registration on the Platform.
7.1.3 all electronic communications will be done in accordance with the Electronic Commerce Act 2006 and you hereby consent to receive electronically all related disclosures, including but not limited to documents, communications, notices, contracts, agreement or information statement from us or our affiliates, marketing partners, agents and other third party service providers who we may use
7.1.4 you will at all times have available to you the necessary hardware and software to receive, access and retain Communications sent to you electronically, including a device with an internet connection and a valid and accessible email address; and
7.1.5 you are not allowed to change your registered email address as accounts are tied to an email address. If you suspected your account have been hacked and wish to change the email address, please contact our customer support service for assistance.
7.2 You may at any time withdraw your consent to receiving Communications electronically by contacting support@gambit.com.my;
8.1 Gambit Custody implements and maintains the strict standards of Know Your Customer (“KYC”) processes, Know Your Business (“KYB”) and controls as part of our commitment to combating fraud and assisting in the prevention of money laundering and terrorist financing.
To ensure we meet these standards, you are required to provide certain personal details and documents when opening a Custody Account (“Identity Verification”). The nature and extent of the Identity Verification required will depend upon our risk-profiling of customers and the deposit and withdrawal limits that you wish to apply to your Custody Account.
In certain circumstances, Gambit Custody may also perform Enhanced customer Due Diligence (“EDD”) procedures in relation to your Custody Account. You accept and agree that you will always remain subject to such procedures.
8.2 Each User acknowledges and agrees the following:
8.2.1 identification and verification procedures, as per KYC prior to a Client using the Custody account and receiving the benefit of the Digital Asset Services;
8.2.2 if a Client fails to provide required documents and information under KYC, Gambit Custody reserves the right to:
a) prevent such Client from performing any transaction within the Platform or accessing Gambit Custody’s Digital Asset Services; and/or
b) immediately terminate the provision of Digital Asset Services to the Client without prior notice.
8.2.3 all information (including but not limited to personal information of the Client) that such Client provides to Gambit Custody is accurate and complete. If Gambit Custody suspects any such information is inaccurate, false or incomplete, Gambit Custody reserves the right to:
a) refuse the Client to register for a Custody Account;
b) prevent access to the Platform or the Digital Asset Services; and/or
c) immediately terminate the provision of Digital Asset Services to the without prior notice.
8.2.4 if Gambit Custody has a suspicion of a Client engaging in any illegal activity, including but not limited to money laundering, fraud, theft or criminal activity, Gambit Custody may either request such Client to provide additional information for KYC, KYB and validation purposes or immediately terminate the provision of the Digital Asset Services to that Client without notice and report such activities to the relevant regulatory authority;
8.2.5 the Client hereby authorises Gambit Custody to, directly or indirectly (through third parties), make any inquiries Gambit Custody considers necessary to check the relevance and accuracy of the information provided for verification purposes, including subcontracting the provision of any related KYC, KYB or Client verification services to a nominated third party; and
8.2.6 that there may be delays in accessing your Custody Account, or in carrying out transactions through your Custody Account, while we undertake any Identity Verification and/or EDD procedures.
8.3 Retention of information
Gambit Custody is required to retain certain information and documentation obtained as part of the Identity Verification and EDD procedures. These requirements apply even when you have terminated your relationship with Gambit Custody. We reserve the right to keep such information and documentation for the required period and you accept and agree that information and documentation you provide to Gambit Custody may be retained by us, including following the closure of your Custody Account.
9.1 The Custody Account allows you to send, receive and store digital asset (together, “Transactions”).
The Supported Digital Asset may change from time to time. Under no circumstances should you attempt to carry out a Transaction in relation to a digital asset other than a Supported Digital Asset. In particular, but without limiting the generality of the foregoing, you accept and agree that you will have no access, entitlement or claim:
9.1.1 to any digital asset sent to a receiving address associated with your Custody Account where that digital asset is not a Supported Digital Asset;
9.1.2 to any digital asset sent to a receiving address associated with your Custody Account, where that receiving address is associated with another digital asset. For example, you will have no access, entitlement or claim to any Bitcoin (BTC) sent to a Ethereum (ETH) receiving address.
9.2 There is also a restriction imposed whereby the Supported Digital Asset can only be:
9.2.2 transferred to the Custody Account from any external wallet addresses which are not associated to any illicit activities; and
9.2.3 transferred from the Custody Account to any external wallet addresses which are not associated to any illicit activities.
9.3 Transaction instructions
9.3.1 Gambit Custody will process the Transactions according to your instructions.
9.3.2 You accept and agree that Gambit Custody does not:
a. guarantee the identity of any Client, receiver, or other party to Transaction. You are solely responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to the Platform; or
b. have any control over, or any liability in relation to, the delivery, quality or any other aspect of any goods or services that you may buy from or sell to another party. Gambit Custody shall not be responsible for, and will take
c. guarantee the identity of any Client, receiver, or other party to Transaction. You are solely responsible for ensuring all transaction details are correct, and you should carefully verify all transaction information prior to submitting transaction instructions to the Platform; or no action in relation to, ensuring that any buyer or seller you transact with using your Custody Account completes the relevant transaction or has the requisite authority to do so.
9.3.3 You also acknowledge and accept that: does not:
a. Digital Asset Transactions cannot be reversed once they have been broadcasted to the relevant network facilitating the mining of such Supported Digital Asset (the “Supported Network”.
b. Supported Digital Assets associated with Digital Asset Transactions that are in a pending state will be designated accordingly and will not be displayed in your Custody Account or be available for the Client to conduct subsequent Digital Asset Transactions until the relevant transaction is verified by the Supported Network.
c. Gambit Custody may refuse to process or may cancel any pending Digital Asset Transaction for any reason at its sole discretion (including but not limited to there being insufficient Supported Digital Asset in the Custody Account to settle the relevant transaction at the time of such instruction) or as required by applicable laws or any court or other regulatory authority to which Gambit Custody is subjected to.
d. Gambit Custody reserves the right to reject or cancel instructions made and/or pending during system downtime or blockchain network outage.
e. A Client may request to cancel or amend its instructions, but Gambit Custody is not obliged to accept any such request. Instructions may be cancelled or amended only before execution, and such Client agrees that Gambit Custody shall incur no liability in connection therewith.
f. Gambit Custody assumes no responsibility or liability to the Client in connection with such Client’s use or attempt to use the Custody Account, including where the Client attempts to send and/or receive digital currencies such as the Supported Digital Assets via the Digital Asset Transactions; and
g. In the event of suspension or outage, Client agrees to transfer Supported Digital Asset in the Client’s Custody Account to another external wallet.
9.4 Receiving Digital Asset
You may receive Supported Digital Asset into your Custody Account by providing the sender with a receiving address generated in your Custody Account.
Your Custody Account will only be credited with Supported Digital Asset sent to a receiving address generated through your Custody Account and associated with that Supported Digital Asset. For example, your Custody Account will be credited with BTC when it is sent to a BTC receiving address generated through your Custody Account.
9.5 Erroneously Received Funds
In the event you know, suspect, or should reasonably know or suspect, that any Digital Asset has been credited to your Custody Account in error, you must immediately notify Gambit Custody of the error via email to our support team.
You accept and agree that you have no claim or entitlement to any Digital Asset received in error and must immediately return such funds in accordance with the instructions received from Gambit Custody.
10.1 The fees applicable to transactions undertaken and custody on Gambit Custody can be viewed under Fees & Charges on our website or Custodian Service Agreement. You agree and acknowledge that Gambit Custody reserves the right to change our fees at any time and will update the Fees & Charges page or the Custodian Service Agreement accordingly.
11.1 Gambit Custody takes security very seriously and the measures we have in place to protect your Custody Account. However, you are solely responsible for:
a. Establish a framework of privacy and personal data protection standards governing our procedures, aimed at safeguarding the privacy of your personal data.
b. activating of two factor authentication on your Custody account;
c. keeping your contact details up to date so that you can receive any notices or alerts we may send to you in relation to security (see Electronic Communications; and
11.2 Failure to take the above measures, and any other security measures available to you, may result in unauthorised access to your Custody Account and the loss or theft of any Digital Asset held in your Custody Account. Gambit Custody shall have no liability to you for or in connection with any unauthorised access to your Custody Account, where such unauthorised access was due to no fault of Gambit Custody, and/or any failure by you to act upon any notice or alert that we send to you.
11.3 The security of your Custody Account may be compromised, or interruption caused to it, by phishing, spoofing or other attack, computer viruses, spyware, scareware, Trojan horses, worms or other malware that may affect your computer or other equipment. Gambit Custody strongly recommends that you regularly use reputable virus screening and prevention software and remain alert to the fact that SMS, email services and search engines are vulnerable to spoofing and phishing attacks. You should immediately notify Gambit Custody about any unusual, suspicious, unclear or abnormal changes in relation to your Custody Account, or any unauthorized use of your Custody Account, or any security breaches in relation to your Custody Account.
11.4 Care should be taken in reviewing messages purporting to originate from Gambit Custody and, should you have any uncertainty regarding the authenticity of any communication, you should log in to your Custody Account through our website to review any transactions or required actions.
11.5 To the maximum extent permitted by applicable law, you accept and agree that you have full responsibility for all activity that occurs in or through your Custody Account and accept all risks of any unauthorised or authorised access to your Custody Account.
12.1 Gambit Custody securely stores all Supported Digital Asset private keys (“Private Keys”) associated with any Custody Account. You accept and agree that Gambit Custody shall retain full ownership and control of the Private Keys associated with your Custody Account and that you shall have no control of access to, or the ability to use, such Private Keys. For example, but without limiting the generality of the foregoing, Gambit Custody will not:
12.1.1 accept or adhere to any instruction to sign any data with a Private Key; data.
12.1.2 give access to any funds associated with your private keys, other than those of the Supported Digital Asset associated with your Custody Wallet;
12.1.3 allow the creation of any receiving addresses associated with a Private Key other than the receiving addresses created through your Custody Wallet. Gambit Custody will not credit to your Custody Account any digital asset associated with a Private Key other than where such funds have been received via a receiving address generated through your Custody Account.
13.1 While we will do everything, we can provide continuous operations, Gambit Custody does not provide any warranty in relation to the availability of our Platform or your Custody Account. Without limiting the generality of the foregoing, we do not guarantee continuous access to our Platform or your Custody Account and make no representation that our Platform, API, your Custody Account and/or any products or services offered therein will be available without interruption; or that there will be no delays, failures, errors, omissions or loss of transmitted information.
13.2 Although we intend to provide accurate and timely information on the website and Platform, the website and Platform may not always be entirely accurate, complete or current and may also include technical inaccuracies or typographical errors.
13.3 In an effort to continue to provide you with as complete and accurate information as possible, information may, to the extent permitted by applicable laws, be changed or updated from time to time without notice to you, including without limitation information regarding our policies, products and services. Accordingly, you should verify all information before relying on it, and all decisions based on information contained on the Site are your sole responsibility and we shall have no liability for such decisions.
14.1 When you use your Custody Account to send or receive Digital Asset, the transaction must be confirmed and recorded in the public ledger associated with the relevant Digital Asset network (e.g. the Bitcoin network, the Ethereum network and such other). That Digital Asset network is solely responsible for verifying and confirming any such transactions. Gambit Custody cannot confirm, cancel or reverse transactions on a Digital Asset network, other than confirming to you that the network has completed the transaction. You accept and agree that:
14.1.1 Once submitted to a Digital Asset network, a transaction will be unconfirmed for a period of time pending sufficient confirmation of the transaction by the network. A transaction is not complete while it is in a pending state. Funds associated with transactions that are in a pending state will be designated accordingly, and will not be included in your Custody Account balance or be available to you to conduct transactions;
14.1.2 When you send Digital Asset from your Custody Account, you are authorising us to submit your transaction request to the relevant Digital Asset network. Once a transaction request has been submitted to the relevant Digital Asset network, the network will automatically complete or reject the request and neither you nor Gambit Custody will be able to cancel or otherwise modify your transaction; and
14.1.3 Digital Asset networks are operated by decentralised networks of independent third parties. They are not owned, controlled or operated by Gambit Custody so we cannot ensure that any transaction details you submit will be confirmed by the relevant Digital Asset network. You agree that any transaction details you submit may not be completed, or may be substantially delayed, by the Digital Asset network used to process the transaction.
14.2 Network protocols and operating rules
The underlying software protocols that govern the operation of the Supported Digital Assets are open source. Accordingly, anyone can use, copy, modify, and distribute them and Gambit Custody has no ownership of or control over these protocols. By using our website, you accept and agree that:
14.2.1 Gambit Custody is not responsible for the operation of any digital asset network’s underlying software protocols and makes no guarantee as to their availability, security, or functionality;
14.2.2 the underlying software protocols are subject to sudden changes in operating rules (known as “forks”), and that such forks may materially affect the value, function, and/or name of any Digital Asset you store in your Custody Account. Should a fork occur, Gambit Custody may, with or without notice to you, temporarily suspend our operations and, in our sole discretion, decide whether or not to support either branch of the forked protocol entirely; and
14.2.3 acknowledge that the process and procedure for any Fork events adhere to the Fork Policy outlined in the separate Custodian Service Agreement.
15.1 You acknowledge and agree that:
15.1.1 Gambit Custody may, at its sole discretion, close your Custody Account at any time; data.
15.1.2 You may close your Custody Account, by submitting a closure request via email;
15.1.3 the Client is responsible for any fees, costs, expenses, charges or obligations (including, but not limited to, legal and court fees or transfer costs of fiat currency) associated with closing its Custody Account;
15.1.4 if the Outstanding Amounts and/or the Custody Account closing costs exceed the balance in the Custody Account, such Client will be responsible for reimbursing Gambit Custody, with such costs to be paid in full. For clarity, Gambit Custody reserves the right to refuse to close the relevant Custody Account in such circumstances.
15.2 When Gambit Custody initiates the Custody Account closure, Gambit Custody shall notify the Client to transfer the Digital Asset balance into an external Digital Asset within 30 calendar days. After the given period and if there is still no response from the Client, the registered account shall be unilaterally closed.
15.3 The undrawn asset/ proceeds of the account that has been closed will be kept within the Platform for 7 years period. After the 7 years period, the unclaimed asset shall be liquidated and surrendered to the Registrar of Unclaimed Moneys, in accordance with the provisions of the Malaysian Unclaimed Moneys Act 1965.
15.4 Similarly, if you request to close your Custody Account, you must transfer out your Digital Asset balance into an external Digital Asset wallet within next day from the date of closure request approved.
15.5 You accept and acknowledge that, once your Custody Account is closed:
15.5.1 you will have no further access to it;
15.5.2 Gambit Custody will be under no obligation to notify you of, or provide to you, any Digital Asset sent to any receiving address associated with your Custody Account; and
15.5.3 Gambit Custody reserves the right (but has no obligation) to delete all your information and account data stored on our servers, and reserves the right to retain any information that is required for legal or operational reasons.
15.6 You accept and agree that Gambit Custody shall not be liable to you or any third party in relation to the closure of your Custody Account, the termination of access to your Custody Account, or for the deletion of your information or Custody Account data.
16.1 Gambit Custody reserves the right to restrict, suspend or terminate your Custody Account where:
16.2 In the event that the Digital Asset Services or your Custody Account, is restricted, terminated or suspended by us due to reasons stated in Clause Error! Reference source not found. or fraudulent, illegal or unlawful transactions including but not limited to breaches of any law (including but not limited to: the Capital Market and Services Act 2007, Financial Services Act 2013, Islamic Financial Services Act 2013, Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001 or any regulation and/or guidelines made thereunder):
16.2.1 we shall not be under any obligation to refund you the whole or any part of any fees paid or payable by you;
16.2.2 you are not entitled to any compensation or indemnification for loss of rights, goodwill or otherwise, as a result of the termination in accordance with these Terms of Use; and
16.2.3 any and all of your liabilities to us that have accrued before the effective date of the suspension, termination or cancellation shall survive even after the suspension, restriction or termination.
16.3 Notwithstanding Clause Error! Reference source not found. above, in the event that we reasonably suspect that you pose a high risk of financial crimes, including financing of terrorism and proliferation financing, we reserve the right to:
16.3.1 freeze your funds or block your transaction (where applicable);
16.3.2 reject your transaction, if the transaction has not commenced; and
16.3.3 execute the necessary actions in compliance with the relevant laws, regulations and guidelines.
16.4 The freezing of funds or accounts shall remain in effect until we can get confirmation with documentary evidence that:
16.4.1 you have been delisted by the sanctions list which caused the freezing of your funds or accounts; or
16.4.2 your funds or accounts have been inadvertently affected by virtue of you having the same or similar name with a designated person.
16.5 We shall not be obliged to refund the available balance (if any) in your Custody Account until and unless clearance has been obtained from the relevant authorities, if applicable.
16.6 We will endeavour to up-lift the suspension of your Custody Account as soon as reasonably practicable once the reasons for refusal and/or suspension no longer exist. However, in the event that your order or transaction is not completed due to your Custody account being suspended, we are under no obligation to allow you to reinstate the order or transaction at the same price or on the same terms as the suspended, reversed or cancelled any transaction.
16.7 You will be notified via e-mail if your Custody Account has either been suspended or terminated. We may suspend, restrict, or terminate your use of or access to the Website / Platform and/or deactivate or cancel your Custody Account, as we deem fit without providing to you any reason whatsoever. You acknowledge that our decision to take certain actions, including limiting access to suspension, restriction or termination of your Custody Account, may be based on confidential criteria that are essential for the purposes of our risk management, security protocols or compliance to the relevant laws, regulations and guidelines. You agree that we are under no obligation to disclose the details of such risk management and security protocols to you.
16.8 Upon the invocation of suspension of your Custody Account, your access to the Platform will be blocked and all your pending transactions shall immediately be cancelled. You will no longer be able to make any transaction through the Platform and we shall not be liable to you for any losses, damages or costs arising from such suspension.
16.9 Upon the invocation of termination of your Custody Account, you will be given 30 calendar days to withdraw all your available balance in Custody Account. Once the 30 calendar days period lapsed, your access to the Platform will be blocked and we shall not be liable to you for any losses, damages or costs arising from such termination.
17.1 This section applies to any use of Gambit Custody’s Application Programming Interface and any associated documentation or materials (together, the “Gambit Custody API”).
17.2 Any use of the Gambit Custody API is entirely at your own risk. It is your responsibility to keep any API keys, passwords or other credentials relating to your use of the Gambit Custody API securely, and you accept and agree that you take full responsibility for all requests made over the API, whether authorised by you or not.
17.3 Gambit Custody sets and enforces limits on your use of the Gambit Custody API (e.g. limiting the number of requests per second). You accept and agree that any circumvention of, or attempt to circumvent, these limits, or any use of the API that may adversely affect other Clients of the Platform, may result in Gambit Custody, at its sole discretion, revoking your API access.
18.1 Under no circumstances does any information contained on our website, Platform, or provided to you through your Custody Account or by any employee, agent or affiliate of Gambit Custody, constitute financial, investment or other professional advice.
18.2 You are solely responsible for any decision to store or to transfer Digital Assets.
18.3 For more information on the risks involved, see Risks in the Custodian Service Agreement and the Self-Declared Risk Acknowledgment on our website. You should consult your legal or tax professional in relation to your specific situation.
19.1 You are solely responsible for determining whether, and to what extent, any taxes apply to any transactions you carry out through your Custody Account, and for withholding, collecting, reporting and remitting the correct amounts of tax to the appropriate tax authorities.
20.1 You must not use your Custody Account to undertake any of the activities or categories of activity set out in this section (each a “Prohibited Activity”);
20.1.1 violation of any laws, statutes, ordinance or regulations (including but not limited to the Guidelines on Digital Assets issued by the Securities Commission of Malaysia);
20.1.2 undertaking, facilitating or supporting criminal activity of any kind, including but not limited to, money laundering, terrorist financing, illegal gambling operations or malicious hacking;
20.1.3 unmannerly activity, including but not limited to:
a) imposing an unreasonable or disproportionately large load on Gambit Custody’s infrastructure, or otherwise taking any action that may negatively affect the performance of our website, Platform or Gambit Custody’s reputation;
b) attempting to gain unauthorised access to our website, Platform or any Custody Account;
c) transmitting or uploading any material to our website or Platform that contains viruses, Trojan horses, worms, or any other harmful programmes; or
d) transferring your Custody Account access or rights to your Custody Account to a third party, unless as required by law or with Gambit Custody’s prior consent. or
20.1.4 paying in to or otherwise supporting pyramid schemes, Ponzi schemes, matrix programmes, “get rich quick” schemes, multi-level marketing programmes or high-yield investment programmes; to:
20.1.5 fraudulent activity, including but not limited to taking any actions that defraud Gambit Custody or a Gambit Custody’s Client, or the provision of any false, inaccurate, or misleading information to Gambit Custody;
20.1.6 transactions involving items that may help facilitate or enable illegal activity; promote or facilitate hate, violence or racial intolerance, are considered obscene, or may be stolen goods or the proceeds of crime;
20.1.7 transactions involving TOR markets, online gambling sites or mixers;
20.1.8 sale or purchase of narcotics or controlled substances; or
20.1.9 intellectual property infringement.
20.2 By opening a Custody Account, you confirm that you will not use your account to undertake any of the above-listed Prohibited Activities or any similar or related activity.
20.3 Unless you have obtained the prior written approval of Gambit Custody, you accept and agree that you will not use your Custody Account to conduct or operate any of the following business activities or categories of activity:
20.3.3 money services, including but not limited to money or Digital Asset transmission, currency or Digital Asset Exchange, Initial Exchange Offering, NFT marketplace or dealing, payment service providers, e-money or any other financial services business;
20.3.4 gambling or gaming services;
20.3.5 charitable or religious / spiritual organisations;
20.3.6 consumer lending services, including but not limited to secured and unsecured loans, cash advances; or
20.3.7 investment funds, asset management, or brokerage services.
20.4 We reserve the right to restrict, suspend or terminate your Custody Account if we suspect, in our sole discretion, that you are using, or have used, your Custody Account in association with any of the activities listed above, or any similar or related activity, without having obtained the prior written approval of Gambit Custody.
21.1 Our website, Platform and the Digital Asset Services are not directed at or intended for distribution to any person where the use of our website, Platform and/or Services would be contrary to applicable law or regulation or would subject Gambit Custody to any registration or licensing requirement in Malaysia. Persons who wish to access our website and/or Platform are required to inform themselves about and to observe any legal or regulatory restrictions which may affect their eligibility to access our website, Platform and/or use the Digital Asset Services.
22.1 Our website & Platform, your Custody Account and any related products or services are offered on a strictly “as-is” and “where-available” basis and Gambit Custody expressly disclaims, and you waive, all warranties of any kind, whether express or implied. Without limiting the generality of the foregoing, our website & Platform, your Custody Account, and any related products or services are offered without any warranty as to merchantability or fitness for any particular purpose.
23.1 In no event shall Gambit Custody or any other affiliates (including their respective directors, members, employees or agents) be liable to you for any direct, indirect, special, consequential, exemplary or punitive damages or any other damages of any kind, including but not limited to loss of profit, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort or otherwise, arising out of or in any way connected with your use of, inability to use, or unavailability of our website, Platform and/or your Custody Account, including without limitation any damages caused by or resulting from any reliance upon any information received from Gambit Custody, or that result from mistakes, omissions, interruptions, deletion of files or email, errors, defects, viruses, delays in operation or transmission or any failure of performance, whether or not resulting from a force majeure event, communications failure, theft, destruction or unauthorised access to Gambit Custody’s records, programmes or services.
In no event will any liability of Gambit Custody or any other affiliates (including their respective directors, members, employees or agents) arising in relation to your use of our website & Platform or your Custody Account.
24.1 To the maximum extent permitted by law, you agree to indemnify Gambit Custody or any other affiliates (including their respective directors, members, employees or agents) against any action, liability, cost, claim, loss, damage, proceeding or expense suffered or incurred directly or indirectly arising from your use of or conduct in relation to our website & Platform and/or your Custody Account, or from your violation of this Terms of Use.
24.2 The Client shall cooperate with and assist Gambit Custody in connection with any investigation, examination or enquiry by any government or regulatory entity. The Client shall promptly provide Gambit Custody with any documents, certification, record or other records it may request in connection with such investigation, examination or enquiry.
25.1 We reserve the right, with or without prior notice to you, to take any one or more of the following actions in the event that you are in breach (or we have reasonable cause to believe that you are in breach) of your use of Gambit Custody or any provision under this Terms of Use, or we have reasonable grounds or suspicion that you are using Gambit Custody or any of its features or promotions in a manner contrary to its intended purpose or is deceased, declared bankrupt, insolvent or enter into liquidation or found to be in default of your debt obligation with any licensed bank by a court of Malaysia or elsewhere:-
25.1.1 We may decline to perform or allow a transaction to be performed or completed.
25.1.2 We may reverse the transactions which have been performed or completed.
25.1.3 We may suspend and/or terminate your Custody Account and the Digital Asset Services.
25.1.4 We may levy a fee or claim damages or other losses from you.
25.1.5 We may report the transaction to relevant authorities or law enforcement agencies.
25.1.6 We may deal with any such trustee, administrator, executive or representative of the courts as in our sole discretion deem fit.
25.1.7 We may take such other action as we may deem necessary or commensurate with the nature or extent of the breach, abuse or misuse.
25.2 The Client shall cooperate with and assist Gambit Custody in connection with any investigation, examination or enquiry by any government or regulatory entity. The Client shall promptly provide Gambit Custody with any documents, certification, record or other records it may request in connection with such investigation, examination or enquiry.
26.1 If you discover any error or discrepancy in your Custody Account, you must contact us within three (3) working days from the date of the disputed transaction, failing which you shall be deemed to have accepted the accuracy of your transaction. In the event that it is revealed in the course of our investigation that the disputed transaction was indeed made in error by us, we will refund the disputed sum accordingly.
26.2 You hereby agree and consent to the use by Gambit Custody and/or its employees, personnel and advisors of any information related to you, the particulars of the transaction(s) or any designated account relating to the transaction(s) for the purpose of investigating any claim or dispute arising out of or in connection with the disputed transaction(s) and that this consent shall survive the termination of the service and/or this agreement. You further agree that in the event of a dispute or claim of any nature arising in respect of any transaction, the records of the transaction(s) generated by us shall be used as a reference and shall be the sole basis of settling the aforesaid dispute or claim.
26.3 In the event of a complaint, please set out the cause of your complaint. We will acknowledge receipt of your complaint if you contact us via email. A Customer Success officer will consider your complaint. Within two (2) working days of our receipt of your complaint, the Officer will address all points raised in your complaint by sending you feedback or to request for additional time to resolve the complaint in no longer than 14 working days.
26.4 If you remain unsatisfied with our response, you may refer the disputes to Securities Commissions by contacting the Consumer and Investor Office as follows:
If you remain unsatisfied with our response, you may refer the disputes to Securities Commissions by contacting the Consumer and Investor Office as follows:
Consumer & Investor Office Securities Commission Malaysia No 3 Persiaran Bukit Kiara
Bukit Kiara
50490 Kuala Lumpur.
Tel: (603) 6204 8999
Fax: (603) 6204 8991
Operating hours: Monday to Friday (other than public holidays)
9.00 am to 6.00pm (local time)
27.1 If you require a refund for any transaction carried out pursuant to the services, you may contact us by email us at support@XXXX.com.my Refund shall be initiated and is subjected to our determining to our satisfaction that your money was wrongly deducted from your account for payment by us due to:
27.1.1 technical error of Gambit Custody where your attempted transaction does not go through; or
27.1.2 wrong amount of Digital Asset was debited from your account.
27.2 The refund shall be done within a month from the date the claim is made by you.
27.3 We reserve our right not to refund any disputed amount to you if we believe you acted in contrary to this Terms of Use and the Custodian Service Agreement.
28.1 The website, Platform and the Digital Asset Services are proprietary to Gambit Custody.
28.2 Except as set out in this Terms of Use, each Client agrees not to modify, copy, reproduce, retransmit, distribute, sell, publish, broadcast, create derivative works from or store Gambit Custody (or any portion thereof, including Gambit Custody source code or data or other information provided via Gambit Custody) without Gambit Custody’s express prior written consent.
28.3 Gambit Custody hereby grants each Client a non-assignable and non-exclusive personal, revocable, royalty-free licence to use Gambit Custody and the Digital Asset Services and to access data and other informational content through Gambit Custody in accordance with this Terms of Use and the Custodian Service Agreement.
28.4 Gambit Custody and its trademarks and logos (whether registered or unregistered) (the “Marks”) are proprietary Marks licensed to Gambit Custody and protected by applicable trademark laws. Nothing contained in this Terms of Use should be construed as granting any licence to or right to use any of the Marks displayed here to a Client without Gambit Custody’s express written consent.
29.1 In accessing Gambit Custody or receiving the Digital Asset Services, the Client may view content (including links to third party websites) (collectively “Additional Content”) provided by parties other than Gambit Custody (“Third Parties”).
29.2 Gambit Custody does not control or endorse any Additional Content and is not liable for any loss or damage suffered or incurred by a Client in relation to any act or omission of such Client arising out of or in connection with any Additional Content, including without limitation material that may be misleading, incomplete, erroneous, offensive, indecent or otherwise objectionable.
29.3 Each Client’s dealings or correspondence with a Third party are solely between that Client and the relevant Third Party. Gambit Custody is not responsible and excludes all liability for any loss or damage suffered or incurred by a Client arising out of or in connection with such dealings.
29.4 Each Client acknowledges and agrees that its use of any Additional Content is at its own risk.
30.1 Entire agreement
30.2 Severability
30.3 Assignment
30.4 Change of control
30.5 Force Majeure
30.6 Survival
30.7 Headings
30.8 English language controls
Gambit Custody Sdn Bhd
A wholly owned subsidiary of Gambit Group Sdn Bhd
Address
J-39-01, Level 39, HCK Tower J, PJU 8, Jalan Damansara, Empire City, 47820 Petaling Jaya, Selangor Darul Ehsan, Malaysia
Operating Hours:
Mon - Fri | 9am to 6pm
Inquiries
hello@gambit.com.my
