Detailed Rules for Advertisers' Management and Penalty
|
Type |
Behavior |
Once |
Total of Two Times |
Total of Three Times |
|
Payment and receipt of funds violations |
Upon verification, the Advertiser receives payment from users whose accounts do not match the verified name of the Platform account, or whose true identity cannot be verified |
Warning |
Banned from trading for 24 hours |
Disqualification |
|
Users complain that Advertisers clicked on Payment Completed even when they have not made a payment |
Warning |
Banned from trading for 24 hours |
Banned from trading for 48 hours | |
|
Users complain that the Advertiser makes a payment using an account that does not match the verified name of the Platform account, or that this act has a negative impact on the Platform. |
Banned from trading for 24 hours |
Banned from trading for 72 hours |
Disqualification is based on the severity of the circumstance | |
|
Advertisers' payment and receipt of funds via corporate or institutional accounts are considered non–real name transactions |
Warning |
Banned from trading for 48 hours |
Disqualification | |
|
After being notified by users, the Advertiser provides incorrect payment methods and does not provide the correct ones during the transaction. |
Warning |
Banned from trading for 24 hours |
Banned from trading for 72 hours | |
|
Type |
Behavior |
One Month/Two Consecutive Months | ||
|
|
Within a 30-day period, more than 30 fraudulent cancellations |
Trading is banned for 24 hours/disqualification | ||
|
Type |
Behavior |
Depending on the severity of the circumstance | ||
|
|
The payment by the Advertiser, as the buyer, results in the freezing of the accounts of other users and the Advertiser fails to respond to the user within 24 hours of notification (failure to process within the time limit, restriction on the purchase function of the account) |
All advertisements are closed, their publication is restricted, or they are disqualified. | ||
|
Risk control triggered |
It is established that the Advertiser's payment to the user results in law enforcement agencies freezing the user's bank card and other financial accounts. |
Restrictions on ad publishing or disqualification | ||
|
After the risk control system detects discrepancies, the Advertiser expressly declines or does not actively participate in additional anti-money laundering review tasks required by the Platform's risk control. |
Disqualification | |||
|
|
The Advertiser uses the same bank card account on our Platform when trading on other P2P Platforms, and the money received is used directly for payment on our Platform, resulting in law enforcement agencies freezing users' accounts. |
All advertisements are closed, their publication is restricted, or they are disqualified. | ||
|
|
The Advertiser sells coins via alternative accounts or affiliate accounts and transfers funds directly to other Advertisers. |
All ads have been withdrawn, had their publication restricted, or been disqualified | ||
|
|
The Platform has reasonable grounds to believe that the Advertiser is directly involved in or aids the management of problematic funds or assets. |
Account suspension, disqualification, affiliate account suspension, and referral to appropriate law enforcement agencies | ||
|
|
The Advertiser shall not introduce users to this Platform who are involved in Ponzi schemes, pyramid schemes, or romance scams. The Advertiser shall not transfer funds to the accounts of other Platform users if the Advertiser knows or reasonably infers that the funds received from other Platforms or WeChat groups are considered illegal. |
Disqualification, freezing of affiliate accounts, and referral to the appropriate law enforcement agencies | ||
|
Type |
Behavior |
Once |
Total of Two Times |
Total of Three Times |
|
Other Nonconformities |
The Platform determines that the Advertiser is using alternative accounts or is encouraging others to do so, and obstructs orders, delays payment, and/or performs repeated transactions. |
Trading is banned for 24 hours |
Disqualification |
|
|
The Platform has determined that the Advertiser transmits sensitive information, or tests the card by transferring funds to other Advertisers on the Platform using the accounts of other people. |
Banned from trading for 48 hours |
Disqualification |
| |
|
The Advertiser does not release the token within 30 minutes of receiving notification from customer service that the user has made the payment. |
Warning |
Banned from trading for 24 hours |
Banned from trading for 48 hours | |
|
The Advertiser is engaged in serious verbal conflict or other unethical behavior with Platform users or staff. |
Warning |
Banned from trading for 24 hours |
Disqualification | |
|
The Advertiser is screened by the Platform's risk control team and determined to have rushed to place low-price orders, or to have been involved in the settlement process. |
Warning |
Disqualification |
| |
|
The Advertiser is determined by risk control to have made purchases on behalf of others. |
Ads may be restricted or disqualified, depending on the severity of the circumstances | |||
|
Risk control verifies, or users report, unusual order advertisements (for example, the minimum and maximum amounts are close: 30,193 and 39,013; the minimum amount of a single transaction is set in conjunction with the maximum number of order receipts; risk control determines other abnormal advertisements) |
Warning and Closing Advertisements |
Banned from trading for 48 hours |
Disqualification | |
|
The Platform determines that the Advertiser has received more payments from the users, and has deliberately delayed the process |
Banned from trading for 24 hours |
Banned from trading for 72 hours |
Disqualification | |
|
The Platform determines that the advertising party underpaid the user and did not actively manage it |
Warning and banned from trading for 24 hours |
Disqualification |
| |
|
An advertisement shall be deemed as invalid if an advertisement is placed on the market that is buy high/sell low, and the advertisement conditions and limits are set very high, preventing users from placing orders. |
Warning and banned from trading for 24 hours |
Disqualification |
| |
|
Type |
Behavior |
Once |
Total of Two Times |
Total of Three Times |
|
Customer service intervened in filing the order complaint |
While the advertisement was online, the cell phone number bound to the Platform could not be turned off or shut down, the order did not release coins within the required time, and two user’s orders complaints were collected. Customer service intervened and contacted the Party on multiple occasions for 15 minutes. After customer service’s intervention, the Party still had not accepted the order, completed the payment, and canceled the order within the required time. At least thirty (30) users' order complaints were collected, and the Party failed to answer several times after five (5) minutes of customer service staff’s calls. |
Close all advertisements and banned from transactions for 24 hours |
Close all advertisements and banned from transactions for 48 hours |
Disqualification |
|
Malicious Claim: 1) Buyer fails to pay but clicks on the File Order Complaint button when the seller's receiving method is standard. 2) The seller does not release the order but clicks on the File Order Complaint button when the buyer has not violated the law |
Warning |
Banned from trading for 48 hours |
Banned from trading for 72 hours | |
|
The Advertiser's payment account was abnormal, and the Advertiser needed to provide a new method to receive payments. After receiving payment, the Advertiser did not release the order within 30 minutes. The user then filed an order complaint. |
Warning |
Banned from trading for 48 hours |
Banned from trading for 72 hours | |
|
The payment account provided by the Advertiser is unusual, and the Advertiser does not provide a valid payment method in time. The user is unable to complete the payment and files a complaint. |
Warning |
Banned from trading for 24 hours |
Banned from trading for 72 hours | |
|
As the seller, the Advertiser cancels or delays the order over time after the buyer's transfer is completed. The seller fails to address the issue, even after customer service intervenes with an agreed method. |
Warning to restrict advertising permissions until the process is completed |
Banned from trading for 48 hours |
Disqualification | |
|
As the seller, the Advertiser received a payment from a counterparty who did not use their real name and failed to cancel the order as required. The Advertiser failed to complete the refund operation within 24 hours of receipt of payment |
Warning to restrict advertising permissions until the process is completed |
Banned from trading for 48 hours |
Disqualification | |
|
Received three (or more) user complaints per week stating that the Advertiser did not manage orders in a timely manner within eight (8) minutes after accepting the complaint. |
Chat group is notified, all advertisements are banned, and transactions are banned for 24 hours |
Banned from trading for 72 hours |
Disqualification | |
15. Limitation and Exemption of Liability
The advertising party shall follow the limitations and exclusions of liability agreed to in the Platform's User Service Rules and shall carefully read and comply with the following exclusions or limitations of liability:
You shall pay attention to anti-money laundering risks, due to the complexity of OTC funds and the specialty of digital asset transactions. In order to ensure the safety of your own transactions and assets, you must conduct transactions in strict compliance with these procedures and rules, as well as verify and authorize the counterparty's identity pursuant to KYC and anti-money laundering requirements. You may face the risk of having your assets frozen if the counterparty is suspected of a crime. The Platform does not assume any responsibility for the resulting losses.
The Platform only provides integrated information services for digital asset P2P transactions, and the buying and selling behaviors and transactions on the Platform are all completed independently and spontaneously by users. The Platform is not involved in the transaction process. You shall independently assume any risks and subsequent losses should you violate Platform transaction rules and agreements. We shall not assume any liability for indemnification. The Platform also does not endorse the Advertiser's brand or credit for any violations of the rules. The Platform does not assume any joint liability for any adverse consequences arising from the Advertiser's own actions.
In order to prevent criminal entities from using this Platform to engage in illegal activities, such as money laundering, foreign exchange fee avoidance, and arbitrage in a disguised form, the Advertiser should avoid introducing illegal OTC assets into this Platform (in particular, the Advertiser should perform risk identification control of the counterparty and effective isolation of the asset account when performing trans-Platform coin withdraw P2P transactions with liberty). The Platform has the right to take a number of punitive measures against the advertising party, including but not limited to account restriction, freezing of account, advertising disqualification, and referral to law enforcement agencies if the Platform confirms that the advertising party is suspected of using the Platform to carry out various forms of illegal or immoral behavior (such as intentionally renting or buying out multiple cards for others for money laundering transactions, or trading U.S. dollars in the bulk area, or areas prohibited by the Platform, without authorization). The Platform shall not be liable for any losses incurred by the advertising party or any related third party.
The Platform does not encourage the advertising party to rent, buy or sell multiple cards for other parties to perform transaction activities arbitrarily:
(1.) The Platform is not responsible for any resulting losses, should the actual owner of the cards suffer any losses due to the Advertiser performing money laundering activities by renting, buying or selling cards for others. The Platform has the right to directly report the Advertiser to law enforcement agencies if the Platform has confirmed that the Advertiser has participated in any of these activities. The Platform shall not bear any responsibility for adverse consequences caused to the Advertiser.
(2.) You shall actively cooperate with users to unfreeze their card(s) if you have previously used a card borrowed or purchased from another user to make transactions, and their card is subsequently frozen by law enforcement agencies, despite being valid at the time the transaction was made. The Platform has the right to deduct any indemnification paid for user losses from your assets, and shall not assume indemnification liability for any losses you suffer as a result of your failure to fulfill your obligations.
In order to ensure the verification of KYC identity information, the Platform may contain links to third-party websites (e.g., online banking websites) (hereinafter referred to as "Linked Sites"). The "Linked Sites" are not under the Platform’s control. The Platform does not guarantee or promise any information, products, business, or content that does not belong to the Platform. It is your own decision to use any services, information, and products provided by third-party websites. Therefore, you shall assume all resulting liability.
Miscellaneous
This Agreement shall take effect from the date of the issuance. It shall be terminated on the date when you have either fulfilled your obligations under this Agreement, or your Advertiser eligibility is revoked.
If you have any questions or disagree with this Agreement, please get in touch with us on this form.
The final right of interpretation of this agreement belongs to the Platform.