WEBSITE DISCLAIMER
The information provided on https://madworld.io/ (“Platform”) (“the Platform”, “we”, “us” or “our”) is provided in good faith, however we make no representation or warranty of any kind, express or implied, regarding the accuracy, adequacy, validity, reliability, availability or completeness of any information on the Platform. UNDER NO CIRCUMSTANCE SHALL WE HAVE ANY LIABILITY TO YOU FOR ANY LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF THE PLATFORM OR RELIANCE ON ANY INFORMATION PROVIDED ON THE PLATFORM. YOUR USE OF THE PLATFORM AND SERVICES PROVIDED BY US AND YOUR RELIANCE ON ANY INFORMATION ON THE PLATFORM IS SOLELY AT YOUR OWN RISK.
EXTERNAL LINKS DISCLAIMER
The Platform may contain (or you may be sent through the Platform) to other websites or content belonging to or originating from third parties or links to websites and features in banners or other advertising. Such external links are not investigated, monitored, or checked for accuracy, adequacy, validity, reliability, availability or completeness by us. WE DO NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR THE ACCURACY OR RELIABILITY OF ANY INFORMATION OFFERED BY THIRD-PARTY WEBSITES LINKED THROUGH THE PLATFORM OR ANY WEBSITE OR FEATURE LINKED IN ANY BANNER OR OTHER ADVERTISING. WE WILL NOT BE A PARTY TO OR IN ANY WAY BE RESPONSIBLE FOR MONITORING ANY TRANSACTION BETWEEN YOU AND THIRD-PARTY PROVIDERS OF PRODUCTS OR SERVICES.
PROFESSIONAL DISCLAIMER
The content available on the Platform does not contain nor constitute investment advice. Any information is provided for general informational purposes only and is not a substitute for professional advice. Accordingly, before taking any actions based upon such information, we encourage you to consult with the appropriate professionals. We do not provide any kind of investment advice. THE USE OR RELIANCE OF ANY INFORMATION CONTAINED IN THE MADWORLD LIGHTPAPER OR OTHERWISE AVAILABLE ON THE PLATFORM IS SOLELY AT YOUR OWN RISK.
TOKEN DISCLAIMER
Purchasing, holding or using cryptographic tokens carries potential financial, regulatory and other risks, including potential loss of the entire value of payment.
Tokens are only for sophisticated purchasers who are knowledgeable and experienced in the features and risks of digital platforms, virtual assets, blockchain technology and smart contracts. Potential purchasers should determine for themselves the relevance of the information contained in this document and related materials, in each case as supplemented from time to time, and the necessity for additional enquiry, research and professional advice. Any decision to participate in a token sale should be based upon such independent investigation and advice as you deem necessary. The MADworld Whitepaper and the content on the Platform should not be considered as recommendation by any person to participate in any token sale or the Platform.
In particular, you should not hold any UMAD tokens unless you have read and understood the MADworld Whitepaper and these disclaimers and fully understand the context of the token sale, including at least the following:
▪ the nature and purpose of the UMAD token and its cryptographic context;
▪ the Terms and Conditions of the Platform;
▪ the procedures required to acquire UMAD tokens;
▪ the nature and the extent of the risks to which you may be exposed by acquiring, holding and transferring UMAD tokens, including those set out in the Risk Disclosure (see below); and
▪ any regulatory, tax and accounting treatment of participating in the token sale and purchasing, holding, transferring or exchanging UMAD tokens, as well as any other relevant implications.
The MADworld Whitepaper is not a prospectus nor a solicitation for investment and it does not pertain in any way to an offering of securities in any jurisdiction.
The UMAD tokens are utility tokens and therefore not intended to constitute securities in any jurisdiction, and the MADworld Whitepaper does not constitute a prospectus or offer document of any sort and is not intended to constitute an offer or sale of securities or a solicitation for investments in securities in any jurisdiction in which such offer or sale or solicitation in unlawful. The contents of the MADworld Whitepaper are not a financial promotion. None of the contents of MADworld Whitepaper serves as an invitation or inducement to engage in any sort of investment activity.
The MADworld Whitepaper has been prepared in good faith to provide a comprehensive overview and roadmap of the MADworld project and the UMAD token and is for information purposes only.
By accessing the MADworld Whitepaper or otherwise seeking to purchase UMAD tokens you are deemed to represent to us that you and any person you represent have complied with these restrictions and you will not provide such document to any person to whom delivery would be unlawful nor use it in connection with any action in any place where such action is not permitted by law. If you have gained access to the MADworld Whitepaper contrary to any of these restrictions, you are not authorised and you cannot seek to nor purchase, hold, or transfer UMAD tokens.
Information Subject to Changes
Along with the development of the Platform, the MADworld Whitepaper may be amended from time to time. Please also note that the MADworld Project itself may be redesigned or otherwise revised in future, if that would be required for any material reasons (including, but not limited to: commercial considerations, technical possibilities, or the need to ensure compliance with any (existing or future) applicable laws and regulations, or any other material reasons). The information in the MADworld Whitepaper and content on the Platform remains subject to change without notice. No responsibility or liability is assumed by us for updating any information in the MADworld Whitepaper and/or the Platform or to inform any recipient of any new or more accurate information or any errors or mis-descriptions of which any member of the Company or its advisers may become aware.
Restrictions from Participation
U.S. Persons, as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), are prohibited from accessing the MADworld Whitepaper and its website. Nothing in the MADworld Whitepaper or its website shall be deemed to constitute an offer, offer to sell, or the solicitation of an offer to buy, any securities in any U.S. jurisdiction. Each person accessing the MADworld Whitepaper or its website will be deemed to have understood and agreed that: (1) he/she/ it is not a U.S. citizen and is located outside of the U.S.; (2) any securities described herein have not been and will not be registered under the U.S. Securities Act or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold or delivered within the United States or to, or for the account or benefit of, U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws.
RESIDENTS OF CERTAIN JURISDICTIONS ARE ALSO RESTRICTED FROM PARTICIPATING IN THE UMAD TOKEN SALE. A LIST OF THESE JURISDICTIONS WILL BE SET OUT ON THE PLATFORM AND MAY BE SUBJECT TO CHANGE AT OUR DISCRETION.
Risk Disclosure
PARTICIPATING IN THE UMAD TOKE SALE, HOLDING UMAD TOKENS AND USING THE PLATFORM INVOLVE RISKS, SOME OF WHICH ARE SET OUT BELOW.
THESE RISKS, AND ADDITIONAL RISKS ARISING EITHER NOW OR IN THE FUTURE, COULD RESULT IN THE FAILURE OF THE UMAD TOKEN SALE, THE DESTRUCTION OF UMAD TOKENS OR THE UTILITY OF UMAD TOKENS, AND/OR THE TERMINATION OF THE DEVELOPMENT OF THE PLATFORM.
YOU MAY LOSE YOUR ENTIRE INVESTMENT OR UMAD TOKENS.
YOU MUST CONSIDER CAREFULLY WHETHER THE RISKS SET OUT BELOW, AS WELL AS ALL OTHER APPLICABLE RISKS, ARE ACCEPTABLE TO YOU PRIOR TO PURCHASING ANY UMAD TOKENS.
YOU SHOULD SEEK PROFESSIONAL ADVICE (LEGAL, TAXATION, FINANCIAL, TECHNICAL OR OTHERWISE) REGARDING YOUR PARTICULAR SITUATION BEFORE PARTICIPATING IN THE UMAD TOKEN SALE, HOLDING THE UMAD TOKENS OR USING THE PLATFORM.
(a) Developmental nature of the Platform
The Platform remains at a developmental stage as of the date and may undergo significant changes before it is released. Various features of the Platform, including (but not limited to) its terms and conditions, fees, structure, purpose, consensus protocol, algorithm, source codes, infrastructure design and other technical specifications and parameters, may be updated and changed frequently without notice.
Further, we may encounter difficulties during development of the Platform, including financial, resourcing and technical difficulties. These difficulties are unpredictable and may be unresolvable.
Development of the Platform may therefore fail, terminate or be delayed at any time for any reason. The Platform or the MADworld Project as a whole may never be realised. Such failure, termination or delay is likely to reduce and may completely obliterate any utility that UMAD tokens may hold.
(b) Development team risk
The development team currently consists of a limited number of individuals. Changes to the team may therefore adversely impact on the creation and establishment of the Platform.
(c) Incomplete information regarding the Platform
You will not have full access to all the information relevant to MADworld and/or the Platform. We are not required to update you on the progress of the Platform. It is possible that you may not be aware on a timely basis of material adverse changes that have occurred with respect to certain of its investments.
(d) Lack of operating history
MADworld is a start-up and has no operating history or track record that could be used (on its own) to evaluate its ability to deliver the Platform. We also face substantial financial and operating risks. We may experience unexpected problems in the areas of product development, marketing, financing, and general management, among others, which frequently cannot be solved. In additional, we may require substantial amounts of financing, which may not be available through institutional private placements, the public markets or otherwise.
(e) No participation rights in the Company attaching to UMAD tokens
UMAD tokens confers no ownership rights of any kind with respect to the capital of the Company nor any rights of payment, remuneration, profit distribution or money reward of any kind.
(f) No assets or property underlying tokens
UMAD tokens confer no ownership interest in any underlying assets or property. Nothing underpins the value of the UMAD tokens other than the prospect of the Platform or the MADworld Project.
(g) Replication, modification or enhancement arising from open source nature of Platform
Anyone could replicate, modify or enhance the technologies that underlie the Platform, and readily create competitors for the Platform. These competitors may be more successful than the Platform.
(h) Potential for misuse of the Platform
Services which may be banned, restricted or deemed immoral in certain jurisdictions may potentially use the Platform. The Platform may potentially be used for activities that are illegal in certain jurisdictions. As a result, governmental authorities or regulators may take action against the Platform. This may deter users from using the Platform or may involve the complete shutdown of the Platform.
(i) Reliance on third-party contractors
Development of UMAD tokens and the Platform, and the operation of the UMAD token sale, will require third-party contractors with particular expertise in blockchain technology. The availability of such contractors is limited. They may be appointed on a formal or informal basis.
If appointed under a service agreement, that service agreement may not be fit for purpose, and may fail to adequately protect us against the loss caused by or arising in respect of the contractor. There may not be sufficient (or any) such contractors available on terms deemed acceptable by us. The costs associated with any such contractors may be significantly greater than currently estimated.
Further, the quality, reliability and timely delivery of services by such contractors may vary significantly.
(j) Utility of UMAD tokens depends on the Platform
he utility of the UMAD tokens depends on the success of the Platform, if developed. The Platform may not be popular or widely used, and the Platform may fail to attract a critical mass of users or become obsolete or inviable as a result of various circumstances, including technical advancement and competitors. Such a lack of use or interest could negatively impact the development of the Platform and therefore the potential utility and value of UMAD tokens.
(k) Competitor success
There are other persons looking to develop a blockchain technologies for enterprises. The Platform seeks to maintain a competitive advantage through its use of new blockchain protocols. Potentially one of these persons could produce, a better, more economical, more accessible, more versatile, more customer friendly or otherwise more favourable product, relative to the Platform. We may make changes to the features and components of the Platform to address market demand and obtain an advantage over comparable products, thus increasing its funding requirements.
It is possible that a comparable product could become popular due to a perceived or exposed flaw of the Platform that is not addressed by the Company effectively and expediently. It could become more popular even if it is not technologically or otherwise superior. There may also be a perceived advantage of a comparable product that includes features not incorporated in the Platform. If this product achieves a significant market share, there may be a range of negative.
(l) Potential for misuse of the PlatformServices which may be banned, restricted or deemed immoral in certain jurisdictions may potentially use the Platform. The Platform may potentially be used for activities that are illegal in certain jurisdictions. As a result, governmental authorities or regulators may take action against the Platform. This may deter users from using the Platform or may involve the complete shutdown of the Platform.
(m) Speculation may drive demand for UMAD tokens
Demand for UMAD tokens may be partially or wholly driven by speculation.
(n) Increase in circulating supply of UMAD tokens
The circulating supply of UMAD tokens may increase. You will not necessarily be notified of any increases in the supply of the UMAD tokens.
(o) Further token sales and development and sale of additional tokens
We reserve the right, from time to time, and without prior notice or consultation, provide additional UMAD tokens and we may develop additional tokens in respect of the Platform, or otherwise raise funding for the Platform through other means we deem necessary. You will not necessarily receive notice of the provision of additional UMAD tokens or of any other tokens or fundraising means.
(p) Volatility of UMAD tokens
The circulation of UMAD tokens is not our responsibility and we are not obliged to support or otherwise facilitate the secondary trading of UMAD tokens. As a result, UMAD tokens may not circulate freely or widely, and may not be listed on any secondary markets.
Even if UMAD tokens do circulate on secondary markets, the value of UMAD tokens may be highly volatile. Factors such as perceptions of the Platform or MADworld, delays in the development of the hi Platform, fluctuations in comparable projects and token sales, market dynamics, regulatory actions and changes, technical advancements, as well as broader economic and political factors, may cause the value of UMAD tokens to fluctuate or change significantly over a short period of time.
In addition, there may be insufficient liquidity to support an active market in UMAD tokens, or the market in UMAD tokens may become susceptible to market manipulation.
(q) Volatility of virtual assets and fiat currencies
Payments are made in virtual assets, USD or other fiat currencies. We may hold the proceeds from the sale of UMAD tokens in virtual assets or fiat currencies, or a combination of any of them. The value of these fiat currencies and virtual assets may fluctuate significantly over a short period of time as a result of market dynamics, regulatory actions and changes, technical advancements, exchange availability and broader economic and political factors. This volatility is likely to impact the funding that is available for developing the Platform and may affect the utility of UMAD tokens.
(r) Concentration of token ownershipAt any point in time, one or more persons may directly or indirectly control significant portions of the total supply of UMAD tokens. Acting individually or in concert, these holders may have significant influence over the Platform. They may make decisions that are not in your best interest as a holder of UMAD tokens.
(s) Legal status of token, token sale and the Platform is pending
The laws of various jurisdictions may apply to UMAD tokens, the UMAD token sale and the Platform. Further the laws governing or in relation to virtual assets and/ or crypto currencies are constantly evolving. The application of these laws and regulations to UMAD tokens, the UMAD token sale and the Platform is largely untested, and is subject to change without notice. In particular, any current governmental or regulatory tolerance of virtual assets can change rapidly, and UMAD tokens may at any time be deemed to be a security, investment, asset or money by governmental authorities or regulators.
On the other hand, new or changing laws and regulations or interpretations of existing laws and regulations may materially and adversely impact the value of the currency in which the UMAD tokens may be exchanged, if applicable, the liquidity of the UMAD tokens, and the structure, rights and transferability of UMAD tokens.
As a result, it is possible that there could be legal disputes over the interpretation of smart contracts used in connection with the Platform, thus undermining the functionality of the Platform and UMAD tokens.
We may receive formal or informal queries, notices, requests or warnings by governmental authorities and regulators. Action may be taken by governmental authorities and regulators against us or the Platform. As a result of such events, we may be required to discontinue the UMAD token sale and/or the Platform.
You may also be subject to governmental or regulatory action by participating in the UMAD token sale, holding of UMAD tokens and/or using the Platform (if and when developed).
(t) Migration to the Platform
Migration of UMAD tokens to another blockchain may or may not occur.It is the Purchaser’s responsibility and decision whether or not to participate in migration. Failure to participate in any migration, by exchanging the UMAD tokens for other virtual assets, or failure of the migration to occur, will affect the tokens utility. We make no warranties in respect of any migration, including that it will be uninterrupted, occur at a particular time (if at all), or be secure or free from error.
(u) Tax treatment and accounting
The tax treatment and accounting of virtual assets is a largely untested area of law and practice that is subject to prospective and retrospective changes without notice. Tax treatment of virtual assets may vary amongst jurisdictions. Your participation in the UMAD token sale, the holding of UMAD tokens or use of the Platform as a result of or in connection with any purchase, grant, delivery, exercise, vesting, distribution, activation, release, holding, use, appreciation, conversion, sale, exchange, redemption, assignment, transfer, disposal, may attract taxes either now or in the future. We may receive formal or informal queries, notices, requests, or summons from tax authorities and as a result we may be required to furnish certain information about the token sale and/or the Platform. You should seek independent professional advice on the tax implications in relation to the UMAD token sale, use of the Platform and/or other transactions for your particular situation
(v) Reliance on the internet
UMAD tokens, the token sale and the Platform rely heavily on the internet. However, the public nature of the internet means that either parts of the internet or the entire internet may be unreliable or unavailable at any given time. Further, interruption, delay, corruption or loss of data, the loss of confidentiality in the transmission of data, or the transmission of malware may occur when transmitting data via the internet.
(w) Reliance on Internet infrastructure
The Platform relies on the infrastructure and reliability of the internet infrastructure of the markets in which it operates. There may not be alternative networks or data servers in the event of failures or interruptions with the internet infrastructure. Any unscheduled service interruption or failure could result in unavailability or limited performance of the Platform.
(x) Reliance on Ethereum
UMAD tokens, the token sale and the Platform rely on Ethereum. Ethereum is open source software that is built upon experimental technology, namely blockchain. As an open source project, we will not be represented, maintained or monitored by an official organization or authority. Risks arising from this reliance include (but are not limited to):
(i) the existence of technical flaws in Ethereum;
(ii) targeting of Ethereum by malicious persons;
(iii) majority-mining, consensus-based or other mining attacks on Ethereum;
(iv) changes in Ethereum’s consensus protocol or algorithms;
(v) decreased community or miner support for Ethereum;
(vi) rapid fluctuations in the value of ETH;
(vii) the existence or development of competing networks and platforms;
(viii) the existence or development of Forked versions of Ethereum;
(ix) flaws in the Solidity scripting language;
(x) disputes between Ethereum developers, miners and/or users; and
(xi) regulatory action against Ethereum developers, miners and/or users.
(y) Conflicts of interest
There may be potential circumstances where the interests of the Company may diverge from those of UMAD token holders. The Company is not obliged to refrain from such decisions in the interests of the Company. By participating in the UMAD token sale, each Purchaser will be deemed to have acknowledged these potential conflicts of interest and to have waived any claim with respect to any liability arising from the existence of any such conflicts of interest.
(z) Unknown risks
There are things that will be discovered in the development process which at this point cannot be predicted. In other words, despite best efforts, The Company may not yet know all the risks that will be associated with the Platform and UMAD token.
(aa) Cryptographic advancements
Developments in cryptographic technologies and techniques, including (but not limited to) the advancement of artificial intelligence and/or quantum computing, pose security risks to all cryptography-based systems including UMAD tokens and the Platform. Applying these technologies and techniques to UMAD tokens and/or the Platform may result in theft, loss, disappearance, destruction, devaluation or other compromises of UMAD tokens, the Platform or your data.
(bb) Source code changes and flaws
The various source codes used in the token sale and (if and when developed) the Platform are subject to change and may at any time contain one or more defects, weaknesses, inconsistencies, errors or bugs.
(cc) No anonymity when using Ethereum
Your participation in the UMAD token sale, holding and transfer of UMAD tokens and/or use of the Platform (if and when developed) will not be anonymous. Your address and such participation will be recorded on an un-permissioned blockchain, namely Ethereum. It is possible to match addresses to identities.
(dd) Inadequate computing resources
The UMAD token sale and the Platform will require intensive computing resources. The demand for these resources may exceed our estimates.
(ee) Loss of private key is permanent and irreversible
You alone are responsible for securing your private key, whether or not we hold the private keys on behalf of you.Losing control of your private key will permanently and irreversibly deny you access to your UMAD tokens. Neither MADworld, the Company nor any other person will be able to retrieve or protect your UMAD tokens. Once lost, you will not be able to transfer your UMAD tokens to any other address or wallet. You will not be able to realise any value or utility that the UMAD token may hold now or in future.
(ff) Targeting of UMAD tokens, the token sale, the Platform and MADworld by malicious persons
UMAD tokens, the UMAD token sale, the Platform and MADworld may be targeted by malicious persons who may attempt to steal UMAD tokens or the sale proceeds, or otherwise intervene in the UMAD token sale, the Platform or MADworld.This includes (but is not limited to) interventions by way of:
(i) distributed denial of service;
(ii) Sybil Attacks;
(iii) phishing;
(iv) social engineering;
(v) hacking;
(vi) smurfing;
(vii) malware;
(viii) Double Spending;
(ix) majority-mining, consensus-based or other mining attacks;
(x) misinformation campaigns; and
(xi) spoofing.
(gg) Targeting of data through the platform
We will have access to a large amount of information through the Platform, and the improper use or disclosure of such information could harm its reputation and/or the operation of the Platform. We may experience security breaches and be subject to attacks, which may compromise the security of the information stored or controlled by us. We may not have the resources or technical sophistication to anticipate or prevent rapidly evolving types of cyber-attacks. Failure to do so would result in a loss in confidence of our business and the Platform.
(hh) Targeting of Purchaser by malicious persons
Malicious entities may target you in an attempt to steal any UMAD tokens or cryptocurrencies that you may hold, or to claim any UMAD tokens that you may have purchased. This may involve unauthorised access to your digital wallet, your private keys, your virtual assets addresses, your Account, your email or social media accounts, as well as unauthorised access to your computer, smartphone and any other devices that you may use.
You alone are responsible for protecting yourself against such actions.
MADworld Privacy Policy Statement
Privacy Policy
At MADworld (the “Platform”, “we” or “us”) we respect personal data and are committed to full implementation and compliance with the data protection principles and all relevant provisions of the Personal Data (Privacy) Ordinance, Cap. 486 ("the Ordinance").
This privacy policy (this “Policy”) outlines how we collect, maintain, process, use, disclose and protect your personal information (“Personal Data”). Personal Data shall include information that directly or indirectly identifies you or by which your identity could be deduced. Protecting your privacy is important to us, and our goal is to maintain your trust and confidence when we handle your Personal Data.
This Policy is applicable to all visitors and users who use or access the Platform, as well as any other persons whose Personal Data is collected, by whatever means, used and held by us.
By accessing and/or browsing and/or using and/or logging in and/or signing up and/or requesting any services and/or receiving and experiencing any services and/or dealing in any manners in this Platform, you acknowledge that this Privacy Policy will apply to you and that you have read, understood and accepted this Privacy Policy. If you are a minor in your jurisdiction or under 18 years old, please consult your parent or guardians in respect of this Privacy Policy.
2. Kinds of Personal Data Collected, Used and Held
2.1 When registering an user account on the Platform or for the purposes token purchase, the personal data we collect may include:-
Government issued ID number;
Copy of government issued ID with photograph;
Expiration Date of government issued ID;
Email;
Physical address;
Date of Birth (DOB);
Birthplace;
Photography;
Credit Card Authorizations;
Citizenship;
Data collected by the cookies specified below.
When submitting a purchase order, the following personal data will also be collected:
Wallet ID where tokens are to be sent to;
Amount sent in USDC/USDT;
Official timestamp of transaction;
Transaction hash;
Date.
In case you choose not to share certain personal data with us, we may not be able to offer or perform some or all our services insofar as these personal data are obligatory and/ or necessary by the law or for the performance of our services (for example, applicable anti-money laundering laws and regulations).
2.2 When you use our services on your mobile device, or features such as two-factor authentication, we may also collect your phone number. We may associate that phone number to your mobile device identification information.
2.3 Personal Data shall be provided by you to us at your own will. The information set out in Clause
2.1 are mandatory for our purpose of creating your user account and providing our services to you. Notwithstanding the foregoing, we reserve the right to refuse your account registration.
3. Public Profile
3.1 We collect artist’s registered name and links to his/her social media accounts which will/ may be displayed in the artist’s public profile, which are available and accessible to those who access the Platform.
4. Purpose of Personal Data to be Collected
4.1 Personal Data and information collected from you will be used by the Company for the following purpose: -
(a) Signing Up, Registration and Identification:
(i) To create, sign in and register a user account on the Platform;
(ii) To verify and ascertain your identity as a user in the Platform; and
(iii) To allow you to participate in interactive features of our services, when you opt to do so.
(b) Providing Services: To provide services to you on the Platform, including sending you notifications (e.g., notifications of offers on your digital assets or changes to our services), responding to your inquiries, comments and other requests;
(c) Business, Marketing and Statistics: to carry out statistics and data analysis to improve and enhance our services and develop our marketing strategies. We may conduct research on our customer demographics, interests and behavior based on the information collected;
(d) Profiling: To build up the Artist’s public profile;
(e) Compliance: To monitor compliance with our Terms & Conditions, our AML Policy and applicable KYC/AML laws and regulations, to prevent fraud and other prohibited or illegal activities as well as to protect the rights and safety of the Company, our Affiliates and third parties;
(f) Administration: to administer the Platform for internal operations, including troubleshooting, data analysis, testing, research and survey purposes, and as part of our efforts to keep the Platform safe and secure; and
(g) Direct Promotion and Marketing: Upon obtaining your consent, we may use your Personal Data for marketing or contact you from time to time to share promotional or marketing information in respect of the Platform.
5. Transfer of Personal Data
5.1 We use the information we collect to set up our services. We may also use the information to contact Users and prospects to further discuss their interest in our company, the services we provide, ways we can improve our services, and send information such as announcements of promotions and events regarding MADworld, our group companies or our business partners. We may disclose and share your Personal Data to third parties for the following purposes:5.1.1 We may share some or all of your Personal Data with our parent company, subsidiaries, joint ventures or other companies under a common control (“Affiliates”), in which case we will require our Affiliates to honor this Privacy Policy.
5.1.2 We may share Personal Data, as necessary, with counterparties involved in your trading activities on the Platform in order to execute those transactions, or otherwise for the purposes of enforcing or applying our Terms & Conditions, our AML Policy or other relevant agreements or Company’s policies.
5.1.3 We may share Personal Data with our agents, third party service providers and our business partners assisting our provision of the services to you.
5.1.4 We may disclose Personal Data where we are required by law to do so, or to protect the rights, property, or safety of our Company, our Affiliates, our users or customers or other third parties, which includes but not limited to exchanging information with other companies and organizations for the purposes of fraud protection and credit risk reduction.
5.1.5 We may disclosure Personal Data as may otherwise be outlined in this Privacy Policy.5.2 Save for Clause 5.1 above, all other transfers of your Personal Data to third parties will be subject to your prior consent in writing, unless we are required by law, or if we must disclose the data to enforce our claims to third parties, who are obligated to maintain secrecy.
6. Data Collected Automatically
6.1 Commercial activities, such as trading activity, order activity, deposits, withdrawals, account balances will be automatically stored and collected by the Platform.
6.2 When you use the Platform, we also receive and store certain information such as your IP address, device ID, and your activities within the Platform. We may store such information or such information may be included in databases owned and maintained by affiliates, agents or service providers. The Platform may use such information and pool it with other information to track, for example, the total number of visitors to the Platform, the number of messages users have sent, as well as the sites which refer visitors to MADworld.
6.3 This data we collect automatically may be compiled and analyzed anonymously, and we may share this anonymous data with our affiliates, agents and business partners. We may also disclose aggregated user statistics in order to describe our services to current and prospective business partners, and to other third parties for other lawful purposes.
7. Retention of Data and Information
7.1 We will retain all your Personal Data, transaction records and other account information so long as is necessary for the fulfilment of
(i) the purposes for which they were collected and
(ii) of the legal requirements, after which they will be removed and destroyed.
7.2 You hereby acknowledge that your information and data are stored and maintained in our electronic database, facilities, servers and back-up servers which may be located outside your country, where the legal protection and standard of security requirements may not be equivalent to the same provided by and legally required by the applicable laws and regulations of your country.
7.3 At any time, if you desire to erase any of your information or data from our electronic databases, facilities, servers and/or back-up servers, please contact us.
8. Accuracy and Change of Personal Data
In order to ensure the correctness and accuracy of your Personal Data, particularly your contact details retained by us, you may receive from time to time our request of confirmation, verification and/or update of your information and data. You can also from time to time request us to correct and/or change your Personal Data held by us.
9. Handling and Security Measures
9.1 Save as stated herein, Personal Data and information we collect about you will not be disclosed to any other party without your prior approval.
9.2 We may retain your Personal Data as long as you continue to use our services, have an account with us, or for as long as is necessary to fulfill the purposes outlined In this Privacy Policy or required under applicable laws.
9.3 We have established in place security measures and monitoring procedures to prevent unauthorized or accidental access, processing, erasure, loss or use of the data. We shall at all times use our best endeavors to ensure that personnel with access to Personal Data will adhere to all necessary procedures for ensuring compliance with applicable legal requirements for data protection.
9.4 Our security measures are listed below:
(a) Controls on password complexity, any password must consist of at least 8 characters, re-tries or resets are implemented to prevent passwords from being compromised;
(b) Advanced encryption technology is used to protect the safety of Personal Data during transmission.;
(c) Only the personnel that have been trained with the strict privacy guidelines and procedures are authorized to access or handle your Personal Data. Such personnel are accountable for non-compliance with the related obligations; and
(d) The security system will be reviewed regularly.
10. Third-Party Platforms
10.1 After clicking on any advertisements or any hyperlinks on the Platform, you may have left the Platform and be diverted to the platforms of our advertising clients, content providers, suppliers, business partners or other third parties. When you leave the Platform, our agreements and policies under this Privacy Policy are not in effect. We may, but are not obligated to warn you that you are leaving the Platform.
10.2 Some transactions on the Platform may be facilitated and run by third party payment gateways. Any such transactions are governed by the terms of services and privacy policy of the third-party platforms.
10.3 You acknowledge that your visit to these third-party platforms is not protected by this Privacy Policy. We do not own or control those third-party platforms.
10.4 We have not authorized these third-party platforms to collect any information or data from you. You understand and agree that your use of any third-party platform is subject to any terms of use and/or privacy policy provided by such third-party platform. We are not a party to any such agreements. You should review any term of use and/or privacy policy provided by third-party platforms and should make whatever investigation you feel necessary or appropriate before proceeding with any transaction with any third party. You acknowledge we are not responsible for any exposure of your data at these platforms or losses arising from a third-party platform’s practice or policy.
10.5 We provide these third party platforms only as a convenience and does not review, approve, monitor, endorse, warrant, or make any representations with respect to third party platforms, or their products or services. You use all links in third party platforms at your own risk. For avoidance of doubt, we do not endorse the contents, the privacy policies or their security measures in respect of personal information and data collected by any third-party platforms.
11. Cookies
We may use “Cookies” to improve our internet service and enhance your online experience. Cookies are small file that are automatically stored on your web browser in your computer that can be retrieved by the Platform. Cookies may be used to remember you and your preferences when you visit the Platform and enable us to tailor the Platform to your needs. The information collected by Cookies is anonymous visitor’s personalized settings information and contains no full name or address information or any information that will enable anyone to contact you via telephone, email or any other means. We will not collect any Personal Data from you when the cookies are being used. You can disable cookies by changing the settings of your web browser. Cookies cannot be used to run programs or deliver viruses to your computer and/or device.
12. Limitation of Liability
We have implemented reasonably practicable procedures, measures and steps to safeguard the security of your Personal Data. However, no method of transmission over the Internet, or method of electronic storage, is impenetrable and we cannot guarantee the absolute security of our systems. In the event any Personal Data is compromised as a result of a breach of security which is not a result of our act or omission, we will not be liable for your resulting losses and damages, whether direct or indirect, but will use our best endeavors to mitigate such losses in accordance with applicable laws.
13. Social Media Widgets
Our Platform may include Social Media Features, such as the Facebook button and widgets, such as the Share this button or an interactive mini-programs that run on our site. These features may collect your IP address, which page you are visiting on our site, and may set a cookie to enable the Feature to function properly. Social media features and widgets are either hosted by a third party or hosted directly on the Platform. Your interactions with these features are governed by the privacy policy of the company providing it
15. Changes in this Privacy Policy
We may update or amend this Privacy Policy in the future, if necessary. The revised Policy will be posted on the Platform with an effective date and/or by our email to you.
16. Access to Personal Data
You have the right to request for access to and copy of, and correction and updating of your information and data held by us. If you wish to exercise these rights, please contact us.
17. Contact UsIf you have questions, concerns or suggestions related to our Privacy Policy or our privacy practices you may contact us. For any questions regarding your rights or if you believe that someone has provided us with your personal information and you would like to request that it be removed from our database, you can contact us via the above email.
User Consent (for Direct Marketing)
Your name, phone number, and the email address collected by us will be used for providing you with information in relation to the promotion and direct marketing of our products and/or services.
We cannot use your Personal Data unless we have received your consent or indication of no objection.
If you do not wish to receive information on the above, please unsubscribe from our mailing list or Text STOP to opt-out from our SMS list.