Baltex Terms

1. General Provisions

Baltex ("Baltex," "we," "us") provides non-custodial cryptocurrency exchange services. By accessing or using our website, widgets, APIs, or applications (the "Service"), you agree to these Terms of Service (the "Terms"). We may modify these Terms at our discretion; changes take effect upon posting on our site. Continued use constitutes acceptance.

2. Use of Service

You represent and warrant that you are at least 18 years old (or the age of majority where you reside), have legal capacity, and will comply with applicable laws and regulations. You may not use the Service for money laundering, terrorist financing, fraud, sanctions evasion, market manipulation, ransomware, darknet activity, or to conceal illicit origin of funds. Availability may be restricted where cryptocurrency activity is prohibited or limited by law.

Baltex Terms

1. General Provisions

Baltex ("Baltex," "we," "us") provides non-custodial cryptocurrency exchange services. By accessing or using our website, widgets, APIs, or applications (the "Service"), you agree to these Terms of Service (the "Terms"). We may modify these Terms at our discretion; changes take effect upon posting on our site. Continued use constitutes acceptance.

2. Use of Service

You represent and warrant that you are at least 18 years old (or the age of majority where you reside), have legal capacity, and will comply with applicable laws and regulations. You may not use the Service for money laundering, terrorist financing, fraud, sanctions evasion, market manipulation, ransomware, darknet activity, or to conceal illicit origin of funds. Availability may be restricted where cryptocurrency activity is prohibited or limited by law.

3. AML and KYC Compliance

Baltex maintains a risk-based Anti-Money Laundering (AML) and Know Your Customer (KYC) compliance program designed to prevent illicit finance while respecting user privacy and applicable law.

3.1 AML Screening Infrastructure

Baltex uses a licensed blockchain analytics provider as its primary risk intelligence engine. All transaction and wallet address screenings are performed using the provider's risk scoring system, which aggregates data from global intelligence sources including law enforcement feeds, sanctions databases, darknet monitoring, and fraud intelligence networks.

3.2 Risk Score Model and Blocking Threshold

All transactions are subject to automated AML screening in both directions — the incoming deposit address and the outgoing destination address.

A transaction is automatically flagged and temporarily suspended if the cumulative exposure to any of the following critical risk categories:

• Darknet markets
• Sanctions / OFAC-designated entities or jurisdictions
• Stolen funds / exchange hacks or protocol exploits
• Ransomware payment wallets
• Mixers and tumblers
• Terrorism financing
• Fraud and scam operations

The rule applies independently to both the source (incoming) and destination (outgoing) address. A flag on either direction is sufficient to trigger a compliance review. Transactions that are stopped for additional verification are suspended and referred to the Baltex compliance team for manual case-by-case review.

3.3 Verification Triggers

Identity verification (KYC) and/or enhanced due diligence (EDD) may be requested at the compliance team's discretion when:

• the automated risk screening flags a transaction at or above the defined threshold;
• transaction values are unusually large or behavioral patterns appear inconsistent;
• there are indications of sanctions exposure, PEP involvement, adverse media, or high-risk geography;
• there are concerns about source of funds or asset provenance; or
• applicable law or internal policy requires verification.

KYC and SoF requests are not automatically triggered in every flagged case and are issued based on the nature of the individual review.

3.4 Identity and Information We May Request

Where verification is required, we may request any combination of the following depending on the case:

• Full name, date of birth, and residential address
• Government-issued photo ID (passport or national ID card)
• Selfie or liveness verification
• Proof of residential address (utility bill, bank statement)
• Proof of wallet ownership
• Source of funds documentation (bank statements, payroll records, transaction history)

We may request re-verification on a periodic or event-driven basis.

3.5 Screening and Analytics

Transactions and wallet addresses are screened using blockchain analytics, sanctions and watchlist screening, behavioral monitoring, and other risk-detection tools. Screening occurs pre-transaction, during processing, and post-transaction for ongoing risk management.

3.6 Sanctions, PEPs and Restricted Jurisdictions

We do not provide the Service to persons or entities subject to applicable sanctions or located in prohibited jurisdictions. We may restrict or deny access at our discretion to manage PEP exposure, high-risk geographies, or other compliance concerns.

3.7 AML Review Process and User Notification

When a transaction is flagged, it is temporarily suspended and referred to the Baltex compliance team for case-by-case review. The review process follows these stages:

1. Automatic flag — transaction suspended immediately upon detection of a risk threshold breach
2. Initial review — compliance team assessment within 24–48 hours of the flag
3. Document request (if applicable) — user may be asked to provide KYC/SoF documentation at the compliance team's discretion
4. Decision — transaction approved, refunded, or retained as required by law

Where the user has provided an email address at the time of order creation, Baltex will send a notification to that address if their transaction is flagged for compliance review. Users who did not provide an email and have not received their funds within the expected processing window are encouraged to contact support proactively via [email protected] or through the live chat on the website.

3.8 Refunds Following AML Review

Where a flagged transaction is cancelled following a compliance review and a return is lawful and technically feasible, funds will be returned to the original deposit address from which they were received within 7 business days of the compliance decision.

Baltex does not charge any operational or service fee on AML-related refunds. The only amount deducted from the returned funds is the applicable blockchain network fee required to execute the return transaction. This fee reflects current network conditions and is not retained by Baltex.

Where Baltex is legally required to retain funds — including as a result of a court order, regulatory instruction, or ongoing law enforcement investigation — the refund will be withheld until the legal obligation is resolved. Baltex will notify the affected user to the extent permitted by applicable law.

Recovery of unsupported assets, assets sent on the wrong network, or assets sent below the minimum transaction amount is not guaranteed and may not be possible.

3.9 Transaction Integrity and Address Quality

Baltex organizes all incoming and outgoing transactions to ensure the quality and legitimacy of assets transferred to clients:

• Unique deposit addresses — a single-use deposit address is generated for every individual order and is never reused across orders
• Fund consolidation — upon order completion, received funds are consolidated to Baltex's main hot wallet infrastructure
• Tagged hot wallets — Baltex's main hot wallet addresses are registered and tagged in recognized blockchain intelligence platforms and block explorers, identifying them as belonging to Baltex
• Outgoing fund sources — all outgoing funds sent to users are sourced exclusively from Baltex's tagged hot wallets or from the verified addresses of licensed liquidity providers integrated with Baltex
• Dual-direction screening — AML screening is applied to both the incoming deposit address and the outgoing destination address for every transaction

3.10 Recordkeeping and Retention

AML-related transaction records, KYC documentation, and compliance decisions are retained for a minimum of five (5) years in accordance with applicable law, and up to ten (10) years where jurisdiction-specific requirements apply. We retain only what is necessary for compliance, audit, fraud prevention, and security.

3.11 Lawful Requests and Reporting

We may cooperate with lawful requests from competent authorities and may file reports where required by law. We may notify users of such requests where legally permitted and appropriate.

3.12 Policy Updates

We may update AML/KYC controls and procedures without notice to reflect changes in law, risk typologies, or operational needs. Material changes to how your personal data is processed will be reflected in our Privacy Policy.

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4. Transaction Terms & Conditions

4.1 Exchange Rates

• Fixed Rate: The displayed exchange rate is guaranteed for a limited time window. If the deposit is not confirmed within that period, the rate will be recalculated based on the prevailing market conditions.
• Floating Rate: The final amount is determined by the market rate at the time of execution and may vary due to market volatility and slippage. In some cases, the final amount may deviate by up to 5% from the initially displayed estimate.

4.2 Transaction Limits

• Minimum: Dynamically set with reference to network fees. Transactions below the minimum may be refunded at our discretion; if network fees exceed the deposit, a refund may be impossible.
• Maximum: Limits may apply. Exceeding them may result in rejection or reversal (fees may apply).

4.3 Deposit Window

You must fund the deposit address within the specified timeframe. Late funding may result in cancellation or adjusted terms.

4.4 General Conditions

We may decline, refund, or impose fees on non-compliant transactions without prior notice and adjust terms (e.g., rates, limits) based on market or network conditions. You are solely responsible for verifying all transaction details before sending funds.

5. Fees and Penalties

If you fail to include a required identifier (e.g., memo, destination tag), refunds (if feasible) are processed only for amounts above $50 and may incur a $50 processing fee plus network fees. Refunds related to other user errors (e.g., wrong chain or address) may incur the same fees.

For clarity, the fees described in this Section 5 apply to user errors and are distinct from AML-related refunds. AML-related refunds are governed exclusively by §3.8 and are subject only to applicable blockchain network fees.

6. Limitation of Liability

The Service is provided "AS IS" and "AS AVAILABLE." To the fullest extent permitted by law, Baltex is not liable for indirect, incidental, special, consequential, exemplary, or punitive damages; loss of profits, data, use, or goodwill; or the cost of substitute services. Baltex is not responsible for issues arising from blockchain networks, market conditions, system outages, or events beyond our control.

7. Suspension and Termination

We may suspend or terminate access without notice for violations of these Terms, suspected illicit activity, security concerns, failure to complete verification, or as required by law.

8. Governing Law

These Terms are governed by the laws of Costa Rica, without regard to conflict-of-law principles. Venue and forum shall be the competent courts of Costa Rica unless mandatory law provides otherwise.

9. Privacy

We collect and process data as described in our Privacy Policy to operate the Service, meet compliance obligations, prevent fraud, and improve user safety.

10. Refund Policy

Refunds due to system errors or unfulfilled transactions are processed within a reasonable period. Refunds related to user errors are subject to the fees described in Section 5 and applicable network charges.

11. Intellectual Property

All intellectual property in the Service (including software, code, content, designs, and branding) is owned by Baltex or its licensors. We grant you a limited, revocable, non-exclusive, non-transferable license to use the Service as intended.

12. Transaction Procedures

Each transaction is assigned a unique deposit address. You must send the exact asset, chain, and amount within the time shown. Recovery of mis-sent funds (if possible) may incur fees and is not guaranteed. Completion times depend on blockchain confirmations and any required compliance checks.

13. Indemnification

You agree to indemnify and hold harmless Baltex, its affiliates, and personnel from claims, losses, damages, liabilities, and expenses arising from your use of the Service or breach of these Terms.

14. Force Majeure

We are not liable for failures or delays caused by events beyond our reasonable control, including natural disasters, acts of government, regulatory changes, network attacks, protocol failures, widespread outages, or other force majeure events.

15. Risk Disclosure

Digital assets carry risks including extreme volatility, regulatory uncertainty, technological defects, irreversible transactions, and potential loss of value. You assume all risks associated with your use of the Service.