Responsible Risk Disclosure Policy
This document provides you with information about the risks associated with investment
products in which you may invest through the services provided to you by EZCoin.
Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit
of account, or a store of value, but it does not have legal tender status. Cryptocurrencies are
sometimes exchanged for FIAT currencies around the world, but they are not generally backed
or supported by any government or central bank. Their value is completely derived by market
forces of supply and demand, and they are more volatile than traditional currencies. The value of
cryptocurrency may be derived from the continued willingness of market participants to
exchange fiat currency for cryptocurrency, which may result in the potential for permanent and
total loss of value of a particular cryptocurrency should the market for that cryptocurrency
disappear.
Regulatory Landscape
Cryptocurrencies currently face an uncertain regulatory landscape in many jurisdictions. In
addition, many cryptocurrency derivatives are regulated by the provisions of national and supranational (i.e. EU) securities legislation; moreover, some state securities regulators have cautioned
that many initial coin offerings are likely to fall within the definition of a security and subject to
their respective securities laws. One or more jurisdictions may, in the future, adopt laws,
regulations or directives that affect cryptocurrency networks and their users. Such laws,
regulations or directives may impact the price of cryptocurrencies and their acceptance by users,
merchants and service providers.
Legislative and regulatory changes or actions at the state, federal, or international level may
adversely affect the use, transfer, exchange, and value of cryptocurrency.
Purchasing cryptocurrencies comes with a number of risks, including volatile market price
swings or flash crashes, market manipulation, and cybersecurity risks. In addition,
cryptocurrency markets and exchanges are not regulated with the same controls or customer
protections available in equity, option, futures, or foreign exchange investing. There is no
assurance that a person who accepts a cryptocurrency as payment today will continue to do so in
the future.
Investors should conduct extensive research into the legitimacy of each individual
cryptocurrency, including its platform, before investing. The features, functions, characteristics,
operation, use and other properties of the specific cryptocurrency may be complex, technical, or
difficult to understand or evaluate. The cryptocurrency may be vulnerable to attacks on the
security, integrity or operation, including attacks using computing power sufficient to overwhelm
the normal operation of the cryptocurrency’s blockchain or other underlying technology. Some
cryptocurrency transactions will be deemed to be made when recorded on a public ledger, which
is not necessarily the date or time that a transaction may have been initiated.
Cryptocurrency trading requires knowledge of cryptocurrency markets. In attempting to profit
through cryptocurrency trading you must compete with traders worldwide. You should have
appropriate knowledge and experience before engaging in substantial cryptocurrency trading.
Any individual cryptocurrency may change or otherwise cease to operate as expected due to
changes made to its underlying technology, changes made using its underlying technology, or
changes resulting from an attack. These changes may include, without limitation, a “fork,” a
“rollback,” an “airdrop,” or a “bootstrap.” Such changes may dilute the value of an existing
cryptocurrency position and/or distribute the value of an existing cryptocurrency position to
another cryptocurrency.
Blockchain Risks
Since blockchain is an independent public peer-to peer network and is not controlled in any way
or manner by EZCoin, and we shall not be responsible for any failure and/or mistake and/or error
and/or breach which shall occur in the EZC blockchain ecosystem or in any other networks in
which the EZCoin Coin may be used and/or traded. You will be bound and subject to any change
and/or amendments in the blockchain system and subject to any applicable law which may apply
to the blockchain. We make no representation or warranty of any kind, express or implied,
statutory or otherwise, regarding the blockchain functionality nor for any breach of security in
the blockchain.
Technology
The relatively new and rapidly evolving technology underlying cryptocurrencies introduces
unique risks. For example, a unique private key is required to access, use or transfer a
cryptocurrency on a blockchain or distributed ledger. The loss, theft or destruction of a private
key may result in an irreversible loss of cryptocurrency associated with this private key. The
ability to participate in forks could also have implications for investors. For example, a market
participant holding a cryptocurrency position through a cryptocurrency exchange may be
adversely impacted if the exchange does not allow its customers to participate in a fork that
creates a new product.
The security of the EZCoin ecosystem, and associated core components, is a top priority for
EZCoin. Our Proof of Stake network is secured by the already proven EZC ecosystem
technology and provides valuable services for business or private use. Our mission is to become
a layer of trust for digital financial systems at internet scale, and the highest level of security is a
mandatory prerequisite.
The security researcher community regularly makes valuable contributions to the security of
organizations and the broader Internet, and EZCoin recognizes that fostering a close relationship
with the community will help improve the security of the EZCoin ecosystem. So, if you have
information about a vulnerability in the EZCoin ecosystem and associated components, we want
to hear from you.
Cybersecurity
The cybersecurity risks of cryptocurrencies and related “wallets” or spot exchanges include
hacking vulnerabilities and a risk that publicly distributed ledgers may not be immutable. A
cybersecurity event could result in a substantial, immediate and irreversible loss for market
participants that trade cryptocurrencies. Even a minor cybersecurity event in a cryptocurrency is
likely to result in downward price pressure on that product and potentially other
cryptocurrencies.
Access risks
There are a series of inherent risks with the use of the mobile and/or web-based trading
technology such as latency in the prices provided, and other issues that are a result of
connectivity (including, without limitation, the use of mobile networks). Prices displayed on the
Trading Platform are solely an indication of the executable rates and may not reflect the actual
executed or executable price of an order.
The Platform may utilize public communication network circuits for the transmission of
messages. EZCoin shall not be liable for any and all circumstances in which you experience a
delay in price quotation or an inability to trade caused by network transmission problems or
restrictions or any other problems outside our direct control, which include but are not limited to
the strength of the mobile signal, network latency, or any other issues that may arise between you
and any internet service provider, phone service provider or any other service provider. Please
note further that some of the features available on the Trading Platform may not be available on
any mobile application.
Future EZCoin applications may require Users to download and install updates to the application
or to their device’s operating system as such updates are made available. Failure to do so might
lead to certain parts of the Services (including trading functions) becoming inaccessible to
Members until such update has been successfully downloaded and installed. Performance issues
and security risks may arise if EZCoinmobile applications are used on devices with customized
or otherwise non-standard operating software or as a result of other software installed on such
devices.
Reporting a Security Issue
In case of any security issue is identified, you are required to send us an email to: info@myezcoin.com
What to include:
Well-written reports in English will have a higher chance of being accepted
Reports that include proof of concept code will be more likely to be accepted
Reports that include only crash dumps or another automated tool output will most likely not
be accepted
Reports that include products & services that are out of scope (see the Scope section below)
will not be considered
Include how you found the bug, the impact, and any potential remediation
Any plans for public disclosure
What you can expect from us:
A timely response to your email (within 2 business days).
An open dialog to discuss issues.
Credit after the vulnerability has been validated and fixed.
Coordinated Responsible Disclosure Policy
We ask security researchers to keep vulnerabilities and communications around vulnerability
submissions private and confidential until a patch is developed to protect the EZCoin Coin and
its users.
Please do:
Allow the EZCoin team a reasonable amount of time address security vulnerabilities
Avoid exploiting any vulnerabilities that you discover
Demonstrate good faith by not disrupting or degrading EZCoin services, products & data
EZCoin pledges not to initiate legal action against researchers as long as they adhere to this
policy.
Responsible Disclosure Process
- Once a security report is received, the EZCoin team verifies the issue and establishes the
potential threat - Patches to address the issues will be prepared and tested
- We update the Coin technology right away
Out of scope
- Scam & phishing attempts involving EZCoin services
- Lost or compromised secret phrases, keystore files or private keys
- Physical vulnerabilities
- Social Engineering attacks
- Functional, UI, and UX bugs such as spelling mistakes
- Descriptive error messages
- HTTP error codes/pages
Project risk
In many projects, the value and stability of the cryptocurrency largely depends on the skill and
diligence of the project team behind the cryptocurrency or the Coin Sale Agreements of any
kind. The project underlying an ICO might not be realized, which would ultimately make the
cryptocurrency worthless.
Contact Us
Get in touch with us at info@myezcoin.com Whether you want to submit an issue, a
recommendation or have security related topics to bring up, we’re happy to hear from you.
In order to protect the EZCoin ecosystem, we request that you not post or share any information
about a potential vulnerability in any public setting until we have researched, responded to, and
addressed the reported vulnerability and informed partners if needed.