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Terms and Conditions

Effective Date: November 19, 2025

Welcome to KrabX Crypto Trading (“KrabX,” “we,” “us,” or “our”). These Terms and Conditions (“Terms”) govern your access to and use of our website krabx.com (the “Site”) and our peer-to-peer cryptocurrency trading services (the “Services”). By accessing or using the Site or Services, or by trading with us via LocalCoinSwap.com or BitValve.com, you agree to be bound by these Terms. If you do not agree, do not use our Site or Services.

1. Definitions

  • “User,” “you,” or “your” means any individual or entity accessing or using the Site or Services.

  • “Cryptocurrency” means digital assets such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Monero (XMR).

  • “Escrow Partner” refers to third-party platforms (e.g. LocalCoinSwap, Bitvalve) that hold and release funds and crypto to facilitate trades.

  • “KYC” means “Know Your Customer,” the identity-verification and anti-money-laundering process described in Section 4.

  • “MSB” means Money Services Business, as registered with FinCEN under the Bank Secrecy Act.

2. Eligibility

  • You must be at least 18 years old (or the age of majority in your jurisdiction) and capable of entering into legally binding contracts.

  • You may not use our Services if you are prohibited by applicable law from buying, selling, or owning Cryptocurrency or Precious Metals.

  • You may not use the Site or Services if you have been previously suspended or removed by KrabX.

3. Description of Services

KrabX operates as a non-custodial, over-the-counter trading service. We do not offer ongoing hosted wallets or long-term storage of customer funds. Fiat funds and Cryptocurrency are received and controlled only as necessary to settle specific trades, either directly by KrabX or via trusted Escrow Partners, and are then promptly remitted to the customer. Current supported payment methods include:

  • Zelle

  • Cash by Mail

  • Wire Transfers (USD)

4. KYC/AML Compliance

  1. Identity Verification: You must complete our KYC process before initiating any trades above our new-customer thresholds. KYC requires:

    • Government-issued photo ID (passport, driver’s license, or state ID)

    • Selfie with ID

    • Proof of address (utility bill, bank statement)

    • Source-of-funds attestation

  2. Legal Compliance: As a FinCEN-registered MSB, we file Currency Transaction Reports (CTRs) for transactions exceeding $10,000 and Suspicious Activity Reports (SARs) when required. We reserve the right to refuse or suspend trades that raise AML/CTF concerns.

5. Transaction Procedures

  1. Create Trade: Select “Buy” or “Sell,” choose Cryptocurrency and payment method, enter the amount.

  2. Receive Quote: You’ll receive an instant, time-limited quote showing the rate and total cost, including our spread.

  3. Fund Payment / Deposit Crypto:

    • Buyers: Send fiat via your selected payment rail (Zelle, Wire, or ship Cash by Mail) to the designated account or address.

    • Sellers: Deposit Cryptocurrency to the Escrow Partner’s wallet or a designated KrabX settlement wallet, as instructed.

  4. Escrow Confirmation: The Escrow Partner confirms receipt of funds or Crypto.

  5. Release Assets: Upon confirmation, the counter-asset (Crypto or fiat) is released from escrow to you.

6. Fees & Pricing

  • Wire Fees: Any bank-imposed wire fees are your responsibility.

  • All fees are disclosed upfront in your quote.

7. No Chargebacks & Finality of Sale

  • All trades are final and non-refundable once escrow releases the assets.

  • You agree not to initiate any reversals, recalls, chargebacks, or disputes of payments made to KrabX.

  • In the event of an unauthorized reversal, you will indemnify KrabX for all losses, fees, and legal costs incurred (see Section 9).

8. Indemnification

You agree to defend, indemnify, and hold harmless KrabX, its officers, directors, employees, agents, and partners from any claims, losses, damages, liabilities, and expenses (including reasonable attorneys’ fees) arising out of or related to:

  1. Your breach of these Terms;

  2. Your use of the Site or Services;

  3. Any unauthorized or fraudulent activity on your account;

  4. Any disputes between you and other Users or third parties.

9. Limitation of Liability

To the fullest extent permitted by law, KrabX and its affiliates shall not be liable for:

  • Any indirect, incidental, special, consequential, or punitive damages;

  • Loss of profits, revenue, data, or goodwill;

  • Any errors or delays in cryptocurrency prices or execution of trades;

  • Any loss due to frozen or recalled funds from banks.

KrabX’s total liability arising out of or related to these Terms or your use of the Services shall not exceed the total fees you paid to KrabX in the 3 months preceding the claim.

10. Intellectual Property

All content on the Site, including text, graphics, logos, images, and software, is the property of KrabX or its licensors and is protected by copyright, trademark, and other intellectual-property laws. You may not reproduce, distribute, or create derivative works without our express written permission.

11. Privacy

Your use of our Site and Services is subject to our Privacy Policy, which explains how we collect, use, and share your personal information.

12. Governing Law and Jurisdiction

These Terms and any dispute arising out of or relating to them shall be governed by the laws of the State of Michigan, without regard to its conflict-of-law principles. You agree that the state and federal courts located in the State of Michigan shall have exclusive jurisdiction over any dispute arising out of or relating to these Terms or your use of the Services, and you consent to personal jurisdiction and venue in those courts.

13. Prohibited Uses & Geographic Limits

We currently only offer Services to individuals and entities located in the United States and may decline or terminate access for users in other jurisdictions.
You may not use the Site or Services:

  • To engage in any illegal activity, including but not limited to money laundering, terrorist financing, sanctions evasion, fraud, scams, or the sale of illegal goods or services.
  • In connection with mixing, tumbling, or obfuscation services intended to hide the source of funds

We may refuse, suspend, or terminate access to the Services at any time based on our risk and compliance assessments. We do not trade with citizens of New York State.

14. Amendments

We may revise these Terms from time to time. If we make material changes, we’ll post the updated Terms on the Site and update the “Effective Date” above. Your continued use of the Services after the updated Terms take effect constitutes acceptance