IAP · WikiBit Protection Service Terms

Effective Date: June 30, 2026 Version: V1.0

Article 1 General Provisions

1.1 These Terms are formulated by the WikiBit platform (hereinafter referred to as the “Platform”) and apply throughout the entire process of users applying for and using the “IAP · WikiBit Protection” service (hereinafter referred to as the “Service”).

1.2 The purpose of this Service is to provide eligible users with compensation for certain financial losses within specified limits.

1.3 Before applying for this Service, users must carefully read and agree to all contents of these Terms. Submission of an application shall be deemed as the user having fully understood and accepted these Terms.

Article 2 Types of Protection Services

The Platform provides the following two types of protection services:

2.1 IAP · WikiBit Regulatory Protection

Established and funded by WikiBit officially, with a total protection fund of 1,000,000 USDT. If a user suffers financial losses due to incorrect regulatory information entered by WikiBit and the exchange subsequently absconds or ceases operations, the user may apply for compensation. The maximum compensation amount shall be 30% of the loss amount, with a maximum compensation of 2,000 USD per claim.

2.2 IAP · Exchange Protection

Established jointly by WikiBit and cooperating exchanges. The exchange must deposit a security fund into the official WikiBit wallet address. Insured users who suffer losses due to an exchange absconding or ceasing operations may apply for compensation. The maximum compensation amount shall be 30% of the loss amount and shall not exceed 10% of the remaining balance of the current protection fund pool.

Article 3 Eligibility Requirements

Users must satisfy all of the following conditions simultaneously in order to apply for this Service:

3.1 The user has completed WikiBit platform real-name verification (KYC);

3.2 The user holds a valid and authentic exchange account;

3.3 The user has linked a valid cryptocurrency wallet address on the Platform;

3.4 The user has never successfully received any protection compensation through this Platform previously (users who have already received compensation shall permanently lose eligibility);

3.5 A maximum of three exchanges may be covered under protection at the same time.

Article 4 Protection Validity Period and Renewal

4.1 Each approved protection application shall remain valid for 90 days from the date of approval.

4.2 Users may apply for renewal within 10 days prior to the expiration date. Renewal applications must include screenshots of trading records from the most recent 30 days as supporting materials.

4.3 Users shall not be eligible for renewal under any of the following circumstances:

• The user has successfully received compensation from any exchange;
• The number of exchanges currently under protection has already reached the maximum limit of three.

Article 5 Waiting Period

Following approval of a protection application, the first 10 days shall constitute a waiting period during which compensation claims may not be submitted.

Article 6 Compensation Claims

6.1 Eligibility for Claims

Users may submit a compensation claim only if the exchange absconds or ceases operations during the protection validity period and outside the waiting period.

6.2 Required Application Materials

Users must submit the following materials:

• Event type (initially only “Exchange Exit Scam” is supported);
• Event description (minimum 50 characters);
• Loss amount (in USD);
• USDT receiving wallet address;
• Valid contact information (mobile phone number and email address);
• Screenshots of account assets (maximum 9 images);
• Screenshots of chat records with the exchange customer service (maximum 9 images).

6.3 Review Process

After submission, the Platform shall process the application according to the following procedure:

1. Confirmation of supporting document submission;
2. Platform review and investigation;
3. Notification of review results (approved/rejected).

6.4 Compensation Payment

Upon approval, the Platform shall transfer the compensation amount to the user’s designated wallet address within 10 business days.

6.5 Claim Submission Limits

• Compensation may only be successfully claimed once per exchange;
• A maximum of three rejected claims may be submitted per exchange. After three rejections, the user shall permanently lose the right to submit compensation claims for that exchange;
• Users may only submit a compensation claim for one exchange at a time.

Article 7 Restrictions After Compensation

7.1 Once a user successfully receives compensation from any exchange, the user shall permanently lose eligibility to apply for new protection services or renew existing protection services.

7.2 After successful compensation, renewal of protection for other exchanges currently under protection shall be prohibited.

Article 8 Platform Rights and Disclaimer

8.1 The Platform reserves the right to verify the authenticity of all application materials. If a user is found to have submitted false materials, the Platform shall have the right to reject the application and revoke the user’s protection eligibility. In serious cases, the Platform reserves the right to pursue legal liability in accordance with applicable laws.

8.2 This Service constitutes a limited free compensation service and does not constitute an insurance contract. Compensation amounts shall be subject to the limits specified in these Terms, and the Platform shall bear no liability for any amount exceeding such limits.

8.3 The following circumstances are excluded from the scope of compensation under this Service:

• Losses caused by user operational errors;
• Losses caused by market fluctuations, hacking of users’ personal accounts, or other causes unrelated to exchange absconding or closure;
• Losses occurring during the waiting period;
• Applications submitted by users who do not meet the eligibility requirements.

8.4 The Platform reserves the right to revise these Terms based on business development needs. Revised Terms shall take effect upon announcement on the Platform. Continued use of the Service by users shall constitute acceptance of the revised Terms.

Article 9 Dispute Resolution

9.1 The interpretation, validity, and dispute resolution of these Terms shall be governed by the laws of the People’s Republic of China (Hong Kong users shall be governed by the laws of Hong Kong).

9.2 Any dispute arising from this Service shall first be resolved through friendly negotiation between the parties. If negotiation fails, either party may file a lawsuit with the competent People’s Court located in the jurisdiction where the Platform is registered.

Article 10 Contact Information

If you have any questions regarding these Terms, please contact us through the official customer service channels of the WikiBit Platform.

The final right of interpretation of these Terms shall belong to the WikiBit Platform.