Assets Recovery Agreement

(The Exchange and you shall collectively refer to as the “Parties”, and singularly as a “Party”.) 

WHEREAS: 

1. （A）The Exchange, together with its affiliated entities, operates a cryptocurrency exchange platform (the "Platform").  

2. （B）Due to evolving regulatory requirements in the United States, the Exchange must discontinue services and close all accounts for U.S. users effective January 22, 2025, at 21:00 (UTC-5) (“Closing Date”). Users identified as U.S. users (each a “Departing User”, collectively, “Departing Users”) that hold all their cryptocurrency, digital assets, or fiat currency (collectively, "Assets") in their respective KuCoin accounts and must withdraw all Assets prior to the Closing Date. 

3. （C）You are one of the Departing Users who are subject to the aforesaid service discontinuation and account closure and have not yet withdrawn your Assets held in your account on the Platform. 

4. （D）You now wish to recover your Assets held in your account on the Platform, in accordance with the terms and conditions herein.

5. （E）Upon completion of the Assets recovery process, the Parties wish to mutually release each other from any further obligations or liabilities. 

NOW, THEREFORE, in consideration of the mutual covenants and agreements contained herein, the parties agree as follows: 

1. 1. RECOVERY TERMS 

1. 1.1 You acknowledge that (i) you must withdraw all Assets from your account before the Closing Date and (ii) any Assets remaining in your account after the Closing Date shall be subject to a one-time fee of 30 USDT (or its equivalent in other currencies). 

2. 1.2 The Exchange reserves the right, at its sole discretion, to: (a) conduct verification procedures prior to processing any recovery request; (b) request additional security verifications, as necessary, to ensure the integrity and security of transactions; (c) delay or reject recovery requests that fail to meet security, compliance or operational requirements; and (d) modify verification and recovery/withdrawal requirements with prior notice to the Departing Users. 

3. 1.3 The Exchange offers the following recovery methods: 

1. （a）Option A: Direct Token Retrieval – Receive your cryptocurrency or digital assets through your selected network(s)to your designated wallet(s) or address(es). 

2. （b）Option B: USDT Conversion and Retrieval – Conversion of your existing Assets into USDT prior to recovery. 

4. 1.4 You must select one (1) recovery option, which becomes irrevocable upon submission. However, for the time being, only Option A is available. Option B will be made available upon further notice. You assume full responsibility for understanding and accepting the risks associated with your chosen recovery method.

5. 1.5 Fee and Requirements Applicable tofor Assets Recovery Requests.

1. （a）A one-time non-refundable fee of 30 USDT (or equivalent) shall apply to any Assets remaining in your account after the Closing Date, subject to change with notice.  

2. （b）Option A: Direct Token Retrieval 

• Standard withdrawal fees apply per cryptocurrency or digital asset. 

• Withdrawals must meet the Exchange’s specified minimum withdrawal thresholds.  

• You shall be responsible for reviewing and confirming current fees and thresholds on the Exchange’s official website.  

• The Exchange reserves the right to reject withdrawal requests below the minimum threshold. 

3. （c）Option B: USDT Conversion and Retrieval 

• Conversion rates shall be based on a 7-day average price against USDT. 

• A 10% conversion fee applies to the total asset value. 

• The final withdrawal USDT amount is subject to market fluctuations and volatility. 

• Minimum withdrawal limits and applicable fees shall apply. 

• The Exchange reserves the right to adjust conversion rates and fees in response to market conditions. 

6. 1.6 Fiat Currency Recovery [WHERE APPLICABLE] 

1. （a）The Exchange encourages you to opt for the USDT conversion option for your fiat currency assets, considering the high fees and extended processing times associated with fiat currency recovery or transfers.  

2. （b）Fiat recovery shall be processed based on the exchange rates provided by the Exchange from time to time. Once such exchange rate and conversion options are confirmed by you, all fiat currencies held in your account will be converted into USDT for recovery. 

7. 1.7 In the event your account does not have sufficient USDT to cover applicable fees and expenses, the Exchange reserves the right, at its sole discretion, to deduct the equivalent value from other Assets in your account. The conversion rate for such deductions will be determined by the Exchange. 

2. 2.RECOVERY EXECUTION  

1. 2.1 You acknowledge and confirm that you will review and verify (or have reviewed and verified) the type and amount of your remaining Assets (after deducting any applicable fees and expenses) available for recovery (“Remaining Assets”). 

2. 2.2 For Option B, you further confirm that all your Remaining Assets shall, where applicable, be converted to USDT at the prevailing rate, subject to applicable fees and market conditions.  

3. 2.3 For both options, the Remaining Assets will be processed and recovered/withdrawn according to your selected network(s), and transferred to the recovery/withdrawal address(es) or wallet(s) you have designated, subject to the Exchange’s operational policies and procedures. 

4. 2.4 By selecting a recovery option and submitting recovey/withdrawal information, you agree and acknowledge that you have: 

1. （a）verified and confirmed ownership of the destination wallet or account designated for the recovery/withdrawal;  

2. （b）reviewed and verified the balance of your Remaining Assets;  

3. （c） understood and accepted all applicable fees and expenses associated with the recovery/withdrawal;  

4. （d） made an informed and voluntary decision regarding your chosen recovery method; 

5. （e）accepted all risks associated with the chosen recovery method; and  

6. （f）released and discharged the Exchange from any and all liabilities associated with the recovery process and your selected recovery option.  

For completeness and avoidance of doubt, the Exchange shall bear no liability for the above. 

3. 3.REPRESENTATIONS AND WARRANTIES 

You represent and warrant that: 

1. （a）you have the full legal capacity and authority to execute this Agreement and perform the obligations outlined herein;  

2. （b）your designated recovery/withdrawal address(es) and/or wallet(s) are accurate, valid, and under your sole control; 

3. （c）you fully understand the risks associated with cryptocurrency transactions, including potential delays, market fluctuations, and security vulnerabilities; and 

4. （d）you shall comply with all applicable laws and regulations at all times. 

4. 4.LIMITATION OF LIABILITY 

1. 4.1You agree and acknowledge that the Exchange shall not, in any event be liable for any (i) losses or damages incurred due to incorrect recovery information provided by you, (ii) delays or failures caused by blockchain network congestion, failures, or maintenance, (iii) regulatory changes or government actions affecting cryptocurrency transaction, (iv) FM Event (as defined below) or (v) indirect, consequential, incidental, or punitive damages. 

2. 4.2The Exchange’s maximum liability in connection with any recovery process shall not exceed the value of your Remaining Assets at the time of recovery. 

5. 5.INDEMNIFICATION 

You agree to indemnify and hold the Exchange and its affiliates, officers, directors, employees, and agents from and against any claims, liabilities, damages, losses, or expenses (including reasonable legal fees) arising from: (i) your breach of the Exchange’s Terms of Use or this Agreement, (ii) your Assets recovery decisions, actions, or failure to provide accurate recovery information, (iii) unauthorized access to your account on the Platform, wallet or recovery/withdrawal address, (iv) network failures, technical malfunctions, or blockchain-related disruptions beyond the Exchange’s control, or (v) your violation of any applicable laws, regulations, or third-party rights. 

6. 6.RELEASE OF CLAIMS 

Upon initiating an Assets recovery process, you irrevocably release, discharge, and hold harmless the Exchange and its affiliated entities from all claims, demands, liabilities, and damages arising from or related to (i) your account closure and Assets recovery process, (ii) the selected recovery method and any associated fees and expenses, (iii) asset conversion rates, fiat currency exchange rate, network fees, and potential delays, (iv) market fluctuations and price volatility, (v) technical, operational, or security issues beyond the Exchange’s reasonable control; and (vi) the discontinuation or modification of any Assets recovery services. 

7. 7.FORCE MAJEURE  

1. 7.1 Notwithstanding any other provision contained in this Agreement, the Exchange shall not be liable for any action taken, delay or any failure to take any action required to be taken hereunder or otherwise to fulfil its obligations hereunder in the event and to the extent that the taking of such action, delay or such failure out of or is caused by or directly or indirectly due to war, act of terrorism, insurrection, riot, labour disputes, civil commotion, act of God, accident, fire, water damage, loss of power, explosion, the occurrence of an epidemic, pandemic or other outbreak of serious contagious disease, any law, decree, regulation or order of any government or governmental body (including any court or tribunal), or any other cause (whether similar or dissimilar to any of the foregoing) (each an “FM Event”) whatsoever beyond the reasonable control of the Exchange or any of its affiliates and delegates.  

2. 7.2 Upon the occurrence of the FM Event, the Exchange shall notify you in writing as soon as possible after the occurrence of the FM Event. In any such event, the Exchange shall be excused from any further performance and observance of the obligations so affected only for so long as such circumstances prevail and the Exchange continues to use commercially reasonable efforts to recommence performance or observance as soon as practicable.  

8. 8.GOVERNING LAW AND DISPUTE RESOLUTION 

This Agreement shall be governed by and construed in accordance with the laws of Singapore. Any dispute arising out of or in connection with this Agreement, including any question regarding its existence, validity or termination, shall be referred to and finally resolved by arbitration administered by the Singapore International Arbitration Centre (“SIAC”) in accordance with the Arbitration Rules of the Singapore International Arbitration Centre (“SIAC Rules”) for the time being in force, which rules are deemed to be incorporated by reference in this clause. 

9. 9.MISCELLANEOUS  

1. 9.1 Entire Agreement: This Agreement constitutes the complete understanding of the Parties and supersedes any and all other contracts, representations, and arrangements, whether oral or in writing, heretofore made by the Parties with reference to the subject matter hereof.  

2. 9.2 Severance: If any provision of this Agreement is determined to be illegal, invalid or unenforceable, it shall be deemed amended to conform to applicable laws or if it cannot be amended, it shall be stricken from this Agreement, and the remainder of this Agreement will nevertheless be deemed valid and binding.  

3. 9.3 Amendment: No modification or amendment to this Agreement, nor any waiver or any rights under this Agreement, will be effective unless in writing signed by Parties.   

4. 9.4 No Waiver: The failure of either Party to exercise, or any delay in exercising, any power or right under this Agreement shall not be construed as a waiver of such power or right, unless explicitly stated in writing by the waiving Party. Furthermore, the exercise of any single or partial right or power shall not preclude the further exercise of any other rights or powers contained herein.   

5. 9.5 Third Party's Rights: Unless otherwise expressly provided in this Agreement, a person or an entity who is not a party to this Agreement cannot enforce or enjoy the benefit of any term of this Agreement.  

6. 9.6 Costs: Each Party shall bear its own costs and expenses in relation to the negotiation and execution of this Agreement. 

7. 9.7 Assignment: You shall not assign any of your rights or delegate any of your obligations hereunder without prior written consent of the Exchange. The Exchange may at its sole and absolute discretion, assign any of its rights hereunder to its affiliates.