Wayex Global Risk Disclosure Statement

Market & Crypto Volatility Risk

The value of cryptocurrencies and stablecoins may experience rapid, unpredictable changes across short periods. Your crypto holdings may increase or decrease significantly based on market movements. You should never invest more than you can afford to lose, especially when holding emerging tokens with limited liquidity or market depth.

Regulatory & Jurisdictional Risk

Global jurisdictions differ widely in crypto regulation. New laws, enforcement, or compliance requirements may emerge with little prior notice. Panama-based licensing does not guarantee access or legality in other regions. Services may be changed, restricted, or withdrawn if your location becomes disallowed.

Technical & Smart Contract Risk

Infrastructure such as blockchain protocols, smart contracts, or custodial systems may contain bugs or vulnerabilities. Risks include incorrect execution, blockchain forks, compromised hot or multisignature cold wallets, mispriced automated swaps, or irreversible loss. As observed in other global programs, on-chain bridging or cross-chain swaps can introduce operational risk, e.g. failed bridging, delayed settlement, and smart contract exploits.

Counterparty & Custodial Risk

Wayex partners with third-party custodians, card processors, and banking networks for fiat conversion, Visa issuance, and card settlement. If a custodian or processor faces insolvency, operational failures, or breach, your funds or access could be impaired. Similar to other platforms' reliance on Sutton Bank as a card issuer, Wayex may partner with Panamanian or international financial entities; these arrangements may change.

Card-Based Spending & Pre-Authorisation Risk

Card transactions may involve pre-authorisations, reserving funds in your wallet before final settlement. Pre-authorised amounts may exceed the final transaction value and may remain pending (held) for several days, especially in hospitality or rental merchant categories. Discrepancies between pre-authorised and final settlement amounts are at your risk — Wayex is not responsible for holds that exceed actual spend.

No Financial, Legal, or Tax Advice

Wayex provides a platform and execution service only; we are not financial planners, legal, or tax professionals. You are fully responsible for your decisions, including portfolio allocations, timing, and regulatory or tax reporting in your jurisdiction.

Rewards & Incentives Limitations

Program features such as cashback or Point-based systems are subject to specific terms. Reward programs may include expiration dates, minimum staking, or platform-specific conditions; failure to comply may result in forfeiture or clawback. Wayex reserves the right to modify, suspend or terminate incentive schemes, including staking, yield products, or affiliate-based bonuses.

Access & Security Risk

Loss of credentials, mobile devices, or access to your app could lead to permanent loss of access to funds. Always enable multi-factor authentication (MFA) and use strong passwords.

Operational Service Interruptions

System outages, scheduled maintenance, or network disruptions may temporarily prevent access to funds, card functionality, or onboarding. Wayex may suspend card issuance or transactions during critical updates, compliance screenings, or suspected fraud investigations.

Cross-Border & FX Risk

Spending cryptocurrencies abroad involves conversion to local fiat currency. FX rates at the point of sale may include spread and network fees. Some ATM networks may apply additional fees beyond Wayex's control. Users travelling across multiple countries should review the local acceptance of Visa and mobile wallets (Apple Pay, Google Pay).

Dispute Handling & Chargebacks

Transactions may be disputed for merchant errors or fraud; however, crypto-to-fiat card transactions are typically irreversible once authorised and settled. Visa chargeback rights may apply, but resolution timelines depend on international processing, card networks, and merchant responsiveness. Wayex acts as facilitator, not guarantor, of dispute outcomes.

Tax & Reporting Risks

By law, you may be required to report income or capital gains resulting from trading, spending, or selling crypto assets. Wayex may provide transaction summaries on request, but does not guarantee tax compliance or accurate cost-basis tracking. Failure to report correctly in your country could result in fines or penalties.

Third-Party & Ecosystem Risk

Integration with third-party services e.g. liquidity providers, custodian wallets, staking validators, or affiliate platforms, exposes you to their operational integrity. If a third party ceases operations, Wayex may not be able to guarantee continuity of service.

Continuous Changes to Token Universe

Supported cryptocurrencies may change. Tokens can be delisted, or token standards may evolve. Supported blockchain networks may encounter upgrades or forks that impact platform access or recoverability.

Stablecoin-Specific Risk (De-peg & Issuer Controls)

Stablecoins can lose their peg due to market stress, reserve shortfalls, or issuer actions. Certain issuers can freeze/blacklist addresses or decline redemption; freezes may prevent spending or redemption.

Liquidity, Slippage & Execution Risk

Indicative quotes may differ from final execution due to price movement, spreads, or venue liquidity. Large or thinly traded orders can incur slippage or partial fills; conversions may route through multiple venues.

Network Fees, Congestion & Reorgs

Gas/fees can spike unexpectedly; low fees may cause stuck or dropped transactions. Chain reorganisations or mempool replacement can alter perceived confirmations; timing is not guaranteed.

Unsupported Network / Addressing Risk

Depositing to an unsupported chain, the wrong address format, or omitting a required tag/memo (e.g., XRP/MEMO) can lead to irrecoverable loss. Smart-contract addresses may not accept deposits; always follow in-app network prompts.

Custody Segregation & Insolvency Treatment

While Wayex uses custodians, the treatment of customer assets in insolvency depends on applicable law and custodial contracts. Omnibus wallets and operational movements may occur; timing of withdrawals can be affected during stress events.

Compliance Screening, Investigations & Holds

Sanctions/AML/PEP screening may trigger false positives, requiring additional verification. Transaction holds or withdrawal reviews can occur; access may be delayed or limited until reviews are complete.

Privacy & Travel Rule Data Sharing

For qualifying transfers, Wayex may share originator/beneficiary data with VASPs/financial institutions. Cross-border transfers can entail different privacy regimes and retention periods than your home country.

Geo-location, IP & Access Controls

Wayex may geo-restrict access based on IP, GPS, or document verification. Travel, VPNs, or IP anomalies can trigger temporary blocks or step-up authentication (e.g., 3-D Secure challenges).

Device, Credential & Social Engineering Risk

SIM-swap, phishing, malware, or fake apps can compromise accounts even with MFA. Users must maintain device hygiene (OS updates, biometrics, hardware security keys where available). If unauthorised activity occurs, notify Wayex immediately.

Card Acceptance, MCC Restrictions & Offline Processing

Certain MCCs may be blocked. Offline transactions may post later and exceed available balances, causing negative balances.

Refunds, Reversals & Negative Balance Risk

Merchant refunds can be delayed and posted at different FX rates; you may realise gains/losses. Chargebacks/adjustments can create negative balances; Wayex may set off against other funds.

Limits & Caps

Daily/monthly limits apply to loads, conversions, ATM withdrawals, and spending. Limits can change due to risk or compliance events.

Staking/Yield & Incentive Program Risk

If offered, staking or yield features involve smart contracts, slashing, validators, and liquidity risks. Rewards may be variable, delayed, modified, clawed back, or discontinued per program terms.

Cross-Border Spending, DCC & ATM Fees

Merchants/ATMs may apply Dynamic Currency Conversion (DCC) with unfavourable rates. Foreign, network, and local ATM fees may apply in addition to Wayex fees.

Banking & Payment Rail Dependencies

Fiat rails (ACH/SEPA/SWIFT/local schemes) can introduce cut-offs, holds, and recall windows; settlement may be delayed. Partner or cloud outages can disrupt access, card issuance, or notifications.

Legal Classification & Tax Treatment Changes

Tokens or features may become subject to new classifications (securities/derivatives/e-money), affecting availability. In some jurisdictions (including Australia), spending crypto can be a taxable disposal; guidance may change with little notice. Seek independent tax advice.

Airdrops, Forks & Unsupported Events

Wayex may choose not to support certain forks/airdrops; attempting to interact externally can result in loss of access or unintended consequences.

Mobile Wallet Tokenisation (Apple Pay/Google Pay)

Device tokens may remain active until removed; lost/stolen devices require immediate de-tokenisation. Biometric/PIN failures or device policy changes can block payments.

API & Integration Risk (Where Enabled)

If you use API keys or third-party integrations, key leakage or mis-scoped permissions can lead to unauthorised actions.

Unclaimed Property, Dormancy & Account Closure

Extended inactivity may trigger dormancy, fees (if disclosed), or handling under unclaimed property rules; access may require extra verification.

Force Majeure

Extraordinary events (natural disasters, war, sanctions changes, widespread internet outages) may prevent or delay service delivery.

Definitions

• User: Any natural or legal entity that registers for and uses Wayex's Services.
• Services: Custodial wallet services, crypto-to-fiat exchange, both physical & virtual Visa cards, API access, and account management tools.
• Crypto: Any digital asset, token, or stablecoin (examples: BTC, ETH, USDC, etc.) supported by Wayex.
• Pre-Authorisation: Funds are temporarily held pending final merchant settlement at the card transaction point.
• FATF: Financial Action Task Force — global standard for AML/CFT regimes.
• Panama Data Law: Law 81, governing personal data protection in the Republic of Panama.
• Stablecoin De-peg: A sustained deviation of a stablecoin's market price from its target peg (e.g., 1 AUD/USD).
• Blacklist/Freeze: Issuer or protocol-level restriction preventing movement of specific addresses or tokens.
• Slippage: The difference between the expected and executed price caused by market movement/liquidity.
• Dynamic Currency Conversion (DCC): A merchant/ATM service that converts the transaction to your home currency at the point of sale—often at unfavourable rates.
• 3-D Secure (3DS): A Card network authentication step that can be required for certain e-commerce transactions.
• Travel Rule Data: Originator/beneficiary identity information exchanged between VASPs/financial institutions for qualifying transfers.