Turinglabs.io as well as Turing Safe, a product of Turinglabs.io, is intended to be, and should be, used for informational purposes only. The operators of cryptocurrency token and initial coin offering (ICO) projects listed on Turinglabs.io pay a fee to be advised & audited, and Turinglabs.io, by advising as well as auditing them, does not intend to, and should not be assumed to, recommend or endorse any of them. Turinglabs.io neither provide nor endorse any investment, financial, or legal advice. This site cannot substitute for professional advice and independent factual verification.
No Responsibility for Listed Projects’ Warnings or Documentation.
The cryptocurrency token and ICO projects audited or advised by Turinglabs.io must provide their own warnings in relation to the risk of the offers that they are promoting. Their documentation may contain information on other cryptocurrency token and ICO projects that are not advised or audited by Turinglabs.io. Turinglabs.io is not responsible for the risk warnings or other documentation of the cryptocurrency token and ICO projects advised or audited by Turinglabs.io.
No Investment Advice or Brokering Services.
Turinglabs.io is neither an investment advisor (or investment broker) nor any endorsement agency. No content on the site including the Turing Safe seal is intended to, or should be assumed to, be a recommendation to enter into any securities transactions or investment, or an endorsement, recommendation, or rating of any project or investment. We do not provide personalized recommendations or opinions regarding whether a project or investment approach is suited to the financial or other goals or needs of a specific person, company, or other legal entity.
No Tax Advice or Legal Advice.
Turinglabs.io does not offer tax or other accounting services or legal advice. We are not accountants or lawyers. No content on the site is intended to, or should be assumed to, be legal or tax advice. We encourage you to, and recommend that you, consult with licensed accountants and lawyers for independent advice.
Neither Turinglabs.io nor any person or entity associated with it, including but not limited to its agents, servants, employees, insurers, attorneys, successors, and assigns, will be liable, whether in contract, tort (including negligence), or otherwise, for any damage, expense, or other loss you may suffer arising out of any use or reliance on all the Turinglabs.io’s content, products and services such as Turing Safe Seal.
By using Turinglabs.io as well as Turing Safe Seal, you are making the following warranties:
You warrant that (a) you have read Turinglabs.io’s Terms and Conditions, understand them, and unconditionally agree to be bound by them; (b) you have read Turinglabs.io’s disclaimer, understand it, and accept it; and (c) the warranties you make by using the site are truthful.
You warrant that you understand that since Turinglabs.io’s content and its security audit report (Turing Safe) is for informational purposes only, it is extremely important for you to do your own research and analysis, independently verify any information you find on Turinglabs.io upon which you wish to rely, consider your own personal circumstances and goals, and obtain independent financial advice from appropriate professionals before making any investment decision or taking any other action.
No Illegal Acts.
You warrant that you undertake to ensure, to the best of your knowledge and belief and after due diligence, that no money laundering or other unlawful act is committed in connection with the using of the Turinglabs.io, and that no proceeds of any money-laundering activities are used to invest in ICOs published on Turinglabs.io. You further warrant that you are and always will be compliant with all applicable anti-money-laundering regulations. In addition, you warrant that you will not, in connection with using Turinglabs.io, transfer anything of value, directly or indirectly, to any government official, employee of a government-controlled company, political party, or private (non-governmental) persons or entities working on behalf of any government in order to obtain any improper benefit or advantage. You further warrant that no money paid to you as compensation or otherwise has been or will be used to pay any bribe or kickback in violation of any applicable law.
Awareness of Risks.
You warrant that you understand that cryptocurrency token and initial coin offering (ICO) projects are inherently highly risky and extremely speculative. They are unregulated, in an early stage of development, with experimental software and business models, no governmental protection of your investment, dramatic price volatility, the strong potential for inadequate documentation, and a high risk of fraud.
You should only invest in cryptocurrency token or ICO projects if you have substantial technical knowledge and understand the specifics of the offering. Careful due diligence should be undertaken on the projects, network, tokens, and team behind any token sale or ICO. You must understand that your and others’ investments may not result in a usable or valuable token and you may lose the entire value of your investment.
You are encouraged to consider the advice of and warnings about the significant risks of this sector (including the risk
of loss of value and fraud) published by the following jurisdictions:
USA - https://www.sec.gov/oiea/investor-alerts-and-bulletins/ib_coinofferings
UK - https://www.fca.org.uk/news/statements/initial-coin-offerings
Europe - https://www.esma.europa.eu/press-news/esma-news/esma-highlights-ico-risks-investors-and-firms
For your information, Turinglabs.io offers the following list of risks of investments in cryptocurrency token or ICO projects. You warrant that you understand that Turinglabs.io does not guarantee that this list includes all possible risks.
Cryptocurrency tokens are created and distributed using distributed ledger or blockchain technology. This technology is highly experimental; therefore, participation in cryptocurrency token sales or ICOs is very risky. Issuers of tokens or virtual coins often use software, new technologies, and new ways of doing business that are in an early development stage and unproven.The software, technologies, and related businesses invested in by the entity issuing tokens could be unfit for their intended purpose and/or not work as effectively or as well as anticipated.
Many cryptocurrency token and ICO projects are based on the Bitcoin or Ethereum protocols. The project using them will be adversely affected by any malfunction, dysfunction, or abandonment of these protocols. Additionally, these protocols could be rendered less valuable or valueless by advances in cryptography or other technical advances, such as the development of quantum computing.
Cryptocurrency token and ICO projects use software and other technology that are likely to be in an early development stage and unproven, and there is normally no warranty that the process for receiving, use and ownership of tokens or virtual coins will be uninterrupted or error-free. Such software and other technology could contain weaknesses, vulnerabilities, or bugs that could cause serious problems, including but not limited to inability to use tokens or virtual coins and the partial or complete loss of tokens or virtual coins.
Blockchain mining attacks.
Any cryptocurrency token or ICO project using blockchain-based systems that depend upon independent miners may be subject to mining attacks, including but not limited to double-spend attacks, majority mining power attacks, “selfish-mining” attacks, and race condition attacks. Any successful attack presents serious risks to every aspect of the cryptocurrency token or ICO project.
The entity that issues a token or virtual coin may wish to store or convert cryptocurrency into one or more fiat and/or alternative cryptocurrencies. There could be serious problems making and managing such cryptocurrencies and funds, including difficulties related to the lack of ready convertibility between fiat currencies, cryptocurrencies, and tokens or to dealing with them via traditional market counterparties and intermediaries. If the value of cryptocurrencies fluctuates unfavorably during or after a token sale, the entity issuing the tokens may not be able to fund development or develop or maintain the technology platform allowing use of the tokens as it intended to do. In addition to the usual market forces, the risk of unfavorable fluctuation in the value of cryptocurrencies could be exacerbated by another DAO-like attack on the Ethereum network, by security incidents or market irregularities at one or more of the major cryptocurrency exchanges, or by currently unforeseeable events.
Loss of your credentials.
If you lose your crypto-wallet credentials or they are stolen, tokens or virtual coins you purchased will be permanently lost. A private key, or a combination of private keys, is necessary to control and dispose of Tokens stored in your wallet. Loss of the private key(s) associated with your wallet will result in loss of tokens. Any third party that acquires the ability to access your private key(s), including by acquiring login credentials of a hosted wallet service you use, may be able to steal your tokens. If your crypto-wallet malfunctions or fails for any reason, including your own failure to properly maintain or use it, may also result in your tokens being lost. Failure to correctly follow the procedures set out in any token sale documentation for buying and receiving tokens, including providing an incorrect wallet address or an address that is not ERC-20 compatible may result in token loss.
Cryptocurrencies and tokens are inherently subject to the risk of cybercrime, which is difficult to protect against. The software used in any aspect of a cryptocurrency token or ICO project could be hacked, which could result inability to use or outright loss of some or all cryptocurrency and token assets. Entities issuing tokens are unlikely to be required to insure their assets and may find it too difficult to do so given commercial conditions for such insurance.
Failure or Abandonment.
Any aspect of any cryptocurrency token or ICO project abandoned or required to be restructured, become or remain technologically or commercially unsuccessful, or be shut down for many reasons, including, but not limited to, lack of interest by the public; statutory, regulatory, or other legal changes; lack of funding; and lack of commercial success due to competing projects. There is no assurance that any tokens or virtual coins you acquire will have the value expected, or any value, at the time you wish to use them. You should understand and accept that the ownership and use of tokens or virtual coins is very risky such that they could be or become unusable or valueless with respect to the exchange of information, services, or value with other token or virtual coin owners, and they typically cannot be exchanged or redeemed to the entity that issued the tokens in return for fiat or alternative cryptocurrencies.
The sale or use of tokens or virtual coins could be prohibited under applicable securities law. It is possible that existing regulations could be applied, or new regulations could be enacted, affecting blockchain technology-based applications and sales of tokens or virtual coins such that any aspect of cryptocurrency token and ICO projects could be negatively affected, requiring its modification or discontinuance and potentially resulting in the loss of tokens or token value.
No statutory protection.
Tokens do not represent deposits and are not subject to any statutory insurance or guarantees. In the event of insolvency of an entity issuing tokens or any entity involved in a cryptocurrency token or ICO project, there will be no protection in place to allow recovery of losses.
All decisions involving products or services of an entity issuing tokens or related or associated party are typically made internally by the entity or related or associated party. Purchasers of tokens have no say in the governance of these companies. These decisions could adversely affect the platform on which your tokens are intended to be used and/or the utility of any tokens you own. Entities issuing tokens are subject to the normal legal, accounting, and tax standards, but they may be operated by persons with very limited business experience.
Lack of oversight.
Most token sales are not structured or intended as an offer of securities or a promotion, invitation, or solicitation for investment purposes. Token sales are not, therefore, subject to the offering requirements that apply to securities, including legal standards for prospectuses or other documentation. Investing in unregulated tokens does not involve independent review or oversight required by law for securities offerings, and the accounts of token offerors may not be subject to audit requirements.
No viable legal remedy.
In the event of a dispute between you and the entity issuing tokens or any related or associated entity about any aspect of a cryptocurrency token or ICO project, it may be prohibitively difficult or costly for you to assert your legal rights. Even if you do bring a claim, prevailing on your claim may be difficult or impossible because of the difficulty of distinguishing between legally binding and enforceable contractual representations, warranties and terms and mere projections about the expected future of tokens that do not constitute legally binding promises and representations. Your ability to prevail on any such claim will be extremely difficult because of the presence in the terms and conditions applicable to token sales of numerous warnings about the many risks involved in purchasing or using tokens or virtual coins.
Because cryptocurrency token or ICO projects are largely unregulated forms of crowdfunding, there is a risk that dishonest people will use them as get-rich-quick schemes and not even attempt to deliver on the promises and representations made at the time of sale of the tokens. You should assess the quality and credibility of the whole team involved in a cryptocurrency token or ICO project, including professional advisors, because the risk of fraud is significant in this young untested sector.
*Kindly note that by making use of the TuringLabs platform, you agree to our Disclaimer & TOU and are aware of the fact that the platform neither gives investment advice nor any endorsement. It is prudent to do your own research.