I. Privacy Policy
Our Privacy Policy explains:
I.1. Introduction
This Privacy Policy describes how Athena, Athena Labs, Artemis Ltd ("Athena") and our affiliates, collect, use, disclose, transfer, store, retain, or otherwise process your information when you (“you,” “your”)—whether as a User, Merchant, Developer, or Enterprise tier—interact with our Services. This Privacy Policy applies to your use of our Services and covers only information collected in connection with your access to and use of our Services. Please read this Privacy Policy carefully. By continuing to interact with our Services, you consent to the practices described herein.
I.2. Our Primary Privacy Stance
- We do not collect data to show you any ads.
- We do not sell user data.
- We believe in privacy as a fundamental human right.
- We only store the data that Athena needs to function as a secure and feature-rich digital asset marketplace platform.
I.3. Information We Collect About You
The information we collect depends on the service used or the User tier. Merchant, Developer and Enterprise tiers require us to collect more information.
- Identification Information: Such as name, date of birth, sex, residential or office address, and zip code.
- Contact Information: Such as phone number, email address, social media handle, and website.
- Financial Information: Such as bank account numbers, crypto wallets, and trade records.
- KYC Information: Such as video selfie, utility bill, bank account statements, and Corporate Affairs Commission (CAC) certificate.
I.4. How We Use Your Information
We use your information to:
- Ensure the proper functioning of the services you are using.
- Help personalize your trading experience.
- Verify your identity.
- Secure your data.
- Prevent and combat fraud.
- Comply with legal obligations.
- Enforce our agreements.
- Develop new products and services.
- Market and tailor our products to your preferences.
I.5. Security Measures for Storing Your Information
We take reasonable measures, including administrative, technical, and physical safeguards, to protect your information from loss, theft, misuse, and unauthorized access, disclosure, alteration, and destruction. These measures include:
- Utilizing highly trusted third-party services to add an extra layer of protection for user data.
- Encrypting sensitive user data while using our services.
- Implementing end-to-end encryption for communications.
- Storing user data across isolated data centers.
I.6. How Long We Keep Your Information
We retain your information for as long as necessary to fulfill the purposes outlined in this Privacy Policy, including providing our Services, complying with legal obligations, and protecting our legal rights, property, and users. Even after you stop using our services, we may retain copies of your information and any records of transactions or Services you participated in, for a period determined by various criteria such as applicable laws, statutes of limitations, or as deemed reasonably necessary. This retention may be for the purposes of complying with legal requirements, detecting or preventing fraud, collecting fees, resolving disputes, addressing issues with our Services, enforcing our Terms of Service or other agreements, or for any other purposes consistent with applicable law.
I.7. Legal Grounds for Sharing Your Information
We may share your information based on the following legal grounds:
- Consent: When you have provided your explicit consent for us to share your information with specific trades.
- Legal Obligations: To comply with applicable laws, regulations and legal processes.
I.8. Changes to This Privacy Policy
We reserve the right to modify this Privacy Policy at any time. Any changes will be effective immediately upon posting of the revised Privacy Policy. We will notify you of any material changes to this Privacy Policy by posting a notice on our website or by other appropriate means. Your continued use of our Services following the posting of changes constitutes your acceptance of such changes. We encourage you to review this Privacy Policy periodically to stay informed about how we are protecting your information.
II. Terms of Service
These Terms constitute a legally binding agreement between you (“you” or “your”) and Athena includung affliates within the Athena Ecosystem (“Athena”, “we”, “our” or “us”). The Terms govern your use of the Athena Services made available to you on or through the Platform or otherwise. Athena Services may be provided by Athena or, if specified in these Terms, any Product Terms or any additional terms, by any Athena Affiliate.
By using our services the Platform, you agree that you have read, understood and accepted these Terms, together with any additional documents or terms referred to in these Terms. You acknowledge and agree that you will be bound by and will comply with these Terms, as updated and amended from time to time.
If you do not understand and accept these Terms in their entirety, you should not use Athena's services or the Platform which includes but to limited to OTC Desk, Marketplace.
II.1. Eligibility
To use Athena's Services, you must meet the following criteria:
- You must be an individual, corporation, legal person, entity, or other organization with the full power, authority, and capacity to use Athena's Services and to enter into and comply with your obligations under these Terms.
- If you are an individual, you must be at least 18 years old.
- If you act as an employee or agent of a legal entity and enter into these Terms on their behalf, you must be duly authorized to act on behalf of and bind such legal entity for the purposes of entering into these Terms.
- You have not been previously suspended or restricted from using Athena's services.
- You have not been convicted of a financial crime, acts considered as terrorism, or are under investigation by the SEC, FCID, EFCC, DSS, NDLEA, or any Nigerian Government Agencies and Regulators.
- You are not a sanctioned individual or represent an entity on the NIGSAC sanctioned list.
II.2. Prohibited Use
The following activities are strictly prohibited:
- Abuse of Service: Includes excessive use, spamming, account hijacking, service disruption, automation abuse, data scraping, and misuse of support services.
- Financial Misconduct: Engaging in fraudulent activities, money laundering, or any form of financial deception.
- False Representation: Providing false information, impersonating others, or misrepresenting your affiliation with any entity.
- Human Rights Violations: Participating in activities that promote or enable human trafficking, child exploitation, or any other form of human rights abuse.
- Hate Speech, Threats, and Violence: Using the services to promote hate speech, incite violence, or threaten individuals or groups.
Examples of Abuse of Service include but are not limited to:
- Malicious Excessive Use: Using Athena's services in a manner that excessively burdens or interferes with the normal operation of our systems or networks.
- Spamming: Sending unsolicited or unauthorized advertisements, promotional materials, or other forms of solicitation of services or products without any affiliation and outside the Athena Ecosystem.
- Account Hijacking: Unauthorized access to or use of another user's account.
- Service Disruption: Deliberately causing disruptions or malfunctions to Athena’s services or infrastructure.
- Automation Abuse: Using bots or automated systems to interact with our services in a manner that violates our usage policies.
- Data Scraping: Extracting or collecting data from our services through automated means without authorization.
- Misuse of Support Services: Submitting frivolous or false support requests, or otherwise misusing our support channels.
Examples of Financial Misconduct include but are not limited to:
- Fraudulent Activities: Engaging in schemes or practices intended to defraud Athena, its users, or any other party through Athena services.
- Money Laundering: Using Athena's services to engage in the concealment of the origins of illegally obtained money.
- Financial Deception: Providing false or misleading information regarding financial status, transactions, or activities.
Examples of False Representation include but are not limited to:
- Providing False Information: Submitting inaccurate, misleading, or fraudulent information during the registration or verification process.
- Impersonation: Pretending to be another person or entity to deceive Athena, its users, or any other party.
- Misrepresenting Affiliation: Falsely claiming association with any individual, group, or organization.
Examples of Human Rights Violations include but are not limited to:
- Human Trafficking: Using Athena's services to facilitate or engage in the illegal trade of human beings for exploitation.
- Child Exploitation: Engaging in or supporting activities that exploit children, including child labor and sexual exploitation.
- Any Form of Human Rights Abuse: Participating in activities that violate the fundamental rights and freedoms of individuals.
Examples of Hate Speech, Threats, and Violence include but are not limited to:
- Hate Speech: Using Athena's services to promote, encourage, or incite hatred against individuals or groups on the platform.
- Inciting Violence: Encouraging or inciting others to engage in violence against Athena personnel and other Athena users.
- Threatening Behavior: Using Athena's services to threaten harm or violence against Athena personnel and other Athena users or Athena property and reputation.
II.3. Refusal of Service
Athena reserves the right to refuse service to any individual or entity at our sole discretion. This includes, but is not limited to, cases where:
- You do not meet the eligibility criteria outlined in Section II.1.
- You engage in any prohibited use as outlined in Section II.2.
- Your actions or behavior compromise the security, integrity, or functionality of Athena's Services.
- You violate any of the terms and conditions outlined in this document or any applicable laws or regulations.
- We determine that providing services to you poses a risk to our business operations, reputation, or the safety of our users.
We may exercise this right without prior notice and will not be liable for any consequences resulting from the refusal of service.
III. Anti-Money Laundering (AML) Policy
This Anti-Money Laundering ("AML") Policy outlines the principles and procedures adopted by Athena, Athena Labs, Artemis Technologies (“Athena,” “we,” “our,” or “us”) and its affiliates within the Athena Ecosystem to detect, prevent, and report money laundering, terrorist financing, and other illegal activities in compliance with Nigerian laws and regulations. This policy is designed to comply with applicable Nigerian AML laws, including the Money Laundering (Prohibition) Act, 2011 (as amended), the Terrorism (Prevention) Act, 2011 (as amended), and guidelines issued by the Nigerian Financial Intelligence Unit (NFIU).
III.1. Purpose
The purpose of this AML Policy is to:
- Establish and maintain a framework that ensures compliance with relevant Nigerian AML laws and regulations.
- Implement procedures to detect and report suspicious activities.
- Prevent Athena's services from being used for money laundering or terrorist financing activities.
- Safeguard Athena’s reputation and integrity.
III.2. Scope
This policy applies to all employees, officers, directors, contractors, consultants, and third-party service providers of Athena, as well as all users of Athena’s services.
III.3. Customer Due Diligence (CDD)
Athena implements comprehensive Customer Due Diligence measures, which include:
1. Customer Identification and Verification:
- Collecting and verifying identification information from all customers, including name, date of birth, residential or office address, and zip code.
- Verifying contact information such as phone number, email address, social media handle, and website.
2. Enhanced Due Diligence (EDD):
- Implementing additional verification measures for higher-risk customers, including those in the Merchant and Enterprise tiers.
- Collecting and verifying financial information such as bank account numbers and crypto wallets.
- Obtaining Know Your Customer (KYC) information such as video selfies, utility bills, bank account statements, and Corporate Affairs Commission (CAC) certificates.
3. Ongoing Monitoring:
- Continuously monitoring customer transactions to detect and report suspicious activities.
- Updating customer information and conducting regular reviews to ensure accuracy and compliance.
III.4. Reporting Suspicious Activities
Athena has established procedures for identifying and reporting suspicious activities in compliance with Nigerian law, which include:
- Training employees to recognize indicators of suspicious activities.
- Implementing internal reporting mechanisms for employees to report suspicious activities to the designated AML compliance officer.
- Submitting Suspicious Transaction Reports (STRs) to the Nigerian Financial Intelligence Unit (NFIU) as required by law upon request by Nigerian Government.
III.5. Record Keeping
Athena maintains comprehensive records of:
- Customer identification and verification documents.
- Transaction records, including details of transactions conducted through Athena’s services.
- Records of suspicious activity reports and communications with regulatory authorities.
All records are retained for a minimum period of five years or as required by Nigerian laws and regulations.
III.6. Training and Awareness
Athena provides ongoing AML training and awareness programs for all employees, which include:
- Educating employees on Nigerian AML laws, regulations, and internal policies.
- Training employees to recognize and report suspicious activities.
- Regularly updating training materials to reflect changes in laws, regulations, and best practices.
III.7. Risk Assessment
Athena conducts regular risk assessments to:
- Identify and assess the money laundering and terrorist financing risks associated with its services.
- Implement appropriate risk mitigation measures based on the results of the risk assessments.
- Continuously update risk assessments to address emerging risks and changes in the business environment.
III.8. Amendments
Athena reserves the right to amend this AML Policy at any time to reflect changes in Nigerian laws, regulations, or business practices. Any amendments will be communicated to all relevant parties and will take effect immediately upon publication. By using Athena's services, you acknowledge and agree to comply with this AML Policy.
IV. Risk Advisory
By using Athena's services, you acknowledge that you understand the risks outlined in this Risk Advisory below and agree to assume these risks. Athena is not liable for any losses that may occur as a result of these risks. It is your responsibility to ensure that you are fully informed and understand the potential risks before engaging in any transactions on our platform.
IV.1. Market Risk
Market risk refers to the potential for financial loss due to changes in the value of assets traded on the platform. This includes but is not limited to:
- Price Volatility: The prices of digital assets can be highly volatile, and sudden changes can result in significant financial loss.
- Liquidity Risk: The market for certain digital assets may lack sufficient liquidity, making it difficult to buy or sell these assets without significantly affecting their price.
IV.2. Operational Risk
Operational risk pertains to the potential for loss due to failures in internal processes, systems, or external events. This includes:
- System Failures: Technical issues, such as hardware or software failures, may disrupt services and prevent transactions from being processed.
- Security Breaches: Despite implementing robust security measures, there is always a risk of unauthorized access, data breaches, or cyberattacks that could compromise user data and assets.
IV.3. Counterparty Risk
Counterparty risk is the potential for loss due to the failure of a counterparty to meet its obligations. This includes:
- Default Risk: Counterparties in transactions may default on their obligations, leading to financial loss.
- Fraud Risk: Counterparties may engage in fraudulent activities, resulting in financial loss or legal repercussions.
IV.4. Risks Related to Digital Assets
Given the nature of Digital Assets and their underlying technologies, there are a number of intrinsic risks, including but not limited to:
1. Technological Risks:
- Faults and Defects: Faults, defects, hacks, exploits, errors, protocol failures, or unforeseen circumstances can occur in respect of a Digital Asset or the technologies or economic systems on which the Digital Asset relies.
- Obsolescence: Technological developments may render certain Digital Assets obsolete.
2. Irreversibility:
- Transaction Finality: Transactions in Digital Assets are irreversible. Consequently, losses due to fraudulent or accidental transactions may not be recoverable.
3. Network Issues:
- Delays: Network delays may cause transactions to not be settled on the scheduled delivery date.
- Protocol Attacks: Digital Assets may be subject to attacks on the protocol or technologies on which they depend.
4. Forks:
- Hard Forks: A hard fork may occur if developers suggest changes to a Digital Asset software and the updated software is not compatible with the original software. This can result in two versions of the Digital Asset network running in parallel, potentially impacting the demand and price of the Digital Asset.
5. Concentration Risk:
- Significant Holders: Certain addresses on blockchain networks hold a significant amount of the currently outstanding asset. If these addresses were to exit their positions, it could result in volatility affecting the asset’s price.
6. Majority Control Attacks:
- 51% Attacks: If anyone gains control of over 51% of the computing power (hash rate) of a blockchain network, they could double spend their Digital Assets. While the risk is remote for widely adopted networks, a successful attack would significantly erode trust and decrease the value of Digital Assets.
7. Fraud and Cyber Attacks:
- Risk of Fraud: Digital Assets are subject to the risk of fraud or cyber attacks.
8. Emerging Risks:
- New Asset Risks: New risks may arise from investing in new types of Digital Assets or market participants’ engagement in complex transaction strategies. The Digital Asset market is subject to speculative interest, rapid price swings, and uncertainty.
IV.5. Risk Mitigation Measures
Athena takes the following measures to mitigate these risks:
- Robust Security Protocols: Implementing advanced security measures to protect user data and assets.
- Regulatory Compliance: Ensuring compliance with all applicable laws and regulations, including AML and KYC requirements.
- Ongoing Monitoring: Continuously monitoring transactions and activities to detect and prevent suspicious activities.
- Risk Assessment: Conducting regular risk assessments to identify and address potential vulnerabilities.
- User Education: Providing users with information and resources to understand and manage the risks associated with digital asset transactions.
V. Chargeback Policy
This Chargeback Policy outlines the terms and conditions under which Athena ("Athena," "we," "our," or "us") handles chargebacks for transactions conducted on our platform. By using our services, you agree to the terms of this policy.
V.1. Introduction
A chargeback is a reversal of a transaction initiated by the issuing bank or cardholder. Chargebacks can occur for various reasons, including disputes over unauthorized transactions, non-delivery of goods or services, or other issues. This policy sets forth the process for managing chargebacks and the responsibilities of both Athena and its users.
V.2. User Responsibilities
Users of Athena's services are expected to:
- Provide Accurate Information: Ensure that all transaction information, including payment details, is accurate and up-to-date.
- Review Transactions: Regularly review transaction history to promptly identify any unauthorized or disputed transactions.
- Contact Athena: In the event of a dispute, contact Athena's customer support before initiating a chargeback to attempt to resolve the issue directly.
V.3. Chargeback Process
- Initiation: Chargebacks are typically initiated by the cardholder through their issuing bank. The issuing bank then notifies Athena of the chargeback request.
- Investigation: Upon receiving a chargeback notification, Athena will investigate the transaction to determine its validity. This investigation may include reviewing transaction records, user communications, and other relevant information.
- Response: Athena will respond to the chargeback request by providing the issuing bank with relevant evidence and documentation supporting the validity of the transaction.
- Resolution: The issuing bank will review the evidence provided by Athena and make a determination regarding the chargeback. This decision is typically final and may result in the reversal of the transaction.
V.4. Fees and Penalties
- Chargeback Fees: Users may be responsible for any fees associated with chargebacks, including administrative fees charged by the issuing bank or payment processor.
- Account Suspension: Repeated or fraudulent chargeback requests may result in the suspension or termination of the user’s account with Athena.
- Recovery of Funds: In the event of a chargeback, Athena reserves the right to recover the amount of the chargeback from the user’s account, including any associated fees and costs.
V.5. Fraudulent Chargebacks
Fraudulent chargebacks, including those initiated under false pretenses, are taken seriously by Athena. Users found to be engaging in fraudulent chargeback activities may face:
- Account Termination: Immediate termination of their Athena account.
- Legal Action: Legal action to recover the funds and associated costs, including but not limited to legal fees and damages.
V.6. Dispute Resolution
Athena encourages users to resolve disputes directly with our customer support team before initiating a chargeback. Our goal is to address and resolve issues promptly and fairly. Users can contact Athena’s customer support team via email or through the support portal on our website.
V.7. Amendments
Athena reserves the right to amend this Chargeback Policy at any time. Users will be notified of any significant changes to the policy, and the updated policy will be effective immediately upon publication on our platform.
By using Athena's services, you acknowledge that you understand and agree to comply with this Chargeback Policy. It is your responsibility to regularly review this policy and stay informed of any updates.