Release date: 30.05.2025
Last update: 30.05.2025
Skailenga UAB is a Crypto-Asset Service Provider registered
in the Republic of Lithuania and complies with relevant
regulatory frameworks, including the Markets in
Crypto-Assets Regulation (MiCA) and the Digital Operational
Resilience Act (DORA).
Skailenga UAB provides to the Users the possibility to use the
Services described in the Terms of Skailenga. This Risk disclaimer
provides the User with information about the risks associated
with using the Services provided by Skailenga through the Website.
In accordance with Regulation (EU) 2023/1114 (MiCA), Skailenga
assumes responsibility for the accurate execution of orders and
the safekeeping of client assets as required by law. This disclaimer
does not exclude any liability that cannot be lawfully limited
under applicable regulation.
The User uses the Website and the Services at their own risk.
The User must carefully consider whether the risks set out in
this disclaimer, as well as all other applicable risks, are acceptable
to the User prior to using the Website or the Services. Skailenga
encourages the User to seek professional advice (legal, taxation,
financial, technical or otherwise) regarding the User’s particular
situation before using the Services. If any of the risks are
unacceptable to the User, the User should not use the Services.
General risks
Skailenga UAB takes reasonable measures in accordance with
applicable EU regulations (incl. DORA) to ensure operational
resilience, including ICT risk management, incident
response, and data integrity measures.
At the date, the Website has specific functionality and utility.
However, the Website may undergo significant changes over time.
Various features of the Website and/or the Services, including
its terms and conditions, fees, structure, purpose, algorithm,
source codes, infrastructure design and other technical specifications
and parameters, may be updated and changed frequently without
notice. Skailenga may encounter difficulties during development,
including financial, resourcing and technical difficulties. Particular
features of the Services may never be realised.
Further, while using the Website and/or Services, system errors
may occur. Cryptocurrencies, the Website and the Services rely
heavily on the internet. However, the public nature of the internet
means that either parts of the internet, or the entire internet,
may be unreliable or unavailable at any given time. Further,
interruption, delay, corruption or loss of data, or the loss
of confidentiality in the transmission of data, may occur when
transmitting data via the internet.
The User acknowledges that there are risks associated with utilizing
a trading system over the internet including, but not limited
to, the failure of hardware, software, and internet connections,
the risk of malicious software introduction, the risk of third
parties may obtaining unauthorized access to information and/or
assets (including the User’s Cryptocurrencies) stored on the
User’s behalf, cyber-attack, the Cryptocurrency network failure
(such as blockchain), computer viruses, communication failures,
disruptions, errors, distortions or delays the User may experience
when using the Services, howsoever caused, spyware, scareware,
Trojan horses, worms or other malware that may affect the User’s
computer or other equipment, or any phishing, spoofing or other
attack.
Cryptocurrencies risks
Crypto-assets offered by Skailenga do not qualify as
financial instruments and are therefore not covered under
MiFID II protections. Instead, they are subject to the
provisions of Regulation (EU) 2023/1114 (MiCA). This also
means that there is no central bank that can take corrective
measure to protect the value of Cryptocurrencies in a crisis
or issue more Cryptocurrencies.
Cryptocurrency market is determined only by supply and demand
and is often highly unpredictable and volatile. The price of
Cryptocurrencies is usually not transparent and highly speculative
and susceptible to market manipulation. In the worst-case scenario,
the product could be rendered worthless. Past performance is
not an indication of future performance. The value of investments
of the Users in Cryptocurrencies can go down as well as up. Changes
in foreign exchange rates can also cause a decrease or increase
in the value of the investments of the User in Cryptocurrencies.
Other risk factors affecting the value of an investment or return
on investment include, but are not limited to, political, economic,
credit and market risks.
Cryptocurrencies are prone to being misused for illegal activities
due to the pseudonymity or even anonymity of transactions and
investors would be adversely affected if law enforcement agencies
investigate any alleged illicit activities (incl. money laundering
and terrorist financing). Therefore, Cryptocurrencies should
be seen as an asset class subject to extremely high risks and
the User should never invest money that the User cannot afford
to lose. The User should be satisfied that the Services are suitable
for the User in the light of the User’s circumstances and financial
position. The User should not invest in Cryptocurrencies and/or
use the Services unless the User has the necessary knowledge
and expertise, understands its characteristics and exposure to
risk. In addition, use of the Services can never be considered
a safe investment rather only an investment with a high risk
of loss inherently associated with it. The risk of loss in trading
Cryptocurrencies can be substantial. The User should be aware
that the User may sustain a total loss of the deposited funds.
Blockchain risks
While Skailenga does not control blockchain protocols, it
applies due diligence and technical controls to reduce
exposure to protocol-level failures as required under MiCA.
Blockchain is an independent public or private peer-to-peer
network and is not controlled in any way or manner by
Skailenga. Skailenga does not own or control the underlying
software protocols which govern the operation of
Cryptocurrencies available for trading on the Website. In
general, the underlying protocols are open source, and
anyone can use, copy, modify, and distribute them.
The User will be bound and subject to any changes and/or amendments
in the blockchain system and subject to any applicable law which
may apply to the blockchain. Skailenga shall not be responsible
for any failure and/or mistake and/or error and/or breach which
shall occur in blockchain or in any other networks in which the
Cryptocurrencies are being issued and/or traded. Skailenga is
not responsible for operation of the underlying protocols and
makes no guarantee of their functionality, security, or availability.
Skailenga conducts due diligence and risk assessment on crypto-assets
made available on the platform, including technical, legal, and
cybersecurity criteria in line with MiCA requirements.
No Offer, Recommendation or Solicitation
None of the information contained on the Website constitutes a recommendation, solicitation or offer by Skailenga to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. The information and materials on this Website is provided for information purposes only. Certain information contained herein (including financial information) has been obtained from published and unpublished sources. Such information has not been independently verified by Skailenga, and Skailenga does not assume responsibility for the accuracy of such information. The Website is not intended to provide investment advice to nor carry on any other investment services and activities (as defined in the European Union’s Markets in Financial Instruments Directive 2004/39/EC (“MiFID”)).
Forward-looking statements
All statements contained in this Website, any statements
made in press releases or other publicly available venue and
oral statements that may be made by Skailenga or its
representatives (as the case may be) that are not statements
of historical facts constitute "forward looking statements."
All statements regarding Skailenga’s financial position,
business strategies, plans and prospects (incl. revenue and
profitability) and the prospects of the industry which
Skailenga is in, constitute as forward-looking statements.
Some of these statements may be identified by
forward-looking terminology such as "aim," "target,"
"anticipate," "believe," "may," "estimate," "expect," "if,"
"intend," "may," "plan," "possible," "likely," "project,"
"should," "would," "will," or similar or synonymous terms.
These forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the actual future
results, performance or achievements of Skailenga to be materially
different from any future results, performance or achievements
expected, expressed or implied by such forward-looking statements.
Nothing contained the Website is or may be relied upon as a promise,
representation or undertaking as to this the future performance
or policies of Skailenga. Skailenga disclaims any responsibility
to update any of those forward-looking statements, even if new
information becomes available or other events occur in the future.
Consumer Protection Notice
Crypto-assets and related services offered by Skailenga are
not subject to investor protection under the EU Investor
Compensation Scheme or Deposit Guarantee Scheme.
You may lose all of your investment. Skailenga maintains a complaints
handling procedure in line with MiCA. Users may file complaints
via [email] and may escalate to the supervisory authority, the
Bank of Lithuania, if not satisfied with the response.
IT Risk and Operational Resilience
Skailenga UAB maintains internal governance and control arrangements, ICT risk management frameworks, and incident response mechanisms in line with Regulation (EU) 2022/2554 (DORA). In the event of a major ICT-related incident, Users will be notified without undue delay. While Skailenga implements strong security measures, Users acknowledge that residual risks related to cyber incidents, service disruption, or data breach cannot be entirely eliminated.