Legal

Terms of Use ​

Last updated on May 6, 2024

ATTENTION: PLEASE READ THESE TERMS CAREFULLY BEFORE USING THE WEBSITE. BY ACCESSING, BROWSING, OR REGISTERING TO USE OUR WEBSITE YOU AGREE TO BE BOUND BY THESE TERMS. IF YOU DO NOT AGREE TO BE BOUND BY THESE TERMS, PLEASE DO NOT ACCESS OR USE THE WEBSITE OR ANY RELATED SERVICES.

• These Terms of Use and any conditions expressly incorporated herein (“Terms”) apply to any access to or use of, any services made available by Alfacash UAB, a company duly registered in Lithuania with company number 306095517, using the website Sheepy.com (“Website”, “Sheepy”). This Agreement provides a general description of the Services that Sheepy may provide to you, including those that allow your business to accept payments for goods or services in virtual currencies. We provide you with a more detailed description of the Services through API documentation that may be used to access the Services and additional resources we make available on our Website. By accessing the Website, opening an account on the Website, or ticking “I Agree” button or checkbox, you agree to be bound by these Terms and confirm that you have read, understood, and accepted all the provisions of these Terms, as well as provisions of our Privacy Policy, AML Policy, and other legally binding documents publicly available on the Website.
  
  

1. Eligibility ​

• Our Services are intended solely for business clients who are residing or incorporated in countries and territories that we support and can enter into a legally binding contract and use the Website, and are not prohibited to do so and use the Services by the applicable law or any other laws that may apply. You are not allowed to use the Services if your business is located in any state, country, territory, or other jurisdiction where your use of the Services would be illegal or otherwise violate any applicable laws. You also may not use the Services if your business is located in any state, country, territory, or other jurisdiction where Sheepy has determined to prohibit the use of the Services. The availability of certain locations may change from time to time and without notice due to regulatory requirements, conditions in the jurisdiction, or circumstances otherwise beyond our control. We are not responsible for any losses or damages that may arise directly or indirectly from bans or restrictions imposed on virtual currencies by your local government. You agree that in the course of using our Services and/or interactions with Sheepy, you will not violate any law, infringe any copyright or patent of any kind, act in a defamatory or threatening manner, and/or attempt to take any action that may harm our interests directly or indirectly through abuse of our Services or the Website. If you or your business do not meet these eligibility requirements, do not use our Services.
  
  

2. Description of Services ​

• Our Services consist of providing you the possibility to accept payments for goods or services in virtual currencies, exchange virtual currencies against fiat currencies, exchange fiat currencies against virtual currencies, exchange virtual currencies against other virtual currencies, make payouts in virtual currencies, and withdraw fiat balances to a bank account. In offering a service for the exchange of one virtual currency for another virtual currency or fiat money, the Company relies on the prevailing spot market exchange rate for the specific trading pair (e.g., BTC/EUR). You acknowledge and agree that while the prices displayed on our Website may incorporate data from diverse sources, they are not sourced directly from any single provider. Therefore, these prices may not correspond to those found elsewhere (including prices quoted on other exchanges, conversion services, and market data providers). We exclusively provide services related to virtual currencies supported on the Website. Please ensure to regularly check the Website to stay informed about the virtual currencies supported. It is advised not to attempt to make transactions with virtual currencies that are not supported on the Website. We reserve the right to restrict or terminate the provision of Services at any time without any prior warning or to impose special conditions for the use of the services if you are engaged in prohibited activities. The specific types of prohibited activities are defined by Sheepy but are not exhaustive. We always reserve the right to monitor, review, retain, and/or disclose any information as necessary to satisfy any applicable law, regulation, sanctions programs, legal process, or governmental request. We reserve the right to cancel and/or suspend the provision of Services and/or block transactions or freeze funds immediately and without notice, if we determine, in our sole discretion, that your business is associated with a prohibited activity. Other restrictions on the provision of Services may be additionally specified on the Website. We retain the right to redirect you to a platform or website maintained by a third party outside of the Website. Although we enforce strict price accuracy policies for all fiat onramps and providers and do our best to ensure that the information displayed on or via our Website is up-to-date and accurate, we cannot guarantee the reliability or accuracy of third-party Services. If you encounter any problems with any third-party Services available via Sheepy, you acknowledge that you should resolve that issue with the relevant third party or fiat provider and that your sole remedy in such circumstances lies within the relevant third party and not within Sheepy. Sheepy and you are independent contractors and nothing in these Terms shall make us joint venturers, partners, employees, agents, or other representatives of the other party. All information provided through the Website and our services is provided on an “as is” and “as available” basis. We do not guarantee that the Website will meet your goals and requirements. We take reasonable care in providing the Website, but we can’t guarantee that any information on the Website regarding any Services is accurate. To the extent permitted by law, we shall not be held liable for any errors or interruptions; however, we will do everything in our power to correct such omissions as soon as possible under the particular circumstances. A cross-chain transaction involves transferring tokens from one blockchain to another (e.g., Ethereum to a Bitcoin address), and the recovery of such tokens is complex and not always feasible, with varying levels of difficulty, time, and security risks. A fee will apply to any successful recovery, with no guaranteed timeframe for completion. Transactions with unsupported tokens, including those sent to incorrect blockchains, are irrecoverable.
  
  

3. Use of the Account ​

• To use selected Services, you must register and create an account (“Account”). To create your Account, you will be required to provide us with certain personal information, including, as applicable, the information and documentation associated with identity verification and other mandatory procedures as described in these Terms of Use and Privacy Policy. At a later stage, we may request additional information about you or your business, e.g., business or trade name, physical address, email, phone number, business identification number, URL, the nature of business activities, and certain other information that we require. Until you go through a formal Account verification procedure, and we have reviewed and approved, all required information, your Account will be available to you on a preliminary basis only, and we may terminate it at any time and for any reason. You can only have one Account on the Website. You represent and warrant that all information provided to us under these Terms is true, accurate, and not misleading in any respect. If any such information changes, you must update such information as soon as possible. You acknowledge that to conduct the above-mentioned verification procedures, we may perform inquiries, directly or indirectly through third-party service providers to prevent misidentification, fraud, suspicious activity, money laundering, or any other forbidden activity. You hereby authorize us, or a third-party service provider, to take any measures that we consider necessary to verify and authenticate your identity, confirm the information you submit about your bank (or other financial institution) account, and take any action we deem necessary based on the results. The provision of Services might be delayed due to circumstances including but not limited to reasonable doubts about the nature or source of funds, carrying out checks as outlined in the AML/KYC policies, etc. You shall not use your Account for illegal purposes and activities, which may include but are not limited to money laundering, terrorism financing, human, drug, weapon, sex trafficking, trading fake, counterfeit, perishable, dangerous goods, or conducting financial or investment fraud. You are solely responsible for keeping, protecting, and safeguarding your password and username (login) provided to you or generated in connection with your use of the Services. If you lose your password and username (login), you may not be able to access your account. You agree to notify us immediately of any unauthorized use of your Account. We will not be responsible for any liabilities, losses, or damages arising out of the unauthorized use of your Account. You and your business representatives affirm to Sheepy that your representatives are authorized to provide sensitive information on your behalf and bind you to these Terms. We may require you or your representatives to provide additional information or documentation demonstrating your representative’s authority. Without the express written consent of Sheepy, neither you nor your representative may register or attempt to register for an Account on behalf of a user we previously terminated from use of the Services. Sheepy reserves the right to suspend your Account if we reasonably believe your credentials have been compromised, reasonably believe your Account is being used by a person with no right and/or authorization to do so, or we reasonably suspect you of fraud that constitutes a violation of these Terms and/or applicable laws.
  
  

4. Anti-money laundering requirements ​

• We take all appropriate measures and implement the best standards to comply with all applicable laws and regulations regarding Anti-Money Laundering (“AML”). We will make reasonable efforts to detect and prevent people engaged in any criminal activity in any jurisdiction from using our Services. We are further required to obtain and record information and documentation that helps confirm your identity and business activities or provides additional information regarding your use of the Services. If we cannot confirm this information, we may require additional documents to verify the business details, corporate structure, and identity of UBOs. We may ask for this information at any time before, during, or after your use of the Services. We also may request information from you as a result of our name screening processes, for investigative purposes related to you or another user, or as a randomly sampled test of the accuracy of our processes. In the latter case, we may require documentation from you at no fault, and ask you to furnish it with or without a reason provided. While we may delegate day-to-day operational duties to the third-party service provider (i.e., for effective risk management in selected jurisdictions), the responsibilities for maintaining effective oversight and governance of outsourcing arrangements, managing outsourcing risks, and implementing an adequate outsourcing risk management framework, continue to rest with the Company and its senior management.
  
  

5. Risk disclosure ​

• We warn you about the risks of digital assets trading. By using the services of Sheepy, you acknowledge and accept any risks associated with the transactions, agree to be bound by the Terms, and acknowledge and accept the following and any other risks. Exchange rates have exhibited strong volatility, and extreme swings in price may occur at any time, resulting in a potential loss of purchasing power. Digital assets trading may not be suitable for all investors. If you have any concerns, please obtain advice from a qualified financial advisor. Any data, prices, news, opinions, research, analysis, and/or any other information contained on the Website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. The content on the Website is subject to change at any time without notice and is provided for the sole purpose of assisting you to make independent decisions. We do not guarantee the accuracy or timeliness of the information on the Website and will not accept liability for any loss or damage which may arise directly or indirectly from the content or your inability to access the Website, for any delay in or failure of the transmission or receipt of any instruction or notifications sent through the Website. We inform you that past performance does not guarantee future success, so you need to consider a number of factors to build up a strong investment strategy. Before starting to use our Services, please consider your financial position. Please be rational and do not invest money you cannot afford to lose. You should be aware that no refund or reimbursement is possible, and no private or public insurance company will indemnify you for losses. Cryptocurrency transactions are irreversible. If you send cryptocurrency to a third party, you cannot reverse it or stop payment. When you send cryptocurrency to a blockchain address, you confirm ownership of this address and hold us harmless from any claims and actions. Please note that only owning a private key can prove your ownership of a Bitcoin address, but at the same time, you cannot give away your private key since anybody with access to it can spend your funds. Please be careful of any kind of (1) technical support or impersonation scams (e.g. never give out your 2FA, never give support staff (or anyone else for that matter) remote access to your devices, etc. (2) giveaway scams (any giveaways that we offer will direct you to our official websites) (3) investment scams (send cryptocurrency to trusted third parties only and be sceptical of websites or services promising unrealistic investment opportunities) (4) extortion scams (run a precautionary malware scan on your computer using a reputable tool) (5) loader scams (do not cooperate with fraudsters who use stolen credit cards on compromised accounts to perpetuate payment frauds) (6) Telegram scams (7) phishing scams (always make sure that our official website domain name is written correctly). Please report any of the aforementioned fraudulent practices to [email protected] or contact local enforcement authorities.
  
  

6. Security ​

• We believe that it is our goal to secure information relating to your use of our Website and Personal account. As a result, we make reasonable efforts to maintain an information security management system; to control its information with strong controls; to continuously offer training to our personnel on information security; to prevent unauthorized access, leakage, modification, theft/loss, denial of service attacks, or any other security threat; to identify and limit the incidence of information security breaches; to proactively address laws and regulations in each jurisdiction in which we operate relating to information security standards and requirements.
  
  

7. Liability ​

• We reserve the right to close your Account, access the Website, or access the Services for any reason and at any time, returning to you any funds clearly and unambiguously owed to the most recent contact information you have provided. You shall indemnify Sheepy and our agents (if any), employees, officers, directors, affiliates, subsidiaries, and successors, and hold them harmless from and against all third-party claims, except those resulting solely from our breach of the Terms. We shall not be liable for any delay or failure in the performance or the delivery or shipment of virtual currencies, or any damages suffered by you because of such delay or failures, directly or indirectly caused by or in any manner arising from or connected with acts of God, acts of public enemies, riots, strikes, acts of governmental agencies, failure of power supply, telecommunications or other suppliers, delays in securing or shortages of raw materials, breakdown or destruction of any system or equipment or any other cause or causes beyond our control of any kind. Sheepy takes all possible measures to integrate and exchange those virtual currencies that cannot be classified as “security” by competent national authorities. We follow the best practices to decide whether virtual currencies are secure or not. However, for the avoidance of any doubt, the provisions of this clause shall not constitute or be deemed to be construed to constitute any warranty and/or investment, financial, legal, or any other professional advice.
  
  

8. Personal data ​

• Please refer to our Privacy Policy for information about how we collect, use, and share your personal and business information.
  
  

9. Intellectual property ​

• We grant you a limited, nonexclusive, non-transferable license, subject to these Terms, to access and use the Website and Services, solely for approved purposes as permitted by Sheepy. You agree you will not copy, transmit, distribute, sell, license, modify, publish, or participate in the transfer or sale of; create derivative works from, or in any other way exploit any of our materials. Access to the Website is provided on an “as is” and “as available” basis, with no further promises made by us regarding the availability of the Services. Specifically, we do not give any implied warranties of title, merchantability, and/or non-infringement. We do not make any promises that access to the Website, any of the Services, or any of the materials contained therein will be continuous, uninterrupted, timely, or error-free. The Company may produce and display content on the Website, which includes but is not limited to information, texts, images, video, and audio files. The content does not constitute any form of investment advice, financial advice, trading advice, or any other sort of advice unless specifically mentioned otherwise and should not be construed as such. The Company shall not hold liability for any actions that arise from its content. The license will terminate automatically if we suspend or terminate your access to the Account or Services. In case you upload or share any feedback, suggestion, idea, or other information or material with us, you automatically grant us a worldwide license to use your content. It becomes part of the public domain as long as it remains on our Website and Services. It can be used for marketing or any other purpose at our sole discretion.
  
  

10. Governing law and dispute resolution ​

• You agree that Lithuanian laws, excluding conflict of laws provisions, will govern these Terms and all matters arising out of this document. The parties expressly agree to the venue in courts located in Lithuania and waive any objection based on personal jurisdiction.
  
  

11. Sanctions ​

• You guarantee that you and your business are not subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury (“OFAC”); no action, suit, or proceeding by or before any court or governmental agency, authority, or body or any arbitrator involving you with respect to U.S. sanctions administered by OFAC is pending or, to your knowledge, threatened; and you have not directly or indirectly lent, contributed or otherwise made available funds to any party, joint venture partner or other person or entity, to finance the activities of any person that would, if undertaken by a U.S. person as defined in the U.S. sanctions administered by OFAC, be prohibited by U.S. sanctions administered by OFAC.
  
  

12. Prohibited jurisdictions ​

• You confirm that you are not a national or resident of the following prohibited jurisdictions: Afghanistan, Albania, Belarus, Burkina Faso, Central African Republic, China, Crimea and Sevastopol, Darfur, Democratic Republic of the Congo, Donetsk People’s Republic (DNR), Luhansk People’s Republic (LNR), Zaporizhzhia and Kherson oblasti, Eritrea, Guam, Guinea-Bissau, Haiti, Iran, Iraq, Jamaica, Lebanon, Libya, Mali, Myanmar/Burma, North Korea, Panama, Russia, Senegal, Somalia, South Sudan, Sudan (excluding Darfur), Syria, Uganda, United States Minor Outlying Islands, US Virgin Islands, Yemen.
  
  

13. Changes to the Terms ​

• We may modify these Terms by providing notice of such changes by sending you an email, providing notice through the Services, or updating the “Last Updated” date at the top of these Terms. By clicking on an “I Agree” button or checkbox presented with the modified Terms, or by continuing to access or use the services, you confirm your agreement to the modified Terms. If you do not agree to any modification to these Terms, you must stop using the Services. We encourage you to frequently review the Terms to ensure you understand the terms and conditions that apply to your use of the Services.
  
  

14. Final provisions ​

• The Terms and any legal relationship arising out of this document shall be governed by and construed under the laws of Lithuania. You agree to settle all their disputes arising out of or in connection with the Terms under the laws of Lithuania. The invalidity or unenforceability of any provision of the Terms shall not affect the validity or enforceability of any other provision of the Terms, which shall remain in full force and effect. Our failure to exercise any right arising out of a violation of the Terms committed by you shall not operate as a waiver. We reserve the right to resort to any remedy at any time to protect our interests and intellectual rights to the protected elements of the Website.