Common use of Token Security Clause in Contracts

Token Security. Equity Tokens may be subject to expropriation and or/theft. Hackers or other malicious groups or organizations may attempt to interfere with the Equity Tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, S▇▇▇▇ attacks, smurfing and spoofing. Furthermore, because the Ethereum platform rests on open source software and Equity Tokens are based on open source software, there is the risk that Ethereum smart contracts may contain intentional or unintentional bugs or weaknesses which may negatively affect the Equity Tokens or result in the loss of Purchaser’s Equity Tokens, the loss of Purchaser’s ability to access or control Purchaser’s Equity Tokens or the loss of ETH in Purchaser’s account. In the event of such a software bug or weakness, there may be no remedy and holders of Equity Tokens are not guaranteed any remedy, refund or compensation.

Appears in 2 contracts

Sources: Equity Token Purchase Agreement (Blockchain Industries, Inc.), Equity Token Purchase Agreement (Blockchain Industries, Inc.)

Token Security. Equity PROOF Tokens may be subject to expropriation and or/and/or theft. Hackers or other malicious groups or organizations may attempt to interfere with the Equity PROOF Smart Contract or PROOF Tokens in a variety of ways, including, including but not limited to, to malware attacks, denial of service attacks, consensus-based attacks, S▇▇▇▇ attacks, smurfing and spoofing. Furthermore, because the Ethereum platform rests on open source software and Equity PROOF Tokens are based on open source software, there is the risk that Ethereum smart contracts may contain intentional or unintentional bugs or weaknesses which may negatively affect the Equity PROOF Tokens or result in the loss of PurchaserBuyer’s Equity PROOF Tokens, the loss of PurchaserBuyer’s ability to access or control PurchaserBuyer’s Equity PROOF Tokens or the loss of ETH in PurchaserBuyer’s account. In the event of such a software bug or weakness, there may be no remedy and holders of Equity PROOF Tokens are not guaranteed any remedy, refund or compensation.

Appears in 1 contract

Sources: Token Purchase Agreement

Token Security. Equity Tokens may be subject to expropriation and or/theft. Hackers or other malicious groups or organizations may attempt to interfere with the Equity Tokens in a variety of ways, including, but not limited to, malware attacks, denial of service attacks, consensus-based attacks, S▇▇▇▇ attacks, smurfing and spoofing. Furthermore, because the Ethereum platform rests on open source software and Equity Tokens are based on open source software, there is the risk that Ethereum smart contracts may contain intentional or unintentional bugs or weaknesses which may negatively affect the Equity Tokens or result in the loss of Purchaser’s Equity Tokens, the loss of Purchaser’s ability to access or control Purchaser’s Equity Tokens or the loss of ETH in Purchaser’s account. In the event of such a software bug or weakness, there may be no remedy and holders of Equity Tokens are not guaranteed any remedy, refund or compensation.

Appears in 1 contract

Sources: Equity Token Purchase Agreement (Blockchain Industries, Inc.)