In the months behind us, we have delivered on several of our commitments, which we have detailed in our Inlock Recovery and Restructuring Plan and in our regular communications. We have also completed the Migration to the Vigiler platform and are making steady progress in reducing compensation balances, which we continue to treat as a top priority on the platform.

As we indicated in our last “Choose your payout options” communication on 26 April 2023, customers who do not wish to take advantage of the Exit Payout program will automatically be moved to the Scheduled Release program. Detailed guidance on both schemes was published on 2 April 2023.

Based on our recent analysis, we have observed that the trend of interest in the Exit Payout programme has significantly decreased. In light of this trend, we inform our customers that the Exit Payout programme will be discontinued on 31 December 2023. Please note that as of 1 January 2024, there will no longer be any possibility to participate in the Exit Payout scheme on an individual basis. Therefore, if you wish to use this option and accept its conditions, you can still do so until 31 December 2023.

Furthermore, please note that all customers must confirm their intention to participate in and accept the terms and conditions of the “Scheduled Release” by 31 December 2023.

Accounts of our customers who do not confirm their choice of the above payment methods by 31 December 2023 will be closed. Please also note that this measure is considered permanently closed. No further claims, even on an individual basis, may be initiated by our customers against these accounts.

In addition, we would like to draw the attention of our customers to our communication of 4 March 2023, in which we offered the possibility of full payment for a limited period to certain customers. It has been noted that a number of accounts that were affected by this scheme did not take up the option to withdraw, despite the fact that they could have done so without a loss write-off.

Managing and maintaining these inactive accounts imposes a significant administrative burden on our company. These types of burdens impede the prompt and efficient resolution of claims, which is essential to maintaining and improving the quality of our service. For this reason, we have decided to close accounts that are persistently inactive or do not accept payment terms for the reasons set out below:

By registering for and continuing to use the Inlock platform, you as the Customer have accepted the Service Provider’s Terms and Conditions and a contractual relationship has been established between you as the Customer and the Service Provider, a limited liability company incorporated under the laws of Lithuania.

Under the terms of the General Terms and Conditions under the heading “Financial activities on inlock.io”, the Service Provider may, at its sole discretion, refuse any claim, limit the amount allowed or impose any other conditions or restrictions it deems necessary for the use of the Inlock platform. The Provider reserves the right to impose such measures without prior notice. 

Pursuant to the provisions of the TOS regarding account closure, you agree and acknowledge that upon the closure of your Inlock Account: 

  • You no longer have access to it; 
  • Under no circumstances will the Service Provider notify you or deliver to you any cryptocurrency that arrives at your address following the closure;
  • The Service Provider reserves the right (but is not obligated) to delete the information, the account and the data stored on its servers, and reserves the right to retain any information it deems necessary for legal, compliance or operational purposes. 

In addition to the foregoing, the Service Provider will use reasonable efforts to notify you of any decision that may result in the restriction, suspension or termination of your Inlock Account, unless prohibited by any governmental, regulatory or legal authority, or unless doing so would compromise the Service Provider’s security and/or risk procedures. You agree that the Service Provider is under no obligation to inform you of the fact or reason for the decision to limit, suspend or terminate your Inlock Account and assumes no responsibility for the limitation, suspension or termination of your Inlock Account. 

In no event will the Service Provider, its operating partners, or any of its contractors (including its directors, members, employees, and agents) be liable for any direct, indirect, special, consequential, or punitive damages, or any other damages whatsoever, including, but not limited to, loss of revenue, loss of business, loss of opportunity, loss of data, whether in contract, tort, or otherwise, damage resulting from use, inability to use or access the Inlock platform and/or Inlock account, including, but not limited to, Inlock, information or error, interruption, deletion of files or emails, failure due to viruses, operational or transmission delays or other operational failures, whether Vis Major, communications failure, theft, corruption or unauthorized access to Provider’s records, programs or services. 

You agree that the Provider may assign all or any part of the TOS, including but not limited to a subsidiary or affiliate. In addition, in the event that Provider merges with or is acquired by a third party, we reserve the right to transfer information about you as part of the change in the merger, acquisition, or sale.