Terms of Use (ToU)

Welcome to verifychain.co (“we,” “our,” or “us”). VerifyChain is not a trading, exchange, or investment platform. Our sole purpose is to provide users with tools and services to verify the security and integrity of their crypto assets and to access bespoke on-chain protection coverage. We are committed to safeguarding your privacy and ensuring the security of your personal information. This Privacy Policy outlines how we collect, use, disclose, and protect your data when you use our verification and coverage services. By accessing or using our services, you agree to the practices described in this policy.

We collect various types of information to deliver and enhance our verification and coverage services.

This includes:

• Personal Information: When you register, we may collect details such as your name, email address, and phone number.
• Wallet & Protocol Data: To verify your assets and assess coverage eligibility, we may collect wallet addresses and protocol interaction data.
• Verification & Claim Data: We collect data related to your verification requests, coverage selections, and any claims you submit, including on-chain proof of loss.
• Usage Data: We gather information about your interactions with our platform, including log files, device information, support communications, and usage patterns.
• Third-Party Data: This may include KYC/AML verification records, fraud detection analytics, and oracle or protocol risk assessments.

We use the information we collect for the following purposes:

• To provide, operate, and maintain our crypto verification and coverage services
• To assess and process your custom coverage requests and claims
• To improve, personalise, and optimise our platform’s security verification tools
• To respond to your inquiries and provide customer support
• To comply with applicable legal and regulatory obligations
• To facilitate communication regarding coverage updates, claim statuses, or security alerts

We may share your personal information with third parties under the following circumstances:

• With your explicit consent
• To comply with legal obligations or regulatory requirements
• With auditors, legal advisors, or claim assessors for coverage validation and compliance
• With blockchain analytics or oracle providers to verify on-chain events and proof of loss
• In response to lawful requests, such as court orders or subpoenas

We may transfer personal information outside Europe. In such cases, we ensure appropriate safeguards are in place and that transfers comply with applicable legal standards.

We implement industry-standard security measures to protect your personal information against unauthorized access, disclosure, alteration, or destruction. Please note, however, that no method of transmission over the Internet or electronic storage is 100% secure.

Sharing with Professional Advisors and for Compliance

We may share information with our professional advisors for audit, compliance, and legal purposes. Additionally, where required by law or for legitimate security concerns, we may disclose information to public authorities or law enforcement agencies.

We retain your information only for as long as necessary to fulfill the purposes outlined in this policy or to comply with legal, regulatory, or contractual obligations.

Leveraged Coverage Portfolios

VerifyChain offers specially dedicated liquidity pools where users can deposit funds to act as leveraged coverage providers. These portfolios expose participants to a high-reward / high-risk yield scenario. As a leveraged coverage provider, you earn rewards in stablecoins, BMI tokens, and Shield mining tokens. Due to their high-yield nature, these portfolios are ideally suited for structured investment products seeking enhanced capital efficiency.

Single Protocol Cover

When you hold crypto assets within a specific protocol, those assets are exposed to risks inherent to that protocol’s smart contracts. VerifyChain’s Single Protocol Cover is designed to protect your deposited assets against smart contract failures and economic risks within one (1) specific protocol.

Covered Risks

For protocols deployed on Ethereum, EVM-compatible networks, or Ethereum Layer 2s, Single Protocol Cover protects against:

• Smart contract exploits or hacks
• Oracle failure or manipulation
• Liquidation mechanism failure
• Governance takeovers or malicious proposals

Proof of Loss

To file a valid claim under Single Protocol Cover, you must provide on-chain proof of loss. This requires either signing a message or sending a zero-value transaction from the affected wallet address to verify ownership and control. Our claim assessors will then review the on-chain history to confirm:

• Whether funds were deposited at the time of the loss event
• Whether active coverage was in place during the event
• The exact amount of funds lost

Claim Filing Process

After a qualifying loss event, a 14-day cool-down period applies. If you held active coverage at the time of the event, you may submit a claim with supporting evidence. You may include written details, documentation links, or file uploads. Once submitted, independent claim assessors will review, discuss, and vote on approval. If approved, payouts are redeemable after a 24-hour post-claim period. Denied claims may be resubmitted with additional evidence.

Claim Payouts

To date, VerifyChain’s community has paid out over $10,819,078.50 to users who suffered verifiable losses due to protocol exploits and technical failures. For full transparency, detailed case studies and historical claims are available in our Claims History section.

Use of Cookies and Tracking Technologies

Cookies are sent to your browser from our platforms and stored on your device. We use tracking technologies such as web beacons and scripts to collect and analyze data to improve and optimize our verification services.

Third-Party Applications and Cookies

We may integrate third-party applications to enhance user experience. These third parties may place cookies on your device. You can manage these cookies by visiting the respective third-party websites.

Managing Cookies

You can configure your browser to reject all cookies or to alert you when a cookie is being sent. Please note that disabling cookies may limit your ability to use certain features of our services.

Storage and International Transfers

Personal information we collect may be transferred to and processed in countries outside the European Economic Area (EEA) and the United Kingdom (UK). We take all necessary precautions to ensure your personal data is handled securely and in accordance with this Privacy Policy. Any such transfers outside the EEA or UK will be governed by the European Commission’s Standard Contractual Clauses (SCCs) or equivalent UK-approved mechanisms.

Data Retention Period

We retain your personal data for a maximum of 7 (seven) years to comply with applicable laws and regulations.

Your Rights

You have certain rights regarding your personal information, including:

• Access: You may request access to the personal information we hold about you.
• Rectification: You may correct any inaccuracies in your personal data.
• Erasure: You may request deletion of your personal information.
• Objection: You may object to the processing of your personal data.

We may update this Privacy Policy periodically to reflect changes in our practices or legal obligations. We will notify you of any material changes.

If you have questions or concerns regarding this Privacy Policy, our data practices, or wish to exercise any of the rights listed above, please contact us using the button below. Our team is committed to responding within 24 to 48 hours.