Account Archive Policy
- Archiving of Inactive Accounts Due to Transition to FSR Digital
1.1 Blocktrade and its successors/assignees (“Blocktrade”) reserve the right to archive any user account (“Account”) that has been inactive for a period of twelve (12) months or more (“Inactive Period”). Inactivity shall be determined based on the absence of any activity or other User-initiated actions on the Account during the Inactive Period.
1.2 Prior to archiving an Account, Blocktrade shall provide notice to the User via the email address associated with the Account, at least seven (7) days in advance of the proposed archiving date for accounts affected by the transition to FSR Digital. Blocktrade may, at its discretion, provide a longer notice period.
1.3 Upon archiving, the Account shall be placed in a read-only or restricted access state, during which the User may still access Account information but shall be unable to perform transactions, deposits, or withdrawals without first reactivating the Account. Archived Accounts shall remain subject to all applicable terms of this Agreement.
- Reactivation of Archived Accounts
2.1 A user may request reactivation of an Archived Account by contacting Blocktrade’s customer support and completing any required identity verification or security procedures, as determined by Blocktrade in its sole discretion.
2.2 Blocktrade may, at its discretion, impose a reactivation fee for processing the restoration of an Archived Account to active status, as specified in the Fee Table set forth in Schedule A of this Agreement (or as otherwise published on Blocktrade’s website and updated from time to time).
2.3 Reactivation shall be processed within a reasonable timeframe, as determined by Blocktrade. Alternatively, at the discretion of Blocktrade, the user may be given the opportunity to withdraw their assets through the unarchive process by paying any fee determined to reasonably cover the cost of reactivation and withdrawal.
2.4 Blocktrade reserves the right to deny reactivation if the User fails to meet verification standards, fails to pay the applicable reactivation fee, if the Account is subject to legal restrictions, or for any other reason.
- Fees for Non-Withdrawal of Virtual Assets in Archived Accounts
3.1 If Virtual Assets remain in an Archived Account and are not withdrawn by the User by 28th September 2025, or any date so extended by Blocktrade (“Transition Date”) following the archiving date for accounts archived due to inactivity or the transition to FSR Digital, Blocktrade, may in accordance with the Fee Table and applicable law impose maintenance or dormancy fees on such Virtual Assets to cover administrative, storage, and security costs associated with maintaining the Archived Account. After the Transition Date, assets will remain safeguarded and withdrawable by the User in accordance with applicable law, subject to any ongoing maintenance or dormancy fees.
3.2 Such fees shall be calculated and charged in accordance with the Fee Table set forth in Schedule A of this Agreement (or as otherwise published on Blocktrade’s website and updated from time to time). Fees may be deducted directly from the Virtual Assets held in the Archived Account, converted to a fiat or stablecoin equivalent converted at a fair market rate determined using aggregated pricing from at least two reputable exchanges or pricing providers, with the applicable rate disclosed to the user.
3.3 The Fee Table shall specify the applicable fee rates, which may include flat fees, percentage-based fees, or tiered structures based on the value or type of Virtual Assets held, the duration of archiving beyond the Transition Date deadline, and any other relevant factors.
3.4 Fees shall be deducted only from available balances and shall not create a negative balance.
3.5 Users will not be liable for unlimited or open-ended costs (such as legal or investigative expenses). Any extraordinary costs will be capped at the account’s available balance.
- User Responsibilities and Limitations
4.1 Users are responsible for monitoring their Account activity and ensuring timely withdrawal of Virtual Assets by the Transition Date to avoid archiving and associated fees due to the transition to FSR Digital. Blocktrade shall not be liable for any losses arising from a User’s failure to respond to notices, pay reactivation fees, or maintain Account activity.
4.2 All fees charged under this clause, including reactivation fees and dormancy fees, are non-refundable. Users acknowledge that market fluctuations may affect the value of Virtual Assets during the archiving period, and Blocktrade shall not be responsible for such fluctuations.
4.3 This clause shall survive any termination or archiving of the Account. Blocktrade may amend these provisions, including the Fee Table, at any time in accordance with market conditions according to applicable notice provisions as per the Terms of Use.