CryptoTycoon
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Risks
CryptoTycoon is currently in the development stages and there are a variety of unforeseeable risks. You acknowledge and agree that there are numerous risks associated with interacting CryptoTycoon.
IF YOU DECIDE TO ACQUIRE $CTT OR PARTICIPATE IN CRYPTOTYCOON PRODUCTS, YOU EXPRESSLY ACKNOWLEDGE, ACCEPT AND ASSUME THE FOLLOWING RISKS:
  • Uncertain Regulations and Enforcement Actions: Uncertain Regulations and Enforcement Actions: The regulatory status of CryptoTycoon, $CTT and distributed ledger technology is unclear or unsettled in many jurisdictions. The regulation of crypto assets have become a primary target of regulation in all major countries in the world. It is impossible to predict how, when or whether regulatory agencies may apply existing regulations or create new regulations with respect to such technology and its applications, including $CTT and/or CryptoTycoon. Regulatory actions could negatively impact $CTT and/or CryptoTycoon in various ways. The Company, the Distributor (or their respective affiliates) may cease operations in a jurisdiction in the event that regulatory actions, or changes to law or regulation, make it illegal to operate in such jurisdiction, or commercially undesirable to obtain the necessary regulatory approval(s) to operate in such jurisdiction.
  • Inadequate disclosure of information: As of today, CryptoTycoon is still under inital development, consensus mechanisms, algorithms, codes, game mechanisms, and other technical details and parameters may be constantly and frequently updated and changed. Although this whitepaper contains the most current information relating to CryptoTycoon, it is not absolutely complete and may still be adjusted and updated by the CryptoTycoon team from time to time. The CryptoTycoon team has neither the ability nor obligation to keep holders of $CTT informed of every detail (including development progress and expected milestones) regarding the project to develop CryptoTycoon, hence insufficient information disclosure is inevitable and reasonable.
  • Competitors: Various types of decentralized Dapps, games and networks are emerging at a rapid rate, and the industry is increasingly competitive. It is possible that alternative networks could be established that utilize the same or similar code and protocol underlying $CTT and/or CryptoTycoon and attempt to re-create similar facilities. CryptoTycoon may be required to compete with these alternative networks, which could negatively impact $CTT and/or CryptoTycoon.
  • Unforeseen Events: The development of CryptoTycoon greatly depends on the continued co-operation of the existing technical team and expert consultants, who are highly knowledgeable and experienced in their respective sectors. The loss of any member may adversely affect CryptoTycoon or its future development. Further, stability and cohesion within the team is critical to the overall development of CryptoTycoon. There is the possibility that conflict within the team and/or departure of core personnel may occur, resulting in negative influence on the project.
  • Failure to develop: There are risks that the development of CryptoTycoon will not be executed or implemented as planned, for a variety of reasons, including without limitation the event of a decline in the prices of any crypto asset, virtual currency or $CTT, unforeseen technical difficulties, and shortage of development funds.
  • Security weaknesses: Hackers or other malicious groups or organizations may attempt to interfere with $CTT and/or CryptoTycoon in a variety of ways, including, but not limited to, software attacks, denial of service attacks, consensus-based attacks, Sybil attacks, contract bug exploiting, smurfing and spoofing. Furthermore, there is a risk that a third party or a member of the Company, the Distributor or their respective affiliates may intentionally or unintentionally introduce weaknesses into the core infrastructure of $CTT and/or CryptoTycoon, which could negatively affect $CTT and/or CryptoTycoon. Further, the future of crypto industry or Binance Smart Chain itself and security innovations are highly unpredictable (including without limitation development of quantum computing), could present unknown risks to $CTT and/or CryptoTycoon by rendering ineffective the consensus mechanism that underpins that blockchain protocol.
  • Other risks: In addition, the potential risks briefly mentioned above are not exhaustive and there are other risks (as more particularly set out in the Terms and Conditions) associated with your participation in CryptoTycoon, as well as acquisition of, holding and use of $CTT, including those that the Company or the Distributor cannot anticipate. Such risks may further materialize as unanticipated variations or combinations of the aforementioned risks. You should conduct full due diligence on the Company, the Distributor, their respective affiliates, and the CryptoTycoon team, as well as understand the overall framework, mission and vision for CryptoTycoon prior to participating in the same and/or acquiring $CTT.
Last modified 11d ago
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