Privacy Policy for Somerox AI-Driven Exchange
Last Updated: 17 February 2025
Introduction
At Somerox, we value the privacy and security of your personal information. This Privacy Policy outlines how we collect, use, protect, and disclose your information when you use our hybrid decentralized/centralized AI-driven exchange (the “Exchange”). By accessing or using the Somerox Exchange, you agree to the practices described in this Privacy Policy.
1. Information We Collect
We may collect the following types of information from users who interact with the Somerox Exchange:
Personal Identification Information: This may include your name, email address, phone number, government-issued identification, or any other information you provide when registering for an account or using the platform.
Account Information: This includes your username, transaction history, trading activity, and any other data related to the use of your account.
Financial Information: We may collect details related to your payments, deposits, and withdrawals to facilitate transactions on the Exchange.
Device and Usage Information: We may collect information about the devices you use to access the platform (e.g., IP address, browser type, device identifiers), as well as your activity on the Exchange (e.g., trading frequency, IP location, pages visited).
AI and Blockchain Data: As part of our hybrid decentralized/centralized model, our platform leverages artificial intelligence to optimize trading strategies and may analyze user data for this purpose. This analysis may include transaction patterns, wallet interactions, and other blockchain-based data.
2. How We Use Your Information
The data we collect is used for various purposes, including:
Account Creation and Management: To create and manage your account on the Exchange, including facilitating deposits, withdrawals, and trading activities.
Transaction Processing: To process your transactions, verify your identity, and ensure compliance with legal and regulatory requirements.
Platform Optimization: To enhance user experience, improve our AI algorithms, and tailor our services based on your behavior and preferences.
Security and Fraud Prevention: To detect and prevent fraudulent activities and ensure the security of your account and the overall platform.
Legal and Regulatory Compliance: To comply with legal and regulatory obligations, including anti-money laundering (AML) and know-your-customer (KYC) regulations.
Customer Support: To provide assistance with technical issues, disputes, or general inquiries.
Marketing and Updates (with your consent): To send you updates, promotions, or notifications about new features or changes to the platform, if you have opted in to receive such communications.
3. Data Storage and Protection
We implement robust technical and organizational measures to protect your personal data from unauthorized access, use, or disclosure. Your data may be stored on centralized servers and/or decentralized blockchain networks depending on the type of data and your interaction with the platform. We use encryption, multi-factor authentication, and other security protocols to safeguard your information.
However, no method of data transmission or storage can be 100% secure, and we cannot guarantee the absolute security of your information. By using the platform, you acknowledge and accept this risk.
4. Sharing Your Information
We do not sell your personal information to third parties. However, we may share your information in the following circumstances:
Service Providers: We may share data with third-party vendors who assist us in operating the Exchange and providing services such as payment processing, identity verification, and customer support.
Legal Compliance: We may disclose your information if required by law or in response to valid legal processes, such as subpoenas, court orders, or government requests.
Business Transfers: In the event of a merger, acquisition, or sale of all or part of Somerox, your information may be transferred to the new entity.
Decentralized Blockchain: Some of your transactions and activity may be publicly visible on the blockchain or shared with blockchain network participants in accordance with decentralized network protocols.
5. Your Rights and Choices
As a user, you have certain rights regarding your personal data:
Access: You have the right to request a copy of your personal data that we hold.
Correction: You can update or correct any inaccuracies in your personal data.
Deletion: You may request the deletion of your account and personal data, subject to legal obligations or pending transactions.
Opt-Out of Marketing: You can opt-out of marketing communications by following the unsubscribe instructions in the messages or by contacting us directly.
Withdrawal of Consent: If we process your data based on your consent, you have the right to withdraw that consent at any time.
To exercise these rights, please contact us at privacy@somerox.com.
6. Cookies and Tracking Technologies
We use cookies, web beacons, and other tracking technologies to improve the user experience, analyze trends, and monitor the usage of the Exchange. These technologies collect information such as your IP address, browser type, and website activity.
You can manage your cookie preferences through your browser settings. Please note that disabling cookies may impact the functionality of the Exchange.
7. Changes to This Privacy Policy
We may update this Privacy Policy from time to time. Any changes will be posted on this page with an updated “Last Updated” date. We encourage you to review this Privacy Policy regularly to stay informed about how we are protecting your data.
8. Contact Us
If you have any questions, concerns, or requests regarding this Privacy Policy, please contact us at:
Email: privacy@somerox.com