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VNX S.A. Privacy Policy


Welcome to the privacy policy of VNX S.A. (the “privacy policy“), a company registered in Luxembourg with company registration numberB228646 and registered office address at 9, rue de Laboratoire, 1911, Luxembourg (“VNX” or “we”).

This privacy policy is an integral part of the terms of use for our website at www.vnx.io (the “website“) and services.

For your convenience, this privacy policy is provided in a layered format so you can click through to the specific areas set out below. Please also use the Glossary to understand the meaning of some of the terms used in this privacy policy.



VNX as a data controller under this privacy policy respects your privacy and is committed to protecting your Personal Data. This privacy policy will inform you what Personal Data (see Glossary) we may collect; how we or other authorized party, as the case may be, processes (i.e. collects, uses, stores, discloses, etc.) your Personal Data when you (data subject) visit our website (www.vnx.io) (regardless of where you visit it from), use the website and/or services provided at the  website or offered by VNX, or when you otherwise interact with us,  and tell you about your privacy rights and how applicable laws protect you.

This website is not intended for children and we do not knowingly collect data relating to children.

It is important that you read this Privacy Policy so that you are fully aware of how and why we are using your privacy data. This Privacy Policy overrides and replaces any supplements, other notices and policies (if any) concerning processing of the Personal Data by VNX.

This privacy policy shall come into effect at the moment you first access the website or commence use of any of our services. By accessing, browsing or using the website and/or any of our services you irrevocably and unconditionally accept and adhere to the provisions of this privacy policy without any exemptions, limitations and exclusions.

In the event you disagree with any provision of this privacy policy or would not like to provide your consent for processing of your Personal Data, you shall cease using the website or any of the VNX’s services immediately.


If you have any questions about this privacy policy or our privacy practices, please contact us by email [email protected].


We keep our privacy policy under regular review. This version was last updated on 12 November 2018.

It is important that the Personal Data we hold about you is accurate and current. Please keep us informed if your Personal Data changes during your relationship with us.


Our website may include links to third-party websites, plug-ins and applications. Clicking on those links or enabling those connections may allow third parties to collect or share data about you. We do not control these third-party websites and are not responsible for their privacy statements and information that is submitted to or collected by these third parties. When you leave our website, we encourage you to read the privacy policy of every website you visit.


The type of Personal Data we collect depends on how you are interacting with us and which services you are applying for or using. In many cases, you can choose whether or not to provide us with Personal Data, but if you choose not to, you may not get full functionality from the website or our services.

We also collect information about you in course of our anti-money laundering, risk management and know your customer procedures for specific purposes and services.

When you visit the website or use VNX services, the types of your Personal Data that we collect, use, store and transfer may be grouped as follows:

  • Personal Data that you voluntarily disclose on an individual basis by filling in forms or by corresponding with us by post, phone, email or otherwise, including:
    • Contact details:  full name, company name, phone number, email address, other contact information you provide like pages or accounts in social networks (e.g. LinkedIn, Facebook, Twitter), groups or identifiers in messaging services (e.g. Telegram, WhatsApp), etc.,
    • Identity information: date of birth, username or similar identifier; personal identification documents’ details, images of your passport, driving license or other government issued ID;
    • Residence information: mailing address, country of residence, utility bills or similar verification information;
    • Financial information: bank account numbers, bank card numbers, cryptocurrency wallet address; and
    • Other information you provide to us.


  • Personal Data collected automatically (collected in the course of your interaction with the website or services, etc.) when you use the website and our services. This is mainly statistical data, including:
    • Device information: computer or mobile device, operating system, web browser, IP address, location data (if relevant function is activated), other technical identifiers;
    • Browsing history: your browsing and interactions history on the website, frequency and time of visits;
    • Cookies based information: various tracking information in accordance with our cookies policy available at the website.


  • Personal Data from external sources (public sources and third party service providers), that we will use mainly for compliance with our anti-money laundering, risk management and know your customer procedures when providing services to you, including:
    • Information on business activities;
    • PEP databases information;
    • Technical data (like Google Analytics).

We do not collect any Special Categories of Personal Data (see Glossary) about you (including details about your race or ethnicity, religious or philosophical beliefs, sex life, sexual orientation, political opinions, trade union membership, information about your health, and genetic and biometric data). Nor do we collect any information about criminal convictions and offences.


You may always refuse to supply your Personal Data, though this may prevent you from engaging in certain activities and/or obtaining certain services from VNX. Where we need to collect Personal Data by law, or under internal policies, and you fail to provide that data when requested or provide us with inaccurate, misleading or incomplete Personal Data, we may at the sole discretion without any notice to you impose limitations and restrictions on your use of the respective parts of the website or our services and/or terminate your access to the respective part of the website or our services.


We will only process your Personal Data when the law allows us to in our Legitimate Interests (see Glossary).

Most commonly, we will use your Personal Data in the following circumstances:

  • Where you have given us your consent for processing of your Personal Data for specific purposes.
  • Where we need to Perform a Contract (see Glossary) we are about to enter into or have entered into with you.
  • Where it is necessary for our Legitimate Interests (or those of a third party) and your interests and fundamental rights do not override those interests.
  • Where we need to comply with a legal obligation.
  • Where processing is necessary in order to protect the vital interests of the data subject or third parties.

Generally, we do not rely on consent as a legal basis for processing your Personal Data, except where specifically required by applicable law.


We have set out below a description of the principal ways we plan to use your Personal Data.

We may use your Personal Data for the following purposes:

  • To register you as our customer;
  • To verify that you are a unique individual or company, including in accordance with our anti-money laundering, risk management, know your customer, and other applicable procedures, as well as applicable laws and regulations;
  • To manage our relationship with you, including supporting with the legal documentation, accounting, billing, processing requests;
  • To render our services;
  • To administer and protect our business and the website (including troubleshooting, data analysis, testing, system maintenance, support, reporting and hosting of data);
  • To use data analytics to improve our website, marketing, customer relationships and experiences;
  • To improve the website and services of VNX;
  • To fulfill our legal and regulatory obligations;
  • To update you with the information, news, events, products, services or other information that you have requested or consented to;
  • To communicate with you (e.g., answering your requests, sending you various service related administrative notices);
  • To monitor and analyse trends, usage and activities of the website;
  • To detect, investigate and prevent fraudulent transactions or unauthorized or illegal activities;
  • To combine information we collect from or about you with other information; and
  • To carry out any other purpose or reason for which Personal Data was collected.


Subject to your consent or where we are otherwise allowed to do so in accordance with applicable laws (including GDPR), we may, from to time, send you updates, news or other marketing materials that we believe are important to our customers and relating to our services.

Nevertheless, your consent to receive such marketing information may be withdrawn anytime by clicking “unsubscribe” button in corresponding email or sending us a message to [email protected]


You can set your browser to refuse all or some browser cookies, or to alert you when websites set or access cookies. If you disable or refuse cookies, please note that some parts of this website or services may become inaccessible or not function properly. For more information about the cookies we use, please [link to cookies policy].


We will only use your Personal Data for the purposes for which we collected it, unless we reasonably consider that we need to use it for another reason and that reason is compatible with the original purpose. If you wish to get an explanation as to how the processing for the new purpose is compatible with the original purpose, please contact us.

If we need to use your Personal Data for an unrelated purpose, we will notify you and we will explain the legal basis which allows us to do so.

Please note that we may process your Personal Data without your knowledge or consent, in compliance with the above rules, where this is required or permitted by law.


Your Personal Data is treated as highly confidential. We may only disclose your Personal Data with the parties set out below for the purposes set out in paragraph 3 above (Purposes for which we will use your Personal Data).

  • To our employees, who need access to Personal Data;
  • Service providers who provide IT and system administration services or other services for us;
  • Professional advisers including lawyers, bankers, auditors and insurers who provide consultancy, banking, legal, insurance and accounting services to the extent they need access to Personal Data;
  • Third parties to whom we may choose to sell, transfer or merge parts of our business or our assets. Alternatively, we may seek to acquire other businesses or merge with them. If a change happens to our business, then the new owners may use your Personal Data in the same way as set out in this privacy policy;
  • With your consent or at your instruction;
  • Our group companies, i.e. companies under common control or ownership adhering to obligations under this privacy policy;
  • In response to a Personal Data disclosure request by public authorities or third parties (if such disclosure is required by applicable laws and regulations); and
  • If we believe your actions are inconsistent with our policies, applicable regulations and laws in order to protect our interests, rights of VNX or third parties.

We require all third parties to respect the confidentiality of your Personal Data and to treat it in accordance with the law and privacy policy. We do not allow our third-party service providers to use your Personal Data for their own purposes and only permit them to process your Personal Data for specified purposes and in accordance with our instructions


Generally, we process and store your Personal Data in the European Union and do not transfer your Personal Data outside the European Union.  However, our data centers or some of our third parties service providers may be based outside the European Union so their processing of your Personal Data potentially may involve a transfer of data outside the European Union. Transmission of Personal Data of EU persons to a recipient outside of the European Union must be subject to protection at least equivalent to that sought by the GDPR. Whenever we transfer your personal data out of the European Union, we ensure a similar degree of protection is afforded to it by ensuring at least one of the following safeguards is implemented:

  • We will only transfer your Personal Data to countries that have been deemed to provide an adequate level of protection for Personal Data by the European Commission (The European Commission has the power to determine whether a country outside of the European Union offers an adequate level of data protection and has so far recognized several countries, available at https://ec.europa.eu/info/law/law-topic/data-protection/data-transfers-outside-eu/adequacy-protection-personal-data-non-eu-countries_en));
  • Where we use certain service providers, we may use specific contracts which give Personal Data the same protection it has in Europe.
  • Where we use providers based in the US, we may transfer Personal Data to them if they are part of the Privacy Shield which requires them to provide similar protection to personal data shared between the European Union and the US.

Please contact us if you want further information on the specific mechanism used by us when transferring your Personal Data out of the European Union.


We have put in place appropriate security, administrative and technical measures to prevent your Personal Data from being destructed, accidentally lost, used or accessed in an unauthorised way, altered or disclosed. In addition, we limit access to your Personal Data to those employees, agents, contractors and other third parties who have a business need to know. They will only process your Personal Data on our instructions and they are subject to a duty of confidentiality.

These measures are adjusted and updated continuously in tandem with technical developments and organizational changes. Additionally, Personal Data protection audits and other controls are carried out on a regular basis.

We take reasonable steps to protect the security of the Personal Data communicated through the website. However, no computer security system is entirely fool proof and the Internet is not a secure method of transmitting information. As a result, we do not assume any responsibility for the Personal Data you submit to or receive from us through the Internet, or for any unauthorized access or use of that information, and we cannot and do not guarantee that information communicated by you to us or sent to you by us will be received, or that it will not be altered before or after its transmission to us. You agree to not hold us or any of our employees, directors and affiliates liable for any loss or damage of any sort incurred as a result of any misappropriation, interception, modification, deletion, destruction or use of information provided through the website.

We have put in place procedures to deal with any suspected Personal Data breach and will notify you and any applicable regulator of a breach where we are legally required to do so.



We will only retain your Personal Data for as long as reasonably necessary to fulfil the purposes we collected it for, including for the purposes of satisfying any legal, regulatory, tax, accounting or reporting requirements and so-long as your account is active. We may retain your Personal Data for a longer period in the event of a complaint or if we reasonably believe there is a prospect of litigation in respect to our relationship with you.

To determine the appropriate retention period for Personal Data, we consider the amount, nature and sensitivity of the Personal Data, the potential risk of harm from unauthorised use or disclosure of your Personal Data, the purposes for which we process your Personal Data and whether we can achieve those purposes through other means, and the applicable legal, regulatory, tax, accounting or other requirements.

In some circumstances you can ask us to delete your data, see below for further information.

In some circumstances we will anonymise your Personal Data (so that it can no longer be associated with you) for research or statistical purposes, in which case we may use this information indefinitely without further notice to you.


If you are a resident of the European Union you have the rights relating to Personal Data as provided in the GDPR and other applicable laws of the member states of the European Union and this privacy policy, to:

  • Request access to your Personal Data. If you are within the European Union, this enables you to receive a copy of the Personal Data we hold about you and to check that we are lawfully processing it. After your request is received, our privacy team reviews the form and conducts requestor’s identity verification without undue delay. Upon successful verification, you are provided with a copy of your Personal Data.
  • Request correction of the Personal Data that we hold about you (“Rectification right”). This enables you to have any incomplete or inaccurate information we hold about you corrected.
  • Request erasure (“Right to be forgotten”) of your Personal Data. This enables you to ask us to delete or remove Personal Data where there is no good reason for us continuing to process it. You also have the right if you are within the European Union to ask us to delete or remove your personal data where you have exercised your right to object to processing (see below), unless there is a legal requirement that prohibits such request to be fulfilled. When request is fulfilled, you will be informed that your Personal Data is erased and is not-longer collected, however, to fulfil our legal requirements, we will store information about each requestor for the purposes of providing an evidence that a request has been fulfilled.
  • Object to processing of your Personal Data. This right exists where we are relying on a Legitimate Interest as the legal basis for our processing and there is something about your particular situation, which makes you want to object to processing of your personal data on this ground.
  • Request the restriction of processing of your Personal Data. This enables you to ask us to suspend the processing of personal data about you, for example if you want us to establish its accuracy or the reason for processing it.
  • Right to be informed. If you are inquiring about processing activities conducted with respect to your Personal Data, we, without undue delay, will provide information about: (i) purposes of processing; (ii) categories and types of Personal Data; (iii) retention period (or criteria to determine the period); (iv) source of the relevant Personal Data; (v) privacy rights.
  • Request the transfer of your Personal Data. If you are within the European Union, we will provide to you your Personal Data in a structured, commonly used, machine-readable format with your discretion to transmit it to another controller. Note that this right only applies to automated information which you initially provided consent for us to use or where we used the information to Perform a Contract with you.
  • Withdraw consent. This right only exists where we are relying on your consent to process your Personal Data. If you withdraw your consent, we may not be able to provide you with access to the certain specific functionalities of our website or specific services. We will advise you if this is the case at the time you withdraw your consent.
  • Automated decisions. You have a right to be informed on any automated decision processes. You may contest any automated decision made about you where this has a legal or similar significant effect and ask for it to be reconsidered.
  • The right to lodge a complaint with a supervisory authority. Supervisory authority means an independent public authority which is established by an EU member state pursuant to Article 51 of the GDPR. In Luxembourg you can make a complaint to the Luxembourg data protection authority (Commission nationale pour la protection des données, Tel: 00352 26 10 60 1 or at www.cnpd.public.lu).

If you want to exercise any of the rights described above, please contact us by [email protected]


Typically, you will not have to pay a fee to access your Personal Data (or to exercise any of the other rights). However, except in relation to Consent Withdrawal, we may charge a reasonable fee if your request is clearly unfounded, repetitive or excessive, or, we may refuse to comply with your request in these circumstances.


We may need to request specific information from you to help us confirm your identity and ensure your right to access your Personal Data (or to exercise any of your other rights). This is a security measure to ensure that Personal Data is not disclosed to any person who has no right to receive it. We may also contact you to ask you for further information in relation to your request to speed up our response.


We try to respond to all legitimate requests within one month. Occasionally it could take us longer than a month if your request is particularly complex or you have made a number of requests. In this case, we will notify you and keep you updated.



Complying with a legal obligation means processing your Personal Data where it is necessary for compliance with a legal obligation that we are subject to.

Legitimate Interest means our interest in conducting and managing our business to enable us to give you the best service/product and the best and most secure experience. We make sure we consider and balance any potential impact on you (both positive and negative) and your rights before we process your Personal Data for our legitimate interests. We do not use your Personal Data for activities where our interests are overridden by the impact on you (unless we have your consent or are otherwise required or permitted to by law). You can obtain further information about how we assess our legitimate interests against any potential impact on you in respect of specific activities by contacting us.

Performance of Contract (Perform a Contract) means processing your Personal Data where it is necessary for the performance of a contract to which you are a party or to take steps at your request before entering into such a contract.

Personal Data has the meaning ascribed in Regulation (EU) 2016/679 of the European Parliament and the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation or “GDPR”).

Special Categories of Personal Data means types of Personal Data referred into Article 9 of the GDPR.