VNX Gold tokens issued by VNX are stored on the Platform in a special client Ethereum wallet. While the tokens are stored on the Platform, VNX ensures their safety. VNX is committed to ensuring that the security of the Platform meets the latest security standards and protects the assets stored on it from cyber risks.
In the event of misappropriation of VNX Gold tokens stored on the platform by unauthorized persons (for example, hackers), the VNX Commodities team will immediately restore the ownership rights of the true owners of the tokens. An unidentified VNX Gold token holder cannot access the gold in the vault. Therefore, while the tokens are stored on the Platform, the rights of their owners are reliably protected.
As already mentioned, VNX Gold tokens can be withdrawn from the Platform at any time by transferring to an “external” Ethereum wallet. As soon as a client withdraws VNX Gold tokens from the Platform, control over the security of the tokens passes to them, and cyber risks tend to increase. We urge clients to securely store their crypto wallet key (private key). Recovering a lost wallet key is impossible according to the rules of the Ethereum protocol. In case of loss of control over the tokens stored in an "external" wallet, the restoration of ownership is possible only in court (through the court of Liechtenstein). This is associated with both the difficulties of proving that the crypto wallet belonged to a particular client, and with the time and financial costs associated with legal proceedings.