Returns and Refund Policy

1. Introduction

This Returns and Refund Policy ("Policy") describes the conditions under which refunds, cancellations, and transaction reversals may occur on the Bitprime platform (bitprime.io). The platform is operated by MBI.COM Sp. z o.o. ("the Company") and operates as a fiat-to-crypto transaction execution platform under a transit model.

By using Bitprime services, users acknowledge and accept the conditions described in this Policy.

2. Irreversibility of Digital Asset Transactions

Digital Asset transactions recorded on blockchain networks are generally irreversible by design.

Once a transaction has been confirmed on the blockchain and the exchange process has been completed, the transaction is considered final and non-refundable.

Bitprime shall not be liable for any losses resulting from:

  • market volatility
  • blockchain network behavior
  • user errors when providing wallet addresses or transaction details

This section applies only to crypto-assets processed as part of fiat-to-crypto transaction execution.

Users are responsible for verifying all transaction details prior to submitting an exchange request.

The Company does not maintain client balances; therefore, traditional safeguarding and segregation mechanisms are not applicable.

3. Fiat Currency Transactions

Because Bitprime operates as a fiat-to-crypto transaction execution platform under a transit model, strict procedures apply to fiat deposits and crypto asset purchases.

3.1 KYC Verification Failure

If a user sends fiat funds but fails to complete the mandatory identity verification (KYC) process, the transaction will be cancelled.

The funds will be refunded to the original payment source, minus any applicable banking, payment processing, or administrative fees.

Refunds for failed transactions will be processed in Euro (EUR) to the originating bank account.

Bitprime is not responsible for any currency conversion fees charged by the user's bank if their account is held in a currency other than EUR.

The Company operates a hybrid AML framework combining automated tools and internal compliance oversight, including manual review by designated compliance personnel and the MLRO.

3.2 Third-Party Payments

Bitprime accepts fiat payments only from accounts belonging to the verified user. Any payments originating from third parties will be rejected and returned to the sender. Banking and administrative fees may be deducted from the refund amount.

3.3 Chargebacks

Fraudulent chargebacks or payment disputes initiated after a transaction has been processed constitute a violation of Bitprime's Terms of Use.

Such actions may result in:

  • immediate suspension of the user account
  • cancellation of pending transactions
  • reporting to payment providers or law enforcement authorities

4. Cryptocurrency Transactions and Refund Conditions

4.1 Failed Exchange Transactions

If an exchange fails due to a technical error on the Bitprime platform or due to infrastructure failure, the deposited Digital Asset may be refunded to the user.

Refunds may occur when transactions remain in a "failed" or "awaiting exchange" state.

4.2 Refund Addresses

Refunds may only be issued to:

  • the original blockchain address from which the funds were sent, or
  • a pre-specified refund address provided during the transaction creation

Refunds cannot be sent to newly requested addresses after the transaction has been created, in order to prevent potential money laundering risks.

4.3 Network Fees

All refund transactions are subject to standard blockchain network fees (miner or validator fees). These fees will be deducted from the refunded amount.

4.4 One Deposit per Transaction ID

Bitprime accepts one deposit per transaction ID (TXID) per exchange order. If multiple deposits are associated with a single order, the quoted exchange rate may no longer be honored and the transaction may require manual intervention.

5. User Errors and Manual Processing Fee

In certain circumstances, manual technical intervention may be required to recover funds incorrectly sent for execution. The Company reserves the right to charge a manual processing fee of up to EUR 50 for such cases, including sending crypto-assets instead of fiat currency.

Situations requiring manual intervention may include:

  • sending funds via an incorrect blockchain network
  • sending a different asset than the one specified in the exchange order
  • omitting required identifiers such as Memo or Destination Tag
  • sending unsupported tokens or assets
  • depositing funds after the exchange order timeframe has expired

The manual processing fee will be deducted from the refunded amount in addition to any applicable blockchain network fees.

If the deposited amount is lower than the applicable processing fee, recovery may not be possible and the refund may not be processed.

Recovery operations may take up to twenty (20) business days.

6. Unsupported, Fake, or Imitation Tokens

Fake or imitation tokens refer to tokens that mimic legitimate projects but originate from unofficial or fraudulent smart contract addresses.

If such tokens are sent to operational addresses used for transaction routing:

  • The Company will not process them for execution.
  • The Company may not be able to recover or return such assets.

7. Market Volatility

Cryptocurrency markets are highly volatile. If significant market volatility occurs during transaction processing, Bitprime may:

  • complete the exchange at the current market rate, or
  • cancel the transaction and return the original fiat funds to the user's bank account

Bitprime cannot guarantee exchange rates in the event of extreme market movements.

The Company operates on an execution-only basis and assumes no long-term exposure to crypto-assets. If extreme volatility occurs during the transit execution phase, the Company may cancel the transaction to protect the user from unintended rates.

8. Security Incidents and Exploits

If a user attempts to exploit vulnerabilities, manipulate exchange mechanisms, or abuse system functionality, Bitprime reserves the right to:

  • cancel the transaction
  • restrict access to the Client Profile and API connectivity
  • initiate a return of the original fiat funds minus applicable fees

The Company does not retain funds beyond execution; however, in cases of suspected exploit, any funds currently in the transit phase will be immediately frozen for investigation.

9. Compliance Investigations and Law Enforcement

The Company operates a hybrid AML framework combining automated tools and internal compliance oversight, including manual review by the MLRO. In accordance with MiCA and TFR regulations, funds in transit may be temporarily frozen if required for compliance investigations.

As the Company does not maintain client balances, any "freezing" of funds refers strictly to the specific transaction currently being processed through the technical infrastructure.

10. Liquidity Provider Dependencies

Bitprime relies on third-party liquidity providers to execution of all Transactions.

If liquidity providers suspend support for specific assets, the Company will cancel the Order and refund the fiat funds without delay, as it does not maintain its own inventory of assets.

11. Refund Processing Time

Since the Company does not maintain user accounts with stored balances, any refund constitutes a return of funds currently held in the technical transit infrastructure.

Refunds are processed only in fiat currency to the original bank account. Processing times vary based on banking infrastructure and compliance reviews conducted under the Company's hybrid AML/CFT framework, including MLRO supervision.

In certain cases, refund processing may take up to 20 business days.

12. Force Majeure

Bitprime shall not be liable for delays or inability to execute transactions via the transit model caused by circumstances beyond its reasonable control, including but not limited to:

  • blockchain network failures
  • cyberattacks
  • regulatory actions
  • major blockchain network disruptions affecting the transit flow
  • regulatory actions or sanctions affecting the execution-only model
  • banking infrastructure disruptions
  • natural disasters or other force majeure events

13. Finality of Decisions

All decisions made by Bitprime regarding the cancellation of Orders and the return of funds in transit.

Users may contact Bitprime support regarding refund inquiries at: main@bitprime.io.

14. Policy Updates

Bitprime reserves the right to modify this Policy at any time. Updated versions become effective immediately upon publication on the Bitprime website.

Continued use of the Platform after updates constitutes acceptance of the Transit Model framework.

Returns and Refund Policy - BitPrime