Risk Warning

Effective 15 July 2026

Read this before you swap

Using crypto assets carries significant risk. You can lose all of the value of what you swap. Only use funds you can afford to lose. This page is not financial, investment, legal or tax advice.

Risks to understand

• Price changes: prices are volatile and can move between the quote and the completed swap, so the amount you receive may differ from the estimate.
• Irreversible transactions: blockchain transactions generally cannot be cancelled or reversed.
• Wrong address, asset or network: funds sent to the wrong address, in the wrong asset, on the wrong network, or in the wrong amount may be lost for good. We cannot recover them.
• No custody by HorseRouter: we do not hold your funds, so we cannot freeze, return or recover them. Partners execute and settle swaps, and refunds are decided by the Partner.
• Partner and technology risk: Partners, smart contracts, bridges and blockchain networks can fail, be delayed, be hacked, or stop working.
• Delays and holds: a swap can be delayed or held for compliance checks.
• No address screening by us: we do not screen receiving addresses or sending wallets. You are responsible for the address you use and for the source of your funds.
• Regulatory change: laws about crypto assets differ between countries and change quickly. A service or asset can become restricted.
• Stocks and tokenized assets: provided through Partners, may be regulated financial instruments, may have low liquidity, and may not give you the rights of owning the underlying asset.
• Taxes: swaps may be taxable events. You are responsible for your own taxes.
• AI agents: if an agent acts for you, check what it prepared before sending funds.
• Scams: only use the official HorseRouter website, never share your private keys or seed phrase, and be careful with links sent to you.

Your responsibility

You are responsible for deciding whether to swap and for following the laws that apply to you. See our Terms of Use for the full terms.