MAGOP CODE MAGOP/FP/REQ/25OCT2018A
PRODUCT TYPE Bitcoin (BTC) cryptocurrency
DESCRIPTION WANTED: Discounted Bitcoins
PRICE Volume quantity discount
TOTAL CONTRACT AMOUNT As much as possible
TRANCHES As agreed; ideally beginning with small tranches, between 5-200 BTC and working up to the allowed daily limits afforded by the Seller's receiving bank. In rare instances, a higher first tranche can be requested following the seller's party providing legitimate and strong proof of coin to the Escrow Attorney
COMMISSIONS As agreed
ENGAGEMENT Attorney to attorney or single escrow as agreed; with proper preparation and process, TTM's can be allowed in the office of the Escrow Attorney
SETTLEMENT Each tranche is to be the day that the coins come under the custody of the Escrow Attorney for the specified tranche.
DELIVERY Coins can be delivered to the Ledger or Trezor wallet address provided by the Escrow Attorney; in rare instances and with increased escrow fee, proper security measures can be taken to allow the possibility of a core-to-core transaction
PAYMENT MT103, domestic wire, ledger-to-ledger or SBLC
LOCATION OF BUYER Miami, Florida
BUYER BANK Citibank, Chase, Bank of America, Wells Fargo, BankUnited, BB&T, PNC
PROCEDURE
  1. Seller works with the Trade Desk and/or it's designated representatives to reach consensus on the terms of the transaction.
  2. Seller provides KYC/AML to the Escrow Attorney via the Trade desk. In the event that the Seller does not wish to disclose the information to the trade desk, arrangements can be made for information can be disclosed to the Escrow Attorney directly via a coded-phrase issued by the trade desk to the seller and/or their representatives. In the instance that the fully complete Escrow Documentation is not delivered to the trade desk, a redacted version should be provided to the trade desk.
  3. Seller will provide adequate proof of coin to the Escrow Attorney in one of the following ways. Either a Satoshi test will be conducted originating from a wallet which contains within it the specified and agreed of BTC for the first tranche or the Seller may--if they choose--sell one BTC to Coinbase via the Coinbase wallet application and deliver to either the Escrow service or the trade desk the transaction receipt. Coinbase Wallet must contain within it enough left-over BTC for the first tranche. In the event that neither standard proof of coin can be issued, seller may request from the trade desk to have one BTC sent to a wallet which they control and contains the requisite volume of digital assets as well as an address to which the BTC would be returned in place of a standard Satoshi test.
  4. Buyer will move funds into Escrow Account.
  5. Escrow will issue Proof of Funds to the Seller, their representative, their attorney, or their banker.
  6. Coins will be delivered to Escrow Attorney, directly,
  7. Escrow Attorney will release the specified funds to the seller's account.
  8. Upon those funds having cleared, the Escrow Attorney will then release the coins to the buyer.
  9. Additional tranches (if any) continue as agreed.
ESCROW EXCERPT

2.Escrow
2.1.The Principal hereby engages Escrow Agent to provide the services described in this Agreement generally consisting
of holding the Escrowed Property in escrow and disbursing the Escrowed Property. The Escrowed Property
consists of funds in the amount as set forth in further detail on the Order Request Form attached hereto as Exhibit “A”
by this reference made a part hereof. Principal represents to the Escrow Agent that the Escrowed Property is being
used to (a) purchase blockchain cryptocurrency as shown on the Order Request Form (the “Cryptocurrency”) (b) pay
the Principal’s agent as shown on the Order Request form (Principal acknowledges and agrees the agent represents
Principal in this transaction and authorizes such agent to deal with Escrow Agent) and (c) pay the Escrow Agent’s Fee
(as defined below). Escrow Agent represents that it has entered into an Escrow Agreement with the seller of the Cryptocurrency
and will hold the Cryptocurrency in escrow and disburse the Cryptocurrency to Principal in accordance
with that Escrow Agreement. Escrow Agent shall provide the Principal with written notice once the seller’s Cryptocurrency
has been received in escrow. For security purposes, the Cryptocurrency shall only be transferred to a hardware
wallet (e.g., Ledger Nano or Trezor) designated by the Principal (the “Wallet”). For security purposes, Escrow Agent
shall not transfer any Cryptocurrency to an online wallet. The Principal shall also provide any and all information requested
by the Escrow Agent with respect to the Wallet necessary to transfer the Cryptocurrency. Prior to any transfer
of Cryptocurrency to the Wallet, the Escrow Agent shall perform a test run of .0005 BTC to ensure that the Principal
has received the Cryptocurrency. The Principal must advise that it has received the test run, following which Principal
acknowledges that it is ready to engage in the transaction and receive of the balance of the contracted Cryptocurrency.

2.2.Unless otherwise provided for in this Escrow Agreement or any addendum hereto, Escrow Agent shall disburse
the Escrowed Property without interest or other accumulation in value. Escrow Agent shall not be deemed to have
knowledge of any matter or thing unless and until Escrow Agent has actually received written notice of such matter
or thing and Escrow Agent shall not be charged with any constructive notice whatsoever. In the event instructions
from Principal would require Escrow Agent to expend any monies or to incur any cost, Escrow Agent shall be entitled
to refrain from taking any action until it receives payment for such costs. Principal acknowledges and agrees that
nothing in this Escrow Agreement shall prohibit Escrow Agent from (i) serving in a similar capacity on behalf of
others or (ii) acting in the capacity of attorneys for one or more Principals in connection with any matter. The Principal
is required to complete the information included in Exhibit “B” attached hereto and by this reference made a
part hereof. By executing and delivering this Agreement to Escrow Agent, the Principal (a) represents and warrants
to Escrow Agent that all information and data included in or with such this Agreement is true, correct and complete,
and (b) all representations, warranties, affirmations, covenants, agreements and certifications to the Escrow Agent
with regard to the Escrowed Property, whether in writing or otherwise, are true and correct in all material respects.
3.Funding of Escrow. Upon execution of this Agreement, Principal shall wire transfer the Escrowed Property to the Escrow
Agent’s bank account based upon the wire instructions attached hereto as Exhibit “C” and by this reference made a
part hereof. Upon initiation of the wire transfer, the Principal shall provide the Escrow Agent with written official bank wire
confirmation receipt thereof. The Principal acknowledges and agrees that (a) it may take twenty four (24) to forty eight
(48) hours or more for the Escrowed Property to be received into the Escrow Agent’s bank account and (b) the Escrow
Agent shall have no liability to Principal for any such delays or any technical and/or internet failures. Upon receipt of the
Escrowed Property, the Escrow Agent shall provide the Principal with written confirmation thereof. Notwithstanding anything
herein to the contrary, the Escrow Agent may, in its sole discretion, refrain from accepting the Escrowed Property if
Escrow Agent reasonably believes that a security breach or fraudulent activity or technical malfunction may have occurred,
or to avoid any threat thereof or the Escrow Agent’s bank refuses to accept the Escrowed Property ; provided, however,
that Escrow Agent shall not be liable for suspending or refraining from performing the services pursuant to this sentence.
4.Release of Escrowed Property. Escrow Agent agrees to release the Escrowed Property in accordance with the
terms and conditions set forth in this Agreement. Principal hereby irrevocably authorizes the Escrow Agent to release
the Escrowed Property immediately upon receipt of the Cryptocurrency from the seller. Escrow Agent will notify the
Principal as soon as the Cryptocurrency is released from escrow and provide a screen shot that the transaction has been
completed. The Principal acknowledges and agrees that (i) once the Cryptocurrency is released from escrow, it may
take between five (5) minutes to forty eight (48) hours or more for the Cryptocurrency to be entered into the Principal’s
Wallet and (ii) the Escrow Agent shall have no responsibility or liability to the Principal for any such delays or any technical
and/or internet failures. In the event Escrow Agent shall be uncertain as to its duties or rights hereunder or shall
receive instructions, claims or demands from any third persons with respect to the Escrowed Property or any other sums
or things which may be held hereunder, which, in its sole opinion, are in conflict with any provision of this Escrow
Agreement, Escrow Agent shall be entitled to refrain from taking any action until it shall be directed otherwise in writing
by the Principal and said third persons, if any, or by a final order or judgment of a court of competent jurisdiction.

NOTES
  • The referenced trade desk represents a large volume of both private and institutional buyers both inside and outside of the cryptocurrency sphere.
  • Prior to seller having on-boarded to the Escrow or providing proof of coin, the Buyer has provided escrow POF--in every instance--already done so, so as not to waste the Seller's time or resources.
  • The trade desk will not issue any paperwork, until Seller evidences ownership of BTC in Seller's wallet.
  • The trade desk has some flexibility in regards to the procedures listed above.
MAGOP RELATIONSHIP:  Magister Operis speaks directly to four of the executives of the trade desk although there is one other party that has to be paid as intermediary along with Magister Operis also.

 

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