Delete Your Account
Backpack EU is committed to safeguarding your personal data and retaining it only as long as law and regulation require. Because we operate in a regulated financial environment, we cannot delete a verified account or its historical records until the statutory retention period has elapsed (typically five to seven years, depending on jurisdiction). The sections below explain why and outline the steps you can take to wind down your relationship with us while your data remains in mandatory retention.
Who this guide is for
Customers with a Backpack EU account (web or mobile)
Customer Identity Verification and Data Retention Policy
As the data controller, we are legally required under Cypriot law—specifically The Prevention and Suppression of Money Laundering and Terrorist Financing Law—to verify the identity of our customers. This obligation is outlined in Articles 60 and 61 of the law.
In addition, Article 68 of the same law mandates that we retain the relevant identity verification data for a period of five (5) years.
The documents you provide during the registration process are stored solely for the purpose of fulfilling this legal obligation, in accordance with Article 6(1)(c) of the General Data Protection Regulation (GDPR), which allows for the processing of personal data when necessary for compliance with a legal obligation.
Once the five-year retention period has expired, your data will be automatically deleted—no action will be required from you.
In addition to our obligations under anti-money laundering laws, we are also subject to other legal requirements, such as statutory retention periods under applicable tax laws. Documents retained for these purposes, including bank and accounting records, may contain personal data.
Any personal data we are legally required to retain will be stored exclusively for the duration of the relevant statutory obligations and will not be used for any other purposes. Once these obligations have been fulfilled, the data will be deleted in accordance with applicable legal provisions.
We may also retain this communication, including any personal data it contains, for a period of three (3) years, solely for evidentiary purposes. This retention is based on our legal obligation under Article 6(1)(c) of the GDPR, in conjunction with Articles 5(2) and 7(1).
To clarify:
Personal data required under tax or financial legislation is kept only for as long as legally necessary.
Such data is not used for marketing, profiling, or any unrelated purposes.
After the relevant retention period expires (including the 3-year evidentiary period), the data will be automatically deleted, with no action required from you.
Your Right to Erasure (Article 17 GDPR)
Under Article 17 of the GDPR, you have the right to request the erasure of your personal data. However, this right is not absolute. Article 17(1)(e) provides an exception where data must be retained to comply with a legal obligation under Union or Member State law.
Why we cannot delete your account
Financial‑services regulations—particularly Know‑Your‑Customer (KYC) and Anti‑Money‑Laundering (AML) rules—require regulated exchanges to preserve certain records for prescribed periods. These obligations apply to EU Backpack Exchange.
Data we must retain
Account identifiers (email, username)
KYC / AML record‑keeping (typically 5–7 years)
Identity documentation
Audit trail, fraud prevention (typically 5–7 years)
Trade, funding & withdrawal history
Financial‑record retention requirements (typically 5–7 years)
Linked on‑chain wallet addresses
Permanent part of the transaction record
Support correspondence
Security verification and legal traceability (typically 5–7 years)
Once the statutory window closes—usually five to seven years, depending on jurisdiction—we securely erase or anonymise records wherever law permits.
Actions available to you
Withdraw assets and close positions — transfer funds away and settle any open trades.
Cease using the service — sign out, uninstall the application, and clear browser data.
Opt out of marketing messages — click “unsubscribe” in any Backpack email.
Request a review — if you believe special circumstances apply, contact us; we assess each request individually and may deactivate certain functionality on a case‑by‑case basis.
Your account will remain inactive, and all retained data will continue to be stored securely with restricted access.
How to Contact Us
If you have any concerns about your data or wish to inquire further about account closure or deactivation options, please reach out to us via the following channels:
Email: [email protected]
All requests are reviewed individually and carried out in accordance with data‑protection laws and our internal compliance standards. Your information is protected, held only for the legally required period (generally 5–7 years), and never processed beyond legitimate business or regulatory purposes. To learn more about your rights—including access, restriction, or objection—please see our Privacy Policy.
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