3.5 Users from the following countries and their territories (Restricted Countries) may experience limitations when depositing and playing real money games: Afghanistan, Australia, Austria, Aruba, Bonaire, Curacao, Comoros, Democratic Peoples Republic of Korea, France, French Guiana, French Polynesia, Germany, Guadeloupe, Iran, Islamic Republic of Kazakhstan, Israel, Martinique, Mayotte, Myanmar, Netherlands, New Caledonia, Reunion, Saba, Saint Barthelemy, Saint Pierre and Miquelon, Saint-Martin, Spain, New Caledonia, Singapore, Sint Eustatius, United Kingdom, United States, Wallis and Futuna Islands, Vietnam. The Company does not actively manage these territories and may not always be able to process withdrawals or refunds for players in these jurisdictions.
They don't say here absolutely nothing regarding confiscating the money of people from these territories. Unbelieve.
They don't say in any part on their T&C that they can confiscate the money of anyone.
I am not sure if you read the last part of the terms you just quoted
Here:
The Company does not actively manage these territories and may not always be able to process withdrawals or refunds for players in these jurisdictions.
Now I do not support what Razed.com did but as a user, you should take more time to take a look at the Terms of Service before you make any deposit. The fact that Spain users are not allowed, but then you went ahead to sign up with them is not good at all.