Liti Capital Launches Scambusters To Tackle Crypto Fraud

Liti Capital Launches Scambusters To Tackle Crypto Fraud
Liti Capital Launches Scambusters To Tackle Crypto Fraud

Categories :

By citiesabc news - Sep 23, 2021

Liti Capital SA, the Swiss-based litigation funding provider disrupting private equity investing with blockchain technology, is launching Scambusters, a revolutionary new tool that allows users to vote for which crypto-focused cases the company should pursue next. The litigation funding provider is offering a 250,000 wLITI token reward for new crypto scam cases.  

Scambusters takes place from 23 Sep to 14 Oct

Fraud within cryptocurrency and blockchain is rife. This year will be a record for investment fraud: 14,079 investment scams were reported to the FTC in the first quarter of 2021, and victims lost $215 million in this quarter alone. Liti Capital is bringing its expertise in picking, funding and winning court cases and inviting consumers to vote on which scams it should pursue in court next.

“The idea that scammers can freely operate in the crypto sphere without facing the consequences of their actions must end to bring trust and change the perception blockchain and crypto projects have in our society”, says Andy Christen, CVO/COO at Liti Capital.

Liti Capital commits to allocate between 5% and 10% of its yearly investment budget to finance cases that have affected its community members. Any LITI or wLITI token holder can report a purported fraud to the company.

Scambusters is a community voting event to select crypto scam cases going to be sued by Liti Capital. LITI and wLITI token holders can use their tokens without spending them to vote for the case(s) they think have the most merit. The more tokens they have the more voting power they can exercise. Voters of the winning case will share an award up to 250,000 wLITI, distributed pro-rata to their votes.

Once members of the community have submitted cases on the ScamBusters website, Liti Capital instructs its team of legal experts based in 140 countries across the world to explore details of the case.

A selection of cases are then presented back to community members, with the case collecting the highest number of votes being added to Liti Capital’s portfolio. Community voting begins on Sept 23, 2021, with the winning case announced on October 15, 2021.

“If cryptocurrency is going to become the defacto way people take part in the Web3 world, trust, regulation and a robust legal system are all parts of that puzzle,” says Jonas Rey, CEO at Liti Capital.

Interview David Kay, Executive Chairman at Liti Capital - Democratising Private Equity And Litigation Finance: 

Tags

This Is How AI, ML And Robots Are Changing The Future Of Arts

This Is How AI, ML And Robots Are Changing The Future Of Arts

Dec 05, 2022
How The NFT Revolution Will Change The Future Of Arts

How The NFT Revolution Will Change The Future Of Arts

Dec 03, 2022
The Future of… Arts Event Brings Together Artists, Authors And Promoters To Discuss The Impact of Digital 360, NFTs, Metaverse & AI

The Future of… Arts Event Brings Together Artists, Authors And Promoters To Discuss The Impact of Digital 360, NFTs, Metaverse & AI

Dec 01, 2022
Concordium’s Layer Of Trust And Self-Sovereign Identity: Dinis Guarda Interviews Kåre Kjelstrøm, CTO and CPO of Concordium Group

Concordium’s Layer Of Trust And Self-Sovereign Identity: Dinis Guarda Interviews Kåre Kjelstrøm, CTO and CPO of Concordium Group

Dec 01, 2022
‘Age of Invisible Machine Is Another Significant Step Towards Our Hyper-Automation Efforts’: Dinis Guarda On BooksABC

‘Age of Invisible Machine Is Another Significant Step Towards Our Hyper-Automation Efforts’: Dinis Guarda On BooksABC

Nov 29, 2022

How Debt Recovery Businesses Use Data

Nov 28, 2022

Divorce Statistics for London: How Have Things Changed?

Nov 28, 2022
Initiating A Dialogue To Create New Investment Opportunities In India And The UK: Indo-European Business Forum Organises Global Business Meeting

Initiating A Dialogue To Create New Investment Opportunities In India And The UK: Indo-European Business Forum Organises Global Business Meeting

Nov 25, 2022
The Benefits Of Digital Transformation For Businesses

The Benefits Of Digital Transformation For Businesses

Nov 23, 2022
Dinis Guarda Reviews ‘Understanding The Metaverse’ By Nick Rosa In The Latest Episode Of BooksABC

Dinis Guarda Reviews ‘Understanding The Metaverse’ By Nick Rosa In The Latest Episode Of BooksABC

Nov 23, 2022