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

The Future of Real Estate and Tourism: A Sneak Peek into the Launch Event of Lynkey’s First-Ever NFT Marketplace

The Future of Real Estate and Tourism: A Sneak Peek into the Launch Event of Lynkey’s First-Ever NFT Marketplace

Jul 05, 2022
Cannes’ New NFTs Mark A New Era For Digital Cities And A Metaverse Future

Cannes’ New NFTs Mark A New Era For Digital Cities And A Metaverse Future

Jul 04, 2022
Creating an Impenetrable Cybersecurity Layer: NordLayer’s Carlos Salas With Hilton Supra At The Latest Episode Of Dinis Guarda YouTube Podcast

Creating an Impenetrable Cybersecurity Layer: NordLayer’s Carlos Salas With Hilton Supra At The Latest Episode Of Dinis Guarda YouTube Podcast

Jul 01, 2022
New Global Tourism And Property NFT Marketplace By LynKey Aims To Innovate The $12 Trillion Property And Leisure Industries

New Global Tourism And Property NFT Marketplace By LynKey Aims To Innovate The $12 Trillion Property And Leisure Industries

Jul 01, 2022
Ownership And Decentralisation: Enhancing the Essence of Web 3.0 Ecosystem With Metaverse Progression

Ownership And Decentralisation: Enhancing the Essence of Web 3.0 Ecosystem With Metaverse Progression

Jun 27, 2022
Unleashing The Power Of NFTs: LynKey Launches Property And Tourism Marketplace For Its Global Community

Unleashing The Power Of NFTs: LynKey Launches Property And Tourism Marketplace For Its Global Community

Jun 27, 2022
The Metaverse Revolution: 10 Industries That Will Change – A Research Video By Dinis Guarda

The Metaverse Revolution: 10 Industries That Will Change – A Research Video By Dinis Guarda

Jun 24, 2022
Carolina Conforti, Co-Founder Of The Art Talks, On Education And Unification For An Evolved Digital Art World – On Dinis Guarda YouTube Podcast

Carolina Conforti, Co-Founder Of The Art Talks, On Education And Unification For An Evolved Digital Art World – On Dinis Guarda YouTube Podcast

Jun 21, 2022
Metaverse ABC — Bridging The Physical And Digital Twin Avatar World Of The Metaverse

Metaverse ABC — Bridging The Physical And Digital Twin Avatar World Of The Metaverse

Jun 20, 2022
Top 10 Smart Cities Worldwide

Top 10 Smart Cities Worldwide

Jun 17, 2022