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News

Liti Capital Launches Scambusters to tackle Crypto Fraud

Posted on September 23, 2021
Written By  ztudium

The litigation funding provider is offering a 250,000 wLITI token reward for new crypto scam cases  

Geneva, Switzerland - 23 September 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.  

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. 

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Liti Capital SA (“Liti Capital”) is a litigation finance company registered in Switzerland under number CHE-379.790.214. The reader should be aware that Liti Capital obtained a non-action letter from the Swiss Financial regulator (FINMA). All information contained on this website is intended for general information, and should not be construed as investment advice. The information on this website is not intended to provide a sufficient basis on which to make an investment decision. It does not constitute a recommendation or take into account the particular investment objectives, financial conditions, or needs of individual investors. The information is not an offer to sell or a solicitation of an indication of interest to purchase any security of Liti Capital, or to make any investment. An investment decision should be made solely on the basis of offering documentation that Liti Capital may provide to you separately, which you should review in detail with your professional advisers. “US Persons” (as defined for purposes of US securities laws) will not be allowed to purchase any securities that may be issued by Liti Capital unless they satisfy the requirements of US securities laws, including qualifying as an accredited investor. There can be no guarantee that any security issued by Liti Capital will be profitable and investors may lose all of the capital they invest in any such securities. While Liti Capital attempts to ensure that the information contained on this website is accurate and complete, no representation or warranty, express or implied, is made as to the accuracy, completeness or reasonableness of the information contained on this website. Liti Capital assumes no responsibility for such errors and omissions, and reserves the right to make changes to content and other information on the website at any time without notice.