Liti Capital launches ScamBusters to tackle crypto fraud
Liti Capital, the Switzerland-based litigation funder that raised capital by issuing investors blockchain-based tokens, has announced that it is launching ScamBusters, a new tool that allows its investors to vote for which crypto-focused cases the company should pursue next.
The company is committing between 5% and 10% of its yearly investment budget for this initiative.
“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.
The first twelve cases up for voting include a fake automated trading scam in which over 5,000 victims lost over $10 million and a bitcoin sports betting scam in which victims invested in a BTC sports trading company that combined crypto currency with sports betting, which turned out to be a Ponzi scheme promising between a 15% to 20% return per month.