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The First Insurance for Individual Crypto Investors against Scams

December 9th, 2022 at 1:00 pm UTC · 3 min read

Over the last 4 years, the top issue across all crypto-asset complaints was “Fraud or scam”. The value of these scams is increasing all the time, soaring to $14bn in 2021. Scams increase during a bear market especially due to the financial vulnerability of the consumers.

HealthPotion wants to combat these scams with the first end to end insurance product for individual investors against scams in crypto.

Individuals Can Get Reimbursed after a Scam

For the first time in crypto, individuals will be able to get reimbursed after a scam up to $1,000 USDC or 1 Eth. Examples of the scams covered by this policy are phishing, wallet drainers or malicious smart contracts. After falling victim to one of these scams, individuals will be able to submit a claim to get their assets back. HealthPotion are currently offering special whitelist pricing from now until the 16th of December.

The First Insurance for Individual Crypto Investors against Scams

The insurance policy, created by HealthPotion, can be purchased on a short, medium and long-term basis. The policy is held in the individuals wallet, acts as proof of insurance and allows the holder to submit a claim.

HealthPotion are conscious that they will become a target for scammers. To insulate their business from insurance fraud, they are implementing a novel claims process using blockchain investigation.

Roadmap

HealthPotion are building for the long term. There will be an initial early bird launch on December 16th before a public launch on December 28th. The early bird will be offered at a significant discount and provide access to a future token launch in 2023. They have confirmed that 100% of mint revenue collected will go into their treasury.

Their plan is to build an end to end insurance platform for individuals in web3. To achieve this, they plan to acquire venture capital investment in early 2023 and to continue to expand their capital pool to insure more risk over time.

Partners

To build their their business for the long-term, HealthPotion are partnering with a number of players in this space:

  • Cryptegridy Blockchain Security are a blockchain investigation firm run by Darren Jackson. Based in the UK, they maintain high ethical and moral standards when it comes to everything they do. Privacy is something they take very seriously and will never compromise on. Cryptegridy works closely with UK law enforcement using the same tools to prevent and protect. Cryptegridy are providing their expertise in building out a robust claims process for HealthPotion.
  • Pocket Universe is a security tool that protects you from fraudulent transactions. They detect these scams using transaction simulations, which assesses the outcome of your transactions before you sign them. The tool pops up to display scam warnings before the malicious transactions reach your crypto wallet. Pocket Universe will support HealthPotion as a technology partner, providing security to HealthPotion’s customers.

Team

The team behind HealthPotion is Nessan Harpur and Simon Dunkelman. Nessan has started several companies, has a background in cloud security consulting and has worked with the victims of cybercrime. Nessan has a degree in engineering from Trinity College Dublin and a masters in Entrepreneurship from the University of Notre Dame.

Simon Dunkelman is the CTO, Simon has previously created a Fintech SaaS solution, Simon is a full stack web3 engineer and has experience working with smart contracts. Simon has a masters in Risk Management and Financial Engineering from Imperial College London.

Get on the whitelist while you can and insure yourself with HealthPotion today!!!

To learn more about HealthPotion: Whitelist, Litepaper, Website, Twitter.

Disclaimer: Coinspeaker is not responsible for the trustworthiness, quality, accuracy of any materials on this page. We recommend you conduct research on your own before taking any decisions related to the products/companies presented in this article. Coinspeaker is not liable for any loss that can be caused due to your use of any services or goods presented in the press release.

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