How it works

Let's fight cybercriminals together

Crowdsourced intelligence

The FinTelegram Whistleblower Platform (hereinafter also “FinTel Watchdog Platform”) is established as a crowdsourcing platform for financial intelligence with the goal to fight and expose cybercrime. Hence, our FinTel Watchdog Platform aggregates and curates financial intelligence for the purpose of investors protection and fund recovery.

WAT Rewards for contributions

We strive to motivate people to participate in the exposure of scams and fraud by rewarding them for their contributions with our Watchdog Token (“WAT”). By the end of each month the issued WATs will be bought back by our WAT Reward Pot against cryptocurrency or fiat (PayPal)

Watchdog Community to protect and care

We want to develop a FinTel Watchdog Community that acts as a counterpart to the ubiquitous cybercrime. Our community should also provide psychological support for people who have been deceived. We, our community and its members, are the antithesis to the constantly growing threat of cybercrimes.

Where does the money come from?

Our FinTel Watchdog Token (WAT) Reward Pot raises the funds money for its WAT reward payments from the following sources:

  1. Funds Recovery: in case of successful fund recovery, EFRI pays a certain percentage of the recovered funds to the Watchdog Reward Pot (“WRP”);
  2. Content Contribution: payments from FinTelegram News for each Watchdog related post;
  3. Third Parties: contributions from interested third parties including reward contributions for specific cases;
The Watchdog Reward Pot

The funds of the Watchdog Reward Pot (“WRP“) are used at the end of each month to buy back the issued WATs.

The Watchdog Token (WAT)

  1. The Watchdog Token (WAT) is the accounting unit of our whistleblower (watchdogs) platform.
  2. The WAT is used to reward contributions/activities on the platform.
  3. Currently, WAT is not a blockchain-based cryptocurrency but only a private accounting unit accepted on our platforms.
  4. The WAT cannot be purchased but only be earned with contributions to our platforms.
  5. The WAT is not yet transferable.
  6. The earned WAT‘s will be bought back by the WAT Reward Pot against cryptocurrencies or fiat (PayPal) on fixed monthly dates (see WAT Reward Table).
  7. It is planned that at the end of each month the earned WATs will be repurchased by the Watchdog Rewards Pot (“WRP”),
  8. the repurchase price for WATs at a given time depends on how much money is in the WRP.
  9. WAT prices will be published on our website

FinTelegram News Contribution

FinTelegram News will leverage the Watchdogs’ contributions in its report on FinTelegram News pays €50 into the WAT Reward Pot for every published report with content from the Watchdog platform. These contributions are published on FinTelegram News in the specially created category “Watchdog”. The price for the Content Contribution will be adjusted to developments and can be adjusted up and down.