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Newton has received multiple reports from users and has been in contact with regulatory bodies in Canada, who have identified Lightning or Lightning Shared Scooter Co. (LSSC) as a potential or likely scam or Ponzi Scheme. Other entity names associated with LSSC include: LSSC Canada Inc., LSSC Edmonton Ltd., LSSC Marketing Inc., and LSSC Expansion #1 Ltd.

LSSC promotes a 'click-to-earn' app and primarily uses USDC on the Polygon network to collect deposits from unsuspecting users, though it often leverages other networks and cryptocurrencies. It promises attractive daily profits; however, users, regulators, and the Better Business Bureau (BBB) are reporting that these returns are not delivered.

Newton has no affiliation with LSSC or any external scooter rental programs or crypto asset investment platforms.

Warnings for Newton Users

• Newton does not partner with any scooter rental programs, third-party digital asset investment programs, apps, or trading platforms.
• If you see Newton’s name associated with LSSC or any similar “click-to-earn” platforms, it has not been authorized by Newton and is likely a scam.
• Be wary of any investment opportunity that guarantees “easy daily profits,” particularly if it asks you to deposit funds using cryptocurrency, as these assets can not be recovered once sent.

What You Should Do

• If you have encountered LSSC or suspect that Newton’s name is being used fraudulently, contact Newton’s support team immediately at support@newton.co.
• Report any suspected scams to the Canadian Securities Administrators (CSA) and the BBB Scam Tracker.
• Always verify the legitimacy of any platform or app before transferring funds or connecting your crypto wallet.
• Ensure that you only withdraw crypto assets to a wallet that you own or control.

Your safety is our top priority, and we encourage you to remain vigilant and skeptical of platforms that sound too good to be true.

If you have any questions or suspect suspicious activity, please reach out to our support team.

Official References

Regulatory warnings:

Canadian securities administrators have issued an investor alert about LSSC: Canadian Securities Administrators Investor Alert on LSSC

BBB scam report: 
The Better Business Bureau has logged complaints from individuals who have encountered this scam: BBB Scam Tracker entry for Lightning Shared Scooter Co.

Detailed Summary of LSSC

LSSC presents itself as a scooter rental management platform where users can allegedly earn passive income by “renting” electric scooters through a mobile app. However, regulators and user reports have raised significant concerns about the legitimacy of this model. The platform requires users to deposit funds under the premise of “purchasing scooters” that are then purportedly rented out to generate daily returns. To date, there is no evidence that any scooters are actually deployed or rented in public locations, and the reported payouts appear to come from deposits made by new users rather than from genuine business activity.

*Summary sourced from Reddit.