According to an early version of the LoopX website, which is now inactive, at the beginning of this year the startup collected 276 BTC and 2446 ETH during 5 rounds of token sales, which is equal to $4.5 million. After the ICO, all information about LoopX disappeared from all possible sources.
All LoopX accounts on social networks have been deleted, and the only mention of it is only in the BitcoinTalk thread, dated December last year. In messages, the company stated that they plan to launch LoopX in February 2018.
During the ICO, the LoopX website announced the development of a new trading algorithm that allows for maximum online earnings. The founders of the startup promised investors the ability to process more than 10,000 transactions per second and calculate more than 100 types of digital currencies.
The scheme is painfully familiar: the BitConnect scam project also deceived investors who continued to invest assets in it until its collapse at the beginning of this year.
This is already the fifth scam this year. Previously, such tricks were performed by the Lithuanian Prodeum, the American Davor, and the BitGrail crypto exchange, which declared bankruptcy after being hacked.
It is worth noting that particularly attentive users have repeatedly written on Reddit that the startup LoopX is another ordinary scam project. Unfortunately, investors chose not to pay attention to the warnings of users.
Subscribe to our channel in Telegram
You May Also Like
South Korean regulator will decide the fate of the ICO in November
A South Korean official said at a meeting of the National Assembly that the government will announce its official position on the legalization of ICOs in November this year after the results of a survey held in October are processed.
Citizenship in exchange for investment: how to get a European passport for cryptocurrency
The Hungarian company Ajax Software LLC announced the launch of a cryptocurrency for the investment migration industry. The coin was called Citizenship or “Citizenship Coin”, or CTZ.
