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.
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