Another promising startup was a Scam and threw investors for $4.5 million

Another promising startup was a Scam and threw investors for $4.5 million

Every day, the news about the latest fraud! So the other day it became clear that cryptocurrency startup LoopX was none other than the exit Scam.

Investment platform LoopX, which promised users a fabulous profit at the expense of his patented algorithm prop-trading, simply vanished from the Internet to cover his tracks. Disappeared not only the company’s official website, but all the social media accounts was not available.

All that remains of LoopX, it is an open topic on BitcoinTalk and a couple of references to resources that describe ICO.

According to a cached version of the now-defunct website, in ICO LoopX investors have invested a total of 276 446 2 bitcoin and Ethereum.

“After several months of development and successful testing, it is with great confidence I can say that the algorithm works — says a representative of the marketing Department LoopX. — This software will allow us to make much more money online than we might earn in real life.»

“Our software is capable of handling more than 10,000 transactions per second and do calculations with more than 100 crypto-currencies immediately,” he continued. “We are constantly looking for opportunities for a 10% increase in profits, which will be paid to our clients on a weekly basis. It seems impossible in a normal financial sector, but it is a reality in the cryptocurrency world.”

In a road map published by the representative of LoopX on BitcoinTalk, says the company plans to launch a credit investment platform in February.

Approach LoopX software for trading is not something new. The infamous skam-project BitConnect used such tactics, deceiving naive investors, and they supported the fraudulent scheme for several months, until she finally collapsed in January this year.

“Finally, the ordinary investor has an opportunity to become part of the revolution and to finally be free, financially free” broadcast representatives LoopX from the pages of your whitepaper. “Our main priority is to give you the opportunity to relax while we do your job. You will just have to see how increasing your capital.”

Not everyone believed such strong assurances, and a month ago on Reddit there was a note that LoopX is very similar to a Scam project. Unfortunately, not everyone listened to what was said.

With the beginning of 2018, this is the fifth case of an exit Scam — when the cryptocurrency firm walks away with the money.

Earlier in January, a longtime suspect in the use of Ponzi schemes – platform for BitConnect has announced its closure. Then the Lithuanian startup Prodeum disappeared with the money of their investors, leaving the memory a dirty word.

Most recently, the controversial platform of cryptocurrency investment Davor ceased operations with credit packs after receiving the relevant order from the Council for the securities of the state of Texas. Also there is speculation that the robbery last week, the Italian stock exchange BitGrail not a victim, but also the exit Scam that stole its customers $195 million.

All this suggests the need to conduct their own research before investing in a particular project. Already written enough information that will help you understand the Scam in front of you or not.

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