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LoopX Startup Pulls ICO Exit Scam and Disappears with $4.5 Million (bleepingcomputer.com)

Posted by msmash on from the stranger-things dept.

Catalin Cimpanu, writing for BleepingComputer: A cryptocurrency startup named LoopX has pulled an exit scam after collecting around $4.5 million from users during an ICO (Initial Coin Offering) held in the recent weeks. The LoopX team disappeared out of the blue at the start of the week when it took down its website and deleted its Facebook, Telegram, and YouTube channels without any explanation. People who invested in the startup are now tracking funds move from account to account in a BitcoinTalk forum thread, and banding together in the hopes of filing a class action lawsuit.

9 of 122 comments (clear)

  1. Can I get a list of the people who invested? by xxxJonBoyxxx · · Score: 4, Funny

    >> People who invested in the startup are now tracking funds move from account to account in a BitcoinTalk forum thread, and banding together in the hopes of filing a class action lawsuit

    Would it be possible to get a list of the rubes who invested into this "initial coin offering"? (Because I have a few more things I'd like to sell them, starting with the Brooklyn Bridge.)

    1. Re:Can I get a list of the people who invested? by Jason+Levine · · Score: 4, Funny

      Don't call it the "Brooklyn Bridge." Call it the "Blockchain Bridge" and you'll get millions from investors.

      --
      My sci-fi novel, Ghost Thief, is now available from Amazon.com.
  2. Darn by 110010001000 · · Score: 2, Funny

    This is bad. I bought into the offering. Is it possible to get my money back? I want to get in the lawsuit too.

    1. Re:Darn by Anonymous Coward · · Score: 5, Funny

      I can help you with that. First, we need a retainer for a lawyer. You can pay with VillLoseX coins. There will be a ICO soon. Buy all you can. Then when we win a trillion dollars they will be paid out in Fakerium coins. You'll need to buy some of those to set up an account. As you know, sometimes people will take all the real money you used to buy fake money, so I highly suggest buying a substantial amount of WorthlessCoin in case one of your other accounts is compromised. Whatever you do, keep buying XCoins!

    2. Re:Darn by Immerman · · Score: 4, Funny

      > Adults knew it was a scam from the start.

      Well sure - but they were hoping the scam would last long enough for the early adopters to get in on the action too. It's getting so you can't even trust a pyramid scheme to make you a dishonest buck anymore.

      --
      --- Most topics have many sides worth arguing, allow me to take one opposite you.
  3. Re:Link to BitcoinTalk forum by Anonymous Coward · · Score: 3, Funny

    Here's a link to Jon's link.
    https://bitcointalk.org/index.php?topic=2521307.0

  4. Re:Link to BitcoinTalk forum by GrumpySteen · · Score: 3, Funny

    Here's a link to Anonymous Coward's link.
    https://slashdot.org/comments....

  5. Re:Good by jwhyche · · Score: 5, Funny

    Well what do you know. I was dead wrong. Someone is making money off this bitcoin thing.

    --
    I read at +2. If your post doesn't reach that level I will not see or respond to it.
  6. Re:PT Barnum Was Right by DontBeAMoran · · Score: 3, Funny

    A random Reddit user recommended that I go fuck myself. I took matters into my own hands and I've got to tell you - I enjoyed it!

    --
    #DeleteFacebook