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

Posted by msmash on Tuesday February 13, 2018 @07:30AM 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.

2 of 122 comments (clear)

Min score:

Reason:

Sort:

Dumbasses by registrations_suck · 2018-02-13 07:32 · Score: 5, Insightful

HA, HA!!
Re:PT Barnum Was Right by rudy_wayne · 2018-02-13 08:15 · Score: 5, Insightful

Funniest part of this is someone posted on Reddit a month ago that they had been digging into this company and found a lot of red flags.
A fool and his not-really-money are soon parted.