Cryptocurrency is a new thing to most of us, and the promising investing options that show up everywhere seem like a fail-proof business venture, but the fact is, investing has its ups and downs. And scams like this are no exception.
LoopX was promoted as a innovative (I mean, everything that has crypto involved must be something impressive, right? Wrong.) trading platform, based on an algorithm that they described as:
“Our software handles over 10,000 trades per second and calculates over 100 currencies at a time,” it continued. “Always looking for those opportunities to make profits bigger then 10%, which will payed out to our members on a weekly basis.”
After hitting their February target on their development map, they went dark, deleting all their traces from across the web, the only surviving mentions about this startup being a BitcoinTalk thread.
As you can notice, their February target is called "Lending". Maybe it was something to warn us about their evil intentions, meaning that they just wanted to "lend" the money invested which come close to the figure of $4.5 million US dollars made up by 276 Bitcoin and 2,446 Ethereum from naive or eager investors.
Watch out for this kind of scams folks. This is not the first and will not be the last
