Cryptocurrency LoopX disappears

Ahh yes, yet another cryptocurrency story. 

Not surprisingly, this is another one of the bad side of the news with a new startup called LoopX disappearing after raising $4.5 million in it's initial coin offering. This isn't the first time that cryptocurrency buyers have been scammed and I'm going to go out on a limb and say that it's not the last.

TNW has the full story.

Another day, another exit scam: an emerging cryptocurrency startup more commonly known as LoopX has suddenly vanished out of thin air along with millions worth of its investors’ savings.

The sketchy investment platform, which promised to earn backers’ money with its proprietary trading algorithm, has abruptly gone dark after raising $4.5 million in a series of initial coin offerings (ICO). The company has since also pulled its website and deleted its social media fingerprint, including Facebook, Twitter, YouTube, and Telegram accounts.