LoopX, a cryptocurrency startup that obtained millions of dollars through several initial coin offerings (ICOs), has disappeared with the funds in what appears to be the latest exit scam. LoopX, which promised “the most advanced trading-algorithm in the cryptocurrency market,” has suddenly vanished, shutting down its website and deleting its social media fingerprint. According to a cached version of the LoopX website, the project obtained 276.21 BTC and 2,446.70 ETH throughout a series of token sales, amounting to approximately US$4.5 million, but according to many, investors actually pledged more than US$10 million worth of cryptocurrencies. LoopX billed itself as a enterprise that is developing a “latest kind of trading software” that promises “guaranteed profits every week.” As of February 10, 2018, its website read: “After testing our algorithm thoroughly over half a year with great profits continuously every month, we can now finally bring all this advantages of our LoopX – Trading Software to the public.” The startup claimed its software “facilitated more than 10,000 transactions per second in high yield trading platform coins with significant cryptocurrencies like Bitcoin and Ethereum on trading platform platforms.” It promised investors up to 48% return within 30 days simply by holding so-called LPX crypto tokens in their wallet. The news comes a few months after Confido, the startup that obtained more than US$374,000 in an ICO, reportedly disappeared with investors’ money. Confido promised to bring a recent decentralized trustless payment solution for online shopping. Another recent exit scam is Prodeum, a cryptocurrency startup that pledged to revolutionize the agriculture industry and put fruit on the blockchain. Prodeum has vanished from the web after raising a grand total of US$11 from investors in a crowdsale, leaving behind only a website that stated “penis.”