Loss in the millions

Crypto fraud: Styrian fled to Thailand

Two Styrians are at the center of a million-dollar cryptocurrency scam. There are hundreds of victims. The men from Graz and four other accomplices are in Linz correctional facility. One of the locals wanted to flee to Thailand before his arrest, but then changed his mind. Not the only highlight in the case.

It is about a scam involving a cryptocurrency with several hundred victims and a total loss amount of almost six million euros. Specifically, the six accused, aged 29, 34, 36, 38 and 40, allegedly pretended to have introduced a new cryptocurrency called "LoopX". They raised money for it between December 2017 and February 2018.