The "Squid Game" cryptocurrency collapsed in a $ 3 million scam


The "Squid Game" cryptocurrency collapsed and its creators disappeared, earning $ 3,38 million.

squid game

A cryptocurrency inspired by the Squid Game series successfully attracted several investors, and its value soared to more than $ 2.800… before its creators redeem and disappear !!.

The cryptocurrency with the name $ SQUID, which had nothing to do with Netflix, was released in late October and managed to increase its value by up to 310.000 percent in just a few days. It has been touted as the supposed way to play an upcoming online game based on the South Korean series, in which people buried in debt are forced to take part in a deadly game.

However, at 5:40 a.m. Monday, the value of the currency plummeted to $ 0, its website disappeared and its account Twitter was blocked. This type of theft, commonly referred to as "rug pull" by cryptocurrency investors, occurs when the creators of a cryptocurrency quickly redeem their coins for real money, depleting the liquidity tank and of course disappearing.

Scammers may have made up to $ 3,38 million.

There were many indications from the beginning that cryptocurrency was a scam, but people ignored it, perhaps because of the promise of a game based on the popular Netflix show. His site was full of spelling and grammar errors and users could buy coins but were not allowed to sell them.

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This is not the first time a coin based on a current event has been issued and it will not be the last. Those interested in investing in new cryptocurrencies should be on the lookout for signs of fraud.


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