The "Squid Game" cryptocurrency collapsed and its creators disappeared, earning $ 3,38 million.
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, launched in late October and managed to increase its value by as much as 310.000 percent in just a few days. It was marketed as the supposed way to play an upcoming on-line game based on the South Korean series in which people buried in debt are forced to participate in a deadly game.
However, at 5:40 a.m. Monday, the coin's value plummeted to $0, its website disappeared, and the account of 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 signs from the beginning that the cryptocurrency was a scam, but people ignored them, perhaps because of the promise of a game based on the popular Netflix show. His site was riddled with spelling and grammar mistakes Mistakes and, users could buy coins but were not allowed to sell them.
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.
