‘Squid Game’ Crypto Tanks , After Scammers Steal Millions From Investors.
Recently, a digital currency called SQUID was created based off Netflix's popular dystopian drama, 'Squid Game.' .
Recently, a digital currency called SQUID was created based off Netflix's popular dystopian drama, 'Squid Game.' .
It was being touted as a token that could be used for
a new online game inspired by the series.
It was being touted as a token that could be used for
a new online game inspired by the series.
It was being touted as a token that could be used for
a new online game inspired by the series.
According to CoinMarketCap, the cryptocurrency surged to $2,861 before plummeting to $0 on Nov. 1.
SQUID's creators pulled off
a scam known as a "rug pull,".
which means they cashed out all of their coins for
real money, causing the crypto's value to crash.
But before doing so, they stole an estimated $2.1 million from investors.
Prior to the rug pull, Gizmodo and CoinMarketCap warned investors that SQUID was likely a scam due to multiple red flags.
Prior to the rug pull, Gizmodo and CoinMarketCap warned investors that SQUID was likely a scam due to multiple red flags.
For instance, investors could only buy, not sell, SQUID, and the website was filled with spelling errors