Creators of Squid Game Cryptocurrency Shut Down The Project and Steal $3.38m

2021-11-03 19:26:35
Squid Game Crypto –  Too Good To be True

The creators of Squid Game inspired $SQUID cryptocurrency steal $3.38m from investors and disappear from the face of the earth. Specifically, they used the huge popularity of the South Korean Netflix series Squid Game to pump the price of the digital asset by 83.000% in just a matter of days.

Moreover, the reason for creating the $SQUID cryptocurrency was supposed to serve as a payment method in a game inspired by the Squid Game series.  As a result, the price of the $SQUID went up to a mind-blowing $2.800 at one point.

That is before the creators of this Squid Game based cryptocurrency decided to cash out and steal nearly $3.38m.

Consequently, as of Monday, the value of the $SQUID digital asset crashed down to $0. In addition, their Twitter account is blocked, and their official website is no longer available.

According to the experts, the entire website showed numerous signs of irregularities and discrepancies. For example, grammatical errors and misspellings are some of the most obvious.

Another major sign is the fact that buying crypto was allowed while selling the assets not.

And probably the biggest reg flag of them all, Netflix never officially sanctioned the project, nor commented on the matter.

Definitely Not The First Time

Unfortunately, this is not the first time for investors to lose their money via a ‘rug pull’ scheme. In fact, a few months back, there was ‘The Mandalorian’ scam.

Similarly to now, a lot of people invested in the Mando cryptocurrency, only to find the entire thing to be non-existent.

The best course of action is to always perform meticulous research before investing. Regardless of whether it is an established brand or a promising start-up.

It is all about gathering as much information as possible and using it to your advantage.

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