Squid Game Or Scam Game - Token Loses All It's Value
A Token which it got it's name from the popular Korean series SQUID GAME has lost almost all of its value as it was revealed to be an apparent scam
Nowadays almost everything is tokenized! Many really can't differentiate the real owners of the tokens and many has fall victim of the latest squid scam.
Squid's game is one of the most of the most watched movie on netflix and many looked to take advantage of that.
Just like many tokens,it was created for the public and many were interested in it. The nature of the scam was a known Rug pull.
According to BBC News
Squid was billed as a token that could be used for a new online game inspired by the Netflix series - which tells the story of a group of people forced to play deadly children's games for money. The game was due to go live this month. However, cryptocurrency experts had warned of several tell-tale signs that it was likely to be a scam. Most telling was that people who bought Squid tokens were unable to sell them. Critics also highlighted that its website contained many spelling mistakes and grammatical errors. The website is no longer online and social media accounts promoting the tokens have also vanished.
While there are many more information about the scam,this in my opinion doesn't look good for the crypto community because it means you could be buying coins from just anyone.
For more information you can read; Source : Squid Game crypto token collapses in apparent scam
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