- South Korea’s popular series Squid Game launched a crypto token $SQUID.
- Squid game’s high popularity $SQUID hitted a peak within a week.
- Anonymous scammers cheated the investors in millions.
Gaming Industry is now growing mature in the market attracting a lot of gamers during the season of pandemic. Besides, many innovative technologies were associated with the games to gain more interest from the players. To highlight, people were so addicted to these games and series publishing on social media mainly, Netflix.
This Squid game is also a popular South Korean survival dramatic series released on Netflix which totally consists of nine episodes. Within a short span of release, this particular series scored huge interest among the people. Notably, it received international attention with more than 142M members during its first four weeks from launch.
Thus, with so much popularity and millions of viewers, Squid game became Netflix’s most-watched series till date, beating 2020’s. With this huge fan base, a group of people launched a crypto token in theme with the game, $SQUID. It is introduced with no affiliations to the creators of the series, thereby giving a huge hit in the market.
A Rug-Pull Crypto Scam
As soon as the $SQUID token was launched into the crypto market, many users were surprised to see the crypto token with the gaming theme. As the Squid game show was more popular and recent talks of the town, a large number of users became $SQUID investors.
Moreover, after listing the token, it briefly gave a peak hit of $2,800, exploding its growth in the market. Current market status of SQUID is $0.016012 skyrocketing up-to 375.79% in the last 24 hours. From the launch to till date, the $SQUID crypto token is maintaining a green graph in its market status.
As an unexpected twist, a group of anonymous scammers behind this crypto scam millions of investors’ money. The scammers cheated the users promoting the token as the Squid Game project. Additionally, it is a crypto play-to-earn platform where people can buy tokens to use in online games.
Not only this, the investors were informed that the coin can later be exchanged to other digital assets or fiat currencies. Thus, with huge investments on the new coin, the value just surged 100 percent within a week.
However the scammed amount is not accurately found but it is approximately more than $2.5 million of investor’s savings. As processed in a cunning way, the scammers decline the trading activities and withdraw the entire assets.
Thus, with the huge popularity of the Squid game, the $SQUID token went on a hype attracting large investors. Unfortunately, it is the recent talk of the town around other cryptocurrencies in the marketplace.
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