The Squid token, inspired by the "Squid Game" series, lost almost all of its value, turning out to be a scam. Within a few days, its price skyrocketed from 1 cent to $2856, but then collapsed by 99.99 percent. The developers vanished with $3.38 million, and buyers could not sell their tokens. Signs of the scam included errors on the official website and the inability to resell. This is a classic case of a "rug pull," where the creators of a cryptocurrency disappear with the investors' money, which is common in the world of cryptocurrency without proper regulation.
12/28/2024 12:48:00 PM (GMT+1)
The Squid token, inspired by the "Squid Game" series, lost 99.99 percent of its value after the developers vanished with $3.38 million, leaving investors unable to sell their tokens 💸
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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