Squid Token, Cryptocurrency Inspired By Netflix’s Squid Game, Collapses In Apparent Scam
Squid Game turned out to be a worldwide hit and seeing its popularity a cryptocurrency was launched more than a week ago. Inspired by Netflix’s show, it was said to be an crypto play-to-earn platform.
Netflix’s Korean-language show Squid Game turned out to be a worldwide hit. As the show’s popularity skyrocketed, a new cryptocurrency was launched called the Squid Token. It was introduced as the ‘exclusive coin of the Squid Game project’. On October 29, the value of cryptocurrency had surged by 2,400 percent. On November 1 morning a Twitter user had reportedly noticed that the creators of the project had ‘rug pulled’ SQUID holders. As per the data on CoinMarketCap, the prices of SQUID dipped by nearly 99.99% in recent hours. As per a report in Gizmodo, the scammers have collected approximately $3.3 million.
Cryptocurrency Inspired Squid Game Collapses In Apparent Scam
The #cryptocurrency based on #Netflix blockbuster #SquidGame has collapsed, and anonymous scammers behind the cryptocurrency that peaked to $2,861 before plummeting to $0 on Monday, made over $2.1 million before shutting the crypto project. pic.twitter.com/9wGgCBkboN
— IANS Tweets (@ians_india) November 1, 2021
(The above story first appeared on LatestLY on Nov 02, 2021 02:12 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
