Squid Game Crypto-Scam Swan Dives To $0 After Stealing Millions From Its Investors, Allegedly

  • A Squid Game-inspired cryptocurrency is now worth absolutely nothing a mere day after its value had surged by more than 45,000%.
  • The crypto’s website and social media accounts have all disappeared, including their Twitter account that was closed due to “suspicious activity.”
  • A man screamed on Twitter, “It went to zero!” as he watched the crash live. Squid’s creators are forecasted to have made off with around $2.1 million.

Arpan Rai from The Independent writes:

“A Squid Game-inspired cryptocurrency is now worth nothing just a day after its value had surged by more than 45,000 per cent.

The Squid cryptocurrency, based on the hit Netflix show, nosedived to $0 on Monday after it was reported that it could be an alleged scam. At its peak on Sunday, the Squid crypto token was valued at $2,856 (£2,090).

The cryptocurrency’s growth had surged within a week of its launch. But those who invested in the Squid token have now lost potentially millions.

Its current valuation shows it to be worth $0.00322 (£0.002356), according to CoinMarketCap, a cryptocurrency price-tracking website.

The cryptocurrency’s social media accounts, including Twitter account, have disappeared. The social media giant had earlier said it had temporarily restricted Squid’s account because of “suspicious activity”.

The cryptocurrency’s website and its white paper that detailed the cryptocurrency have disappeared as well…”

See full story here.

Categories: Business, Tech, WTF?

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