The Squid Game coin crashes just a few days ago after we reported on as a possible scam. SQUID collapsed from close to $3000 to almost zero, as it appears the founders have vanished from the scene, likely pocketing the funds. We hate to say it, but we told you so.
The Squid Game crypto, inspired by the Korean series which has exploded in popularity on Netflix throughout the world, surged by over 86,000% in a week, despite having no connection whatsoever to the series.
Squid Game Coin Crashes to Zero – Founders rich, Everyone else dead.
The SquidGame.cash website has now disappeared, along with the lacklustre social media presence that the founders had created.
As we pointed out in our earlier article, some crypto enthusiasts noted that not all was what it seems, with many highlighted the obvious spelling mistakes on the currency’s website and social media channels. It was also impossible to reply to any of the tweets that SQUID was sharing on Twitter, and neither did the founding team have an presence on LinkedIn. All of these should be massive red flags to any savvy investor, but that didn’t stop millions of dollars being ploughed into the coin… and now it’s basically all gone.
It soon became apparent on the morning of November 1st that this was a massive ‘rug pull’ exit scam, as the price of the Squid Token dropped from $2,861 to $0 in a matter of seconds.
YouTuber ‘SimonZawa’ was livestreaming as the SQUID coin collapsed right in front of his eyes:
The massive scam that was the SQUID token is exactly the reason why investors need to do their own research before investing in a coin. In this ironic twist, reminiscent of the actual plot of the Squid Game TV series itself, hundreds of investors got their portfolio’s killed in a brutal bloody way, whilst one winner walked away with all the money.