Today news
About the same in other media
Game over! Squid Game-inspired crypto scam collapses as price crashes from $2.8K to zero
Reading now: 409
A cryptocurrency inspired by Netflix's internationally hit TV show "Squid Game" scammed investors in what appears to be a $3.38 million "rug pull" scheme.
Dubbed "SQUID," the cryptocurrency plunged to almost a fraction of a cent minutes after crossing over $2,850 at 09:35 UTC, Nov. 1. The deadly drop surfaced following a 75,000% bull run, showcasing a greater demand for SQUID among traders after its debut on Oct. 26.
At the core of the retail craze lay the popularity of Squid Game. The scammers promoted SQUID as a play-to-earn cryptocurrency inspired by the South Korean TV fictional show in which people put their lives at risk to play a series of children's games for the opportunity to win 45.6 billion won (~$38.7 million).
The marketing ploy
Read more on cointelegraph.comAbout this in other media
South Korea’s crypto-tax plans in muddy, political waters now ambcrypto.com /2 years ago
Coinbase Users Sharing Crypto Portfolios, ETFs in US & India + More News cryptonews.com /2 years ago
South Korea’s Prospective New President Mulls ‘Giving a Crypto to all Citizens’ cryptonews.com /2 years ago
Show more
The website finance-news.co. is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.
