Squid Game crypto rug pull — why investors are also at fault


Squid Game token was lured many investors into its fraudulent lair, seducing buyers with its buzzwordy name inspired by the ultra-popular Netflix show. On its now-defunct official website, the cryptocurrency’s developers falsely claimed to be partners with the streaming giant as well as Microsoft and OpenSea (an NFT marketplace).

As Squid Game token skyrocketed from 10 cents on Oct. 27 to a shocking $2,861 on Nov. 1, holders scrambled to sell the token. Unfortunately, many couldn’t secure their profits. The deceptive developers sold their share of tokens and fled, sending the price plummeting to a near-worthless value.





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