The $SQUID cryptocurrency wasn't affiliated with the Netflix hit in any way. That should have been the first red flag. Squid game cryptocurrency price chart And the coup de grâce, the fact that holders of the Squid Game token were (and still are) unable to sell their SQUID, due to an apparent safeguard built into the crypto’s algorithm which meant that users were (and still are) unable to dump their SQUID holdings.
An anonymous Squid investor told CoinMarketCap, "I lost all of what I had in this project", after investing $6,641 ($US5,000) into the cryptocurrency. There were several red flags for Squid token, including the numerous spelling and grammatical errors in the project's whitepaper and the website only being registered one month ago. Unlike large cryptocurrency exchange platforms such as Coinbase, which is registered by US and European regulators, DeFi projects like PancakeSwap avoid a third party and so anonymity is often possible.
Earlier in April, a report had revealed that the total crypto crime in 2020 has amounted to around $10.52 billion (roughly Rs. 79,194 crores). The game where only the scammer are the winners Disclaimer: Any financial and crypto market information given on Analytics Insight is written for informational purpose only and is not an investment advice. Conduct your own research by contacting financial experts before making any investment decisions. The decision to read hereinafter is purely a matter of choice and shall be construed as an express undertaking/guarantee in favour of Analytics Insight of being absolved from any/ all potential legal action, or enforceable claims.
The Squid Games crypto, better known as the ‘Squid Token’, was a cryptocurrency developed by someone that, to this date, remains anonymous. They followed almost the same pattern as actual games. First, you would have to participate in a presale, and the ten most expensive placeholders would get validated and they will go to the next level. Then there would be games that the placeholders would play, and whoever won any of the top three positions would gain points; in the end, the three placeholders with the highest point valuation would win and split the prize money. Squid Game Price Chart (USD) Mashable has covered rug pulls before, specifically the large number of social media influencer-promoted crypto scams that took off over the summer. However, SQUID was able to generate a lot of mainstream press coverage, something even most of the influencer-backed crypto scams failed to do.
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