Squid Game token crashes 99.99% from $2,861 to $0.003475, Twitter account gone

[Dread Pirate Roberts]

This is a warning for meme coins lovers and users who love to follow twitter hype and quick to get profits from hype projects, a popular project with one of the popular Netflix series Squid game has plummet 99.99% of investors after the investors saw a big profits to a price level of $2,861 but unfortunately couldn't sell because of lack of transparency of the project, it has taken  negative dive and crashed below 1 cent. its currently trading below $0.005 as seen some few hours ago.
Twitter has also restricted their account after the incident.

I  got a recommendation on youtube about this Squid Game NFT before, is it official from the film production or from their fans? many boast that this token previously went up to 100,000% if the token is true it can only be bought and cannot be sold This nft developer is really unethical and like scamming their own supporters !

[o48o]

I wonder how many takes this as news. This crap has happened over and over before, anonymous devs and no real fundamentals, of course this was going to happen. I can't feel sorry for anyone who lost money on this because it should be an opportunity for expensive lesson. Question is how many lessons people can afford before they learn?

[cryptoaddictchie]

This is the scary part for those who were attracted to get on board with this project.
Now, the price is already down, I don't think there will be another pump as more than likely, the member(s) are already enjoying their "stolen" money from naive buyers.

Plus the team already used some mixer to get away with the money. That's very scary on the part of decentralized approach of blockchain. I'm not against having a decentralized system but those in favir should realize this as well that'd why SEC and authority are getting alarmed with what crypto can do. We can't probably oppress those scammers easily. The sure way to guaruanteed such event is proper regulation or strict implementation on those smart contract. Projects being launch such on pancakeswap should be strict like any token project that wanted to list should be doxx or submitted some verification or proof that they are legit.

[rhomelmabini]

Fuck no? The price hit 2.8k per token then go down to 0.003? Damn if this is real then those who got hyped by it during the high time are probably in deep loss now. Not to mentioned if whales played it as well and got cooked. This is the worst price dive that I've seen and witness for this year.

Hell yeah. Feel sorry to those who blindly invest saying "this is a no-brainer thing and it could get you rich quickly". Ahhhh, the feeling. Hoping that no lives gonna get lost because of this because even if you see you bought it a hundred or even lower than that and has no capacity to sell it anymore, that's something the misery, couldn't be worst. Not sorry for those whales, they can get it again but for those investors who put something like life savings, it's a torture.

This creator should get sued and there should be some investigation to follow and if it can be tracked or something. I wonder how much they got from this nosediving scene. The currency itself was like the movie adaptation, some investors are near the finish line but got the red light and they move, baaaaam! Shoot in the head.

[cryptoaddictchie]

This creator should get sued and there should be some investigation to follow and if it can be tracked or something. I wonder how much they got from this nosediving scene.

Actually they should be in prison forever for doing this atrocity. The only problem is theyre anon and probably they are careful enough to plan a good exit strategy for this. That's the problem when traders doesn't know or how to read codes where exploitation could easily be seen. Usually we can check it out prior to our investment. Ask some auditor if the contract is safe and has no possible rugpull or unlocked liquidity schemes.


With that huge steal probably they could get more than $50million or maybe more.

[sgenuine]

I understood that this token was a scam as soon as some investors reported that they couldn't sell, and I really don't understand why people continued buying it when they got to know that it can't be sold. You couldn't sell it because it was blocked with proxy features,iy means that the owner can renew contract on any logic. So they updated logic 6 days ago to an unknown (unverified code) and yesterday they withdrew all the liquidity in the amount of $ 19 million from PancakeSwap.

[ashmodeus]

lol , just 3 days and everything vanished , happy rugpull , i also watch the video about a guy was live stream and seeing that stupid squid game squeezing the holder  , just watch it by yourself .

[UserU]

BitConnect deja vu vibes.


At least a bunch of people have learned their lesson.

[blue Snow]

This is what you get from a Hype token. Reason why I don't invest in Dogecoin or Shiba.

I'm not sure why you compare doge with those (Shiba and Squid)? Doge is exist while you don't come here.

Squid token is completely different from Dogecoin but it's the point about a coin that's only made by hype.

true, but Doge is different, I used it for along time ago for faucet and bet. Squid is a new token that I feel it will use for the pump and dump scheme, I think it will not exist for a long time like Doge.

currently facebook is changing the name of META maybe there is a name META token in the near future and people keep buying it, it looks so stupid then they come to this forum and say crypto is a scam

we will avoid this also, they sell the name without lookup which hasn't changed the habits, they still have the problem with us about privacy.

I understood that this token was a scam as soon as some investors reported that they couldn't sell, and I really don't understand why people continued buying it when they got to know that it can't be sold.

that stupid investor who buys a new token without any research. i know they hope too much to get profit fast with invest like this and finally, they got hit

BitConnect deja vu vibes.

there's always a moment like this every time and everywhere.

[blockman]

Squid token is completely different from Dogecoin but it's the point about a coin that's only made by hype.

true, but Doge is different, I used it for along time ago for faucet and bet.

Yes, they're both different in terms of their market but they're both meme coins but Squid coin became a scam and rug pull.

Squid is a new token that I feel it will use for the pump and dump scheme, I think it will not exist for a long time like Doge.

Well, they've turned already into a scam and that's why it will no longer exist as they've already shown their true nature of being a scam. This had made a lot of its investors lose faith to the market because those that can no longer recover might already stop investing in cryptos.

[Valak]

Many trend buyers (the name for trend coin wholesalers) are looking for newly released coins (launching) in order to get the cheapest possible price and sell them at the highest prices, Squid game rugpul and many suffer losses..

[rhomelmabini]

Actually they should be in prison forever for doing this atrocity. The only problem is theyre anon and probably they are careful enough to plan a good exit strategy for this. That's the problem when traders doesn't know or how to read codes where exploitation could easily be seen. Usually we can check it out prior to our investment. Ask some auditor if the contract is safe and has no possible rugpull or unlocked liquidity schemes.

With that huge steal probably they could get more than $50million or maybe more.

Well, if they get caught I think that's more like the possibility where would they end up. More like it get mixed already but I think there are ways it could be tracked but looks like a tedious process. I don't know even if they present an audited contract if it's still dprove their legitimacy when there motive is really to scam the investors.

At least a bunch of people have learned their lesson.

But this means another thing for those who want to jump in the crypto space, it's something that make some fears.

[LogitechMouse]

A twitch streamer luckily caught it while he is on livestream here is the link: LINK
Do we need to pity those who invested in this project? I don't think so. Whatever we do, there will still be investors who will fall into these kind of scams.

Just a few hours ago, the discord channel of Axie Infinity got hacked and the scammer spammed a message and there is a phishing link there. Minutes after that spams, the devs deleted the announcement channel and in just a span of maybe 30 minutes or less, the scammers took $100,000 of the investor's funds.

The problem with some investors is that, we already knew that it is a scam and yet we are putting so much money into it to the point that they will be depressed if they lost that money. It is wrong but its the nature of the people to be risky because why not, you can get a huge money on it right . This Squid game token is a hit or miss project and unfortunately for the investors, this is just one of the many rugpulls that will happen and will happen and will happen.

Well, if you watched the series Squid Game there is only one winner there. Same here with what happened. There is only one winner here and its the developer .

[yhiaali3]

What happened is really terrible, not only that, but Coinmarket has published the following warning:

We have received several reports that the website and social sites are no longer working and that users are unable to sell this token at Pancakeswap. There is mounting evidence that this project is solid. Please do your due diligence and exercise extreme caution. Although this project is clearly inspired by the Netflix show of the same name, it is not affiliated with the official IP.

This is a real disaster. Poor investors are no longer able to sell their tokens even at the cheapest price. If users are not able to sell their tokens on Pancakeswap then unfortunately they lost their money, but I still see the possibility of buying, this is cheating.
This is a harsh lesson for anyone who runs after coins that are skyrocketing, from my experience I have gained a rule to never run after coins that have risen so much because they will eventually fall. These are chitcoins, especially meme coins, and soon their impact will disappear from the market.

[cryptoaddictchie]

but I think there are ways it could be tracked but looks like a tedious process. I don't know even if they present an audited contract if it's still dprove their legitimacy when there motive is really to scam the investors.

If there is a way then they should find it to give justice to those who invested big on this one. We can't totally blame them not knowing all even though they somehow responsible for their own funds. That's why they should always be careful.  Audited or not, I wonder why those investors aren't paying attention to the smart contract codes. This could be seen whether the liquidity cna be pool anytime which is quite risky and knowing that should already make them decide not to enter in spite of risk.