'Squid Game' cryptocurrency scams $2 million

[Sethrey]

On Oct. 26 a coin called $SQUID was launched by a group with no affiliation to the creators of the hit Netflix show -- the first red flag. As memecoins sometimes do, it exploded in growth. After listing at 12 cents, on early Monday morning it briefly hit a peak of $2,800.

Then, as memecoins are also known for doing, it all crashed. In an instant, the price fell to one third of one cent, where it remains at time of writing.

So the question is how people still believe in all that stuff? Easy money is very hard to catch. Especially while there are coins like Crypton privacy coin, which gained 50% right after the new listing and gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

[judeafante]

I did not invest here I have seen this being promoted in social media there are so many red flags, I just knew there will be a red flag and they can do rug pull anytime because it is a meme coin from a movie and this is the kind of scheme that scammers usually use to hype a coin then do a rug pull, investors never learn that if you are going to invest in a pump and dump coin be sure to moderate your greed, do not invest or if you invest only invest what you can afford to lose and get out when you are in profit.

[watergold]

I found out about this coin from an article which did exaggerate about it.
after I saw and looked at it, it turned out that the hype started to enter as a result of the popularity of this Korean film
on the other hand I also wanted to follow this fomo but I realized this was the wrong thing.
and now it happened, and those who had entered there should have known the risks would be like this.
so this is the end of this meme coin don't scream because they are gone because surely you already know the result will be like this

[RiskySanchez]

On Oct. 26 a coin called $SQUID was launched by a group with no affiliation to the creators of the hit Netflix show -- the first red flag. As memecoins sometimes do, it exploded in growth. After listing at 12 cents, on early Monday morning it briefly hit a peak of $2,800.

Then, as memecoins are also known for doing, it all crashed. In an instant, the price fell to one third of one cent, where it remains at time of writing.

So the question is how people still believe in all that stuff? Easy money is very hard to catch. Especially while there are coins like Crypton privacy coin, which gained 50% right after the new listing and gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

I just found out about this news in WhatsApp group with the news "Coin Market Cap has issued a warning has received many reports of users unable to sell this token on Pancake Swap, or any popular decentralized exchange because This coin indicates that there is anti-dumping technology that prevents people from selling their coins if certain conditions cannot be met."  wow i think its risky if someone fall into the coin trap, as we know Meme coin will never end because many investors are easily lured by news and market situations that are dominated by meme coins

[Snappycoco]

This coin is a perfect example of a rug pull project that utilizes the hype behind the name. Lots of projects are doing this so I think those who invest are dumb enough to not think before entering such extremely high risk investment. Thats why it is very important to invest to fundamentals rather than hypes. Wreckless investing will teach you how research is a must.

[Tigerheart3026]

i was a bit confused because i have seen provably yesterday a bounty campaign launched name is squid token btw i'm wrong it's another coin and cmc listed coin.
how memecoin investors did that a coin was 1 cent to 2860$ omg and finally they are suffering to lost in shitcoin investment.

[Gorosden]

I've seen three types of token using the name squid and yes all the three are scam, since crypto is growing more and more many people are trying to take things into their own hands, they also saw how great doge and shiba became so they look for another doge and shiba only in a wrong way, I'm pretty sure they've learnt

[X-ray]

On Oct. 26 a coin called $SQUID was launched by a group with no affiliation to the creators of the hit Netflix show -- the first red flag. As memecoins sometimes do, it exploded in growth. After listing at 12 cents, on early Monday morning it briefly hit a peak of $2,800.

I would like to call those people scammer rather than a group with no affiliation. They have gone with million dollars of money right now and so many medias were paying their attention on it. This is crazy how people didn't even think the creator of this garbage coin has not yet revealed their identity and still remain anonymous.

So the question is how people still believe in all that stuff?

People are expecting to be millionaires in short time through investing in the shitcoin and so many people keep doing this right now. Im also seeing it even there are more and more tokens have been rug pulling the investors about that. So many people are loosing their mind caused by they were being so greedy to get instant money through investing in the shitcoin.

gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

It will never end as so many scammers keep coming with more and more shit token. So many people are still beliving if they can be rich person in short time through investing in the shitcoin.

[Koro-Sensei]

This coin is a perfect example of a rug pull project that utilizes the hype behind the name. Lots of projects are doing this so I think those who invest are dumb enough to not think before entering such extremely high risk investment. Thats why it is very important to invest to fundamentals rather than hypes. Wreckless investing will teach you how research is a must.

Yeah agreed. They used the name and hype of squid game movie that draws investors in and dump as hard that it could be. I think lots of this could potentially be coming out still and many more will be get caught of this scam. Just like how Elon promotes Doge even it having no backed fundamentals.

[nimogsm]

I'm not surprised that this happened.These events with meme tokens should already teach people that nothing good will come of it and this is all lottery level.Losses will be for many and only the creators will have a profit.

[Valak]

On the other hand, with the development of technology and the adoption of the crypto industry, anyone can create a new cryptocurrency. Many developers release tokens or coin memes with various unique names such as Squid Game, rugpul is inevitable and careful.

[Jackl87]

On Oct. 26 a coin called $SQUID was launched by a group with no affiliation to the creators of the hit Netflix show -- the first red flag. As memecoins sometimes do, it exploded in growth. After listing at 12 cents, on early Monday morning it briefly hit a peak of $2,800.

Then, as memecoins are also known for doing, it all crashed. In an instant, the price fell to one third of one cent, where it remains at time of writing.

So the question is how people still believe in all that stuff? Easy money is very hard to catch. Especially while there are coins like Crypton privacy coin, which gained 50% right after the new listing and gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

I just hope that everyone that invests in such meme-coins or sh*it-coins only invest an amount of money that they really can afford to lose without it having any impact on the daily life of the investor, because in crypto in general and especially with meme-coins the risk is extremely high that you lose all of your money and i also think that now the chance to hit another meme-coin that will moon like Shiba-inu did a few weeks ago is not exitsent anymore, so i would advice anyone to stay away from meme-coins now. The worst thing that can happen is a scam like the guys from Squid did and the other possibility is that the project is just dead in a few weeks which also results in a total loss of your investment.

[adzino]

On Oct. 26 a coin called $SQUID was launched by a group with no affiliation to the creators of the hit Netflix show -- the first red flag. As memecoins sometimes do, it exploded in growth. After listing at 12 cents, on early Monday morning it briefly hit a peak of $2,800.

Then, as memecoins are also known for doing, it all crashed. In an instant, the price fell to one third of one cent, where it remains at time of writing.

So the question is how people still believe in all that stuff? Easy money is very hard to catch. Especially while there are coins like Crypton privacy coin, which gained 50% right after the new listing and gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

It was expected. I read an article and there were way too many red flags, yet people still invested in that token hoping to make some quick profit. Not being able to sell their tokens ("anti-dump mechanism" is what the scammers called it) was another huge red flag. Even crypto aggregator sites like coingeko issued warning and didn't list them on their site. Don't know why coinmarketcap did. They warned users, but it was too late. Anyway, are you here to shill for this coin you are talking about? Don't.

I'm not surprised that this happened.These events with meme tokens should already teach people that nothing good will come of it and this is all lottery level.Losses will be for many and only the creators will have a profit.

Why is everyone calling this a meme coin. It wasn't a meme coin.

[Doell]

the film is successful and becomes a hot topic ,maybe the coin will also be successful people will think like that then invest without thinking clearly that scammers will still be around with new product ,another reason is that they think it's a coin released by the squid film or netflix platform although there is no such news well investment without thinking clearly will lose everything

[bayudndy]

Perhaps the losers aren't long-timers in the field because projects like this are really recognizable because the products they create are so amateurish. Only inexperienced and greedy people think making money with crypto is simple, anyway condolences to those who lost money with this damn project.

[dimonstration]

the film is successful and becomes a hot topic ,maybe the coin will also be successful people will think like that then invest without thinking clearly that scammers will still be around with new product ,another reason is that they think it's a coin released by the squid film or netflix platform although there is no such news well investment without thinking clearly will lose everything

For some reason, I think this is the right assumption since this project spend there marketing heavily on social media to target crypto newbie to be attracted on there coin that's name after the famous Netflix hit series. Many people speculate too much and some is not even realistic just to have a reason to buy this too good to be true hype token.

There's a lot of coin like this and the best example was all the baby tokens such as baby doge, baby matic and baby cake. And other Project that using the name of other famous coin just to caught the attention of investors and get that same hype.

[barabeku]

I understood that it was a scam as soon as some people reported that they couldn't sell their coins. And you couldn't sell it because smart-contract was created  with proxy features. It let the owner renew contract on any logic , as a result, the team have updated logic to an unknown (unverified code) and then they withdrew all the liquidity in the amount of $ 19 million from PancakeSwap.

[Huppercase]

This is what happens when you join easy project for easy money and we all know that in reality, there is nothing like easy money.
In real life, if you try to invest in this type of investment, you will surely loose to scammers, then why invest in this one when you know the consequences of what you are doing, don't cry now that you have lost everything because you are always warned.

[shinratensei_]

So the question is how people still believe in all that stuff?

So many people who got trapped by that stuff was small traders with small amounts of monet that was hoping to make bunch of money and they can buy lambo with it. You can also try to study another shitcoin as well and its supporters and you will be seeing so many small hodlers were keep buying more and more shit tokens and then they believe if it will make them all the next millionaires like what happened with doge and shiba They never care about awareness that already made by so many people. They keep ignoring any awareness about potentially to lose all of their money by betting into the new shitcoin. They were hasrsh person.

Easy money is very hard to catch. Especially while there are coins like Crypton privacy coin, which gained 50% right after the new listing and gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

Have you ever heard the word of scammer disappear from the world? As long as people with bad intentions and behavior still exist and new scammers will always appear anytime. Are you also shilling your crypton? is not crypto another shitty coin that's traded on scam exchange sites like latoken? https://coinmarketcap.com/currencies/utopia/markets/
It doesn't have any differences with those meme token

[cryptoaddictchie]

So the question is how people still believe in all that stuff? Easy money is very hard to catch. Especially while there are coins like Crypton privacy coin, which gained 50% right after the new listing and gained 50% more in the next 2 days.. People still look for some scams on their own. OMG, will it ever end?

This will never end. How people believe in that? I'm sure you've witnesses how shiba Inu grows right? Some people believed too that a new sprout coin can do a once in a life time game change. But of course its not always the same result isn't it. People should always be cautious especially on memecoin that can easily build using few bucks to do a smart contract, website, and even social sites.