'Squid Game' cryptocurrency scams $2 million

[aseprebel]

I feel sad for those investors but I think we can prevent such scam projects if we invest on a real project with a trusted team.

Open pump and dump schemes are rampant in the crypto world, with investors often jumping in with their eyes wide open, perhaps hoping that they can ride the wave and dump their holdings for a quick profit before the price collapses, so be careful for investing.

[NelfiNovita]

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?

Fraud cases will not go away in the crypto world, they are greedy and irresponsible for every job they do. The scammers only care about themselves, I hope there will be a website forum where this site aims to place registration of all newly launched tokens and for those who don't want to register their coins in that forum then the tokens they have will be called a scam project .

[tvplus006]

I don't understand the situation that has developed around Squid Game. After the website of this project and other social networks were disabled, first Poloniex https://poloniex.com/exchange/USDT_SQUID and then Gate.io https://gate.io/trade/squid_usdt have listed SQUID on our exchanges. I think that after such listings, these exchanges are unreliable for trading, because by trading coins like SQUID, you can lose your money.

[wxa7115]

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?

Yeah it's a dead right scam. But there's actually people that are looking for these scams, as gain potential is very big.

As upsetting as this sounds this is the truth, there are many people that do not know any better and invest in all kind of scams since they do not know how to identify them, however there is a not small number of investors that know what is up with most of the coins in the market and they know that sooner or later a coin like this will eventually scam their participants.

But they do not care because they expect to get out of the coin before this happens, but unfortunately for them even they are running a huge risk and most of the time they will get scammed as well, which in my mind makes their mistake even more unforgivable because at least in the case of newbies we can use ignorance to excuse their behavior, which is not something we can do here.

[blockman]

I think such scam attempts help people learn a good lesson. I hope everyone now makes their investment in line with reason and logic.

agree.

because of hype on real life doesnt mean it will explode on cryptocurrent. advertiser will give small effort to gain massive people by 'whats going on' on real life, and people will trust because that thing very famous in their life.

It does help people to learn more about being protective with their money to invest in different projects. But the sad thing, there are investors that won't mind buying those projects that are likely to be a scam because they're moving forward to the return. Not exactly that they know the project is bad but they've been projecting how much they're going to earn if they enter early. With such behavior, it is the trap that makes them fall into having a bad experience.

[CapGelatik]

I don't think it's a scam, because from the beginning the concept of this token was rugpull.
yes, from the name alone we can conclude that it will happen, do you remember how the Squid Game movie?
yes only 1 person wins, and in this case the winner is the developer, it's a pity if you follow tokens like this

[ZAINmalik75]

Yeah its make a huge scam I think 2million is huge amount and due to this scam most of the shit coin become affected because many people withdraw thief fund from shit project because they were afraid for thier fund because scam can be occurs any were in any shit and memes project.

[livingfree]

Yeah its make a huge scam I think 2million is huge amount and due to this scam most of the shit coin become affected because many people withdraw thief fund from shit project because they were afraid for thier fund because scam can be occurs any were in any shit and memes project.

Dude, it's surely a large amount.

You don't have to think about that if it's quite big or small because it's really a big amount that has been scammed to those investors that don't do their research.

This mistake will have to be applied as a lesson learned for them.

[bct-user]

I think such scam attempts help people learn a good lesson. I hope everyone now makes their investment in line with reason and logic.

Some people may learn from the scam issues, but some others may not really care. In reality, there are always many people who want to risk their money in the new hype coin/token. This means they never learned about the possibility of scam coin/token on the new hype projects. Not all people use their mind in investing, some others just use their greedy to invest in crypto.

[nikola22]

Some people may learn from the scam issues, but some others may not really care. In reality, there are always many people who want to risk their money in the new hype coin/token. This means they never learned about the possibility of scam coin/token on the new hype projects. Not all people use their mind in investing, some others just use their greedy to invest in crypto.

as you see scams appear regularly so there are always people who easily give their money to scammers. sometimes they lose their money twice or even more times so they can't learn the lesson.

[Saisher]

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?

People who participated in this meme coin should be aware of the red flag it's obviously a red flag meant to do pump and dump, those who get notification of the pump are likely made a huge profit and those who have not are likely made huge losses unless they made exit at the right time before the dump, this is very risky and people who do not how this works should ignore these pump and dumps scheme by developers.

[goinmerry]

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?

There 2 different types of people who joined the craze;

- the risk-takers that already knows the outcome
- the believers on which I don't understand how they ended up believing on that coin

Unfortunately, most people believe and they end up in FOMO. Should serve again another lesson over lesson.

[yazher]

- the risk-takers that already knows the outcome
- the believers on which I don't understand how they ended up believing on that coin

Unfortunately, most people believe and they end up in FOMO. Should serve again another lesson over lesson.

Lots of investors lost on the token because they took the trend before they make any research. I think the risk-taker made a huge hype to attract those poor guys but the real blame is on those who didn't make a second thought before investing and they thought they can make a huge profit since the price was sky-rocket until it blows and it leaves them with negative income right now.

[Orange89]

Well hype will profit you no doubt but on their side you must do your own research as in the squid game token their project is not audited and they had fully copy the code of other projects people are buying it due to suggestion of YouTuber, Influncers that's what i found, Truely i had also suprised by the growth of the Squid

[Fredomago]

Yeah its make a huge scam I think 2million is huge amount and due to this scam most of the shit coin become affected because many people withdraw thief fund from shit project because they were afraid for thier fund because scam can be occurs any were in any shit and memes project.

Dude, it's surely a large amount.

You don't have to think about that if it's quite big or small because it's really a big amount that has been scammed to those investors that don't do their research.

This mistake will have to be applied as a lesson learned for them.

It's not the first time that it happened and we keep saying that it will serve as a lesson learned, there are still many people who already blind because of greed, thinking that hypes will let them earn a lot if they invest in the earlier stage of the project, scammers understand that emotion and they are good playing with those kinds of people.

They will let someone to earn and keep the greediness inside to invest for more and find other people to invest with them before scammers will do their favorite job, running away with all the money.

Squid game project is another project that will be remembered when another one came up and scam again.

[airdata]

Really it is very bad for all SQUID coin investors, i think it is the another big scam in crypto market, how this possible?   I see many investors lost their fund through this scam but i this team is fully involved for this type scam.     

[so98nn]

Well they got "squid-engulfed" I would say, LOLZ.

Pretty bad move by those peeps who fell for this name and invested their money into the coin like this. That's the issue here, they all come with the next level adrenaline rushing through their minds and think that they can make quick money out of the crypto currencies. Now it's so clear here that some rich guy or group of guys might be hovering on the 12 cents board and they suddenly took an opportunity of the NetFlix TV show popularity and "deceived" all the investors!

Imagine everyone was literally pouring their money into the hands of these 12 cents guys.

No-wonder, these things also happen in the real world too..

When we were under the COVID attack, the oxygen supplies were dropping at alarming rate. At the time there was a company in India, which had Oxygen in its name and everyone thought that it will have good market now and we must buy the shares. The shares went crazy up and later it was identified that the company was not even associated with Gas Production. Lolz. So yeah, research before you jump in.

That's the simple Mantra here.

[livingfree]

Yeah its make a huge scam I think 2million is huge amount and due to this scam most of the shit coin become affected because many people withdraw thief fund from shit project because they were afraid for thier fund because scam can be occurs any were in any shit and memes project.

Dude, it's surely a large amount.

You don't have to think about that if it's quite big or small because it's really a big amount that has been scammed to those investors that don't do their research.

This mistake will have to be applied as a lesson learned for them.

It's not the first time that it happened and we keep saying that it will serve as a lesson learned, there are still many people who already blind because of greed, thinking that hypes will let them earn a lot if they invest in the earlier stage of the project, scammers understand that emotion and they are good playing with those kinds of people.

They will let someone to earn and keep the greediness inside to invest for more and find other people to invest with them before scammers will do their favorite job, running away with all the money.

Squid game project is another project that will be remembered when another one came up and scam again.

It's likely that there are more newbies that have been victimized by this rugpull of squid scam token.

True that there have been others existing before and there's a new one that's replacing it with historical remembrance about the scam. As we say that the newbies that have been involved in it will learn the lesson.

It's a worry that the new generation of newbies if not educated about such scams, are likely to be victims again.

[Japinat]

I heard about this coin but did not invest.

Though $2 million is just a small amount compared to the money going in and out in crypto but for a scammer to take $2 million, that's already a jackpot. This tells us that there are still newbie investors out there who do not have enough knowledge in crypto but went so aggressive, if they understand the basics, they would not fall for that scam.

I can't believe that volume that time was $11 million _https://coinmarketcap.com/currencies/squid-game/
Probably the scammers trying to pump the coin with their money and take the money from those who ride with the FOMO.

[carlisle1]

I heard about this coin but did not invest.

Though $2 million is just a small amount compared to the money going in and out in crypto but for a scammer to take $2 million, that's already a jackpot. This tells us that there are still newbie investors out there who do not have enough knowledge in crypto but went so aggressive, if they understand the basics, they would not fall for that scam.

I can't believe that volume that time was $11 million _https://coinmarketcap.com/currencies/squid-game/
Probably the scammers trying to pump the coin with their money and take the money from those who ride with the FOMO.

The way scammers allured new investors, showing that the coin is really pumping.

Those people are waiting for anybody to follow them and go inside the trap. Not all are newbies. There are also old timers who recruit those
newbies, thinking that by referrals they will earn more but forget about providing in-depth information about the investment that they'll going
to take.

It's true that over-all compared to those other scams this is just $2million, but for scammers to runaway that money, it's already a good amount.
Expect them to go back and present new types of schemes and more alluring promises. $2M is good enough to used to make another pump and dump
move to bring new sets of victims.