Squid Game scam creators buy $125M worth of SHIB turning into Shiba Inu whales

[tokyohd]

Creators of the scam token Squid Game (SQUID) have become Shiba Inu (SHIB) whales. Apparently, the scammers have used their scam proceeds to buy SHIB tokens, a SHIBArmy‘s Twitter post says.

According to the post, a purchase of 3 million SHIB tokens worth $125 million was traced back to a Squid Game wallet. The funds were first sent through several wallets, probably in an attempt to conceal its source. There were also several transactions that added up to the total sum of $125 million.

The SHIBArmy in the tweet expressed concerns that there may be a manipulator of the token market price with the arrival of the suspected Squid Game scammers. This has caused panic among some SHIB holders with concerns that the price may not fluctuate naturally anymore.

Official Tweet Link: https://twitter.com/r_SHIBArmy/status/1468683128323678216?s=20

Investors fell victim to the Squid Game token scam
The sudden crash of the SQUID token was a major development in the crypto space as the token suddenly crashed to zero after a significant number of investors went in. This caused a major loss to thousands of investors, including a Shanghai man who lost his $28,000 life savings.

Source Link: https://finbold.com/squid-game-scam-token-creators-buy-125m-worth-of-shib/

[avikz]

One group of scammer is investing on another group of scammers! Honestly that's how I see the situation! Both Squid game and Shiba Inu tokens have flourished on hype without any actual use case. Squid game was a pre planned scam and Shiba Inu os waiting to be a scam!

Meme coins shouldn't have existed at the first place! But unfortunately, the number of meme coins is increasing like anything which are certainly providing the money launderers a much needed Avenue. This shit needs to stop from crypto market for greater good!

[Thymoty]

this is shocking news, the developers of squid scam coin openly invest with the money they scam. what a shameless cheater!

[babygun]

One group of scammer is investing on another group of scammers! Honestly that's how I see the situation! Both Squid game and Shiba Inu tokens have flourished on hype without any actual use case. Squid game was a pre planned scam and Shiba Inu os waiting to be a scam!

Meme coins shouldn't have existed at the first place! But unfortunately, the number of meme coins is increasing like anything which are certainly providing the money launderers a much needed Avenue. This shit needs to stop from crypto market for greater good!

I wouldn't call Shiba Inu a scam and I don't think they will become one. Don't get me wrong, I don't like this whole memecoin movement and a lot of people will loose money when investing these coins. I am afraid we need to have a very long bear market and then maybe 50% of all these useless coins will hopefully stop to exist.

[livingfree]

What a big LOL.

Hopefully, the developers of shib would do the same as Tether to these scammers that they would freeze their funds.

At least the victims would get some justice for what they did.

[dothebeats]

There's not much that people can do about it anyway, unless of course they employ the help of law enforcement in order to freeze those funds and put the creators of the coin behind bars (which we know is highly unlikely). The developers of SHIB can't do much about it, and they surely can't freeze those assets as it will just show that they can control the coins at their own will. They can only rant and be upset about what happened, but unfortunately that's how crypto works.

[ryzaadit]

The SHIBArmy in the tweet expressed concerns that there may be a manipulator of the token market price with the arrival of the suspected Squid Game scammers. This has caused panic among some SHIB holders with concerns that the price may not fluctuate naturally anymore.

This one is funny, while "ELON" keep tweet to make the price is reach. We all know, the "SHIBA INU" is growing not naturally because only a tweet from ELON

They should compare with market-cap of the token itself, this is kinda small based on the marketcap. Just like bitcoin while some whale from old miner 2009-2010 who have 500-1000 BTC people are panicked and scare the market gonna be dump.

But the reality even dumped instantly, the order book or price is gonna to back up really fast.

[Johnyz]

There are trying to liquidate the money for sure though buying SHIB will make them more rich especially if the price goes up. That scammer will never succeed in life, Karma will hit them so let time work on this. If they have the real identity, hopefully someone will file a case against them, they are really greedy.

[Lanatsa]

What a big LOL.

Hopefully, the developers of shib would do the same as Tether to these scammers that they would freeze their funds.

At least the victims would get some justice for what they did.

So it turns out that SHIB would be centralized ? For sure it would crash  its price on  the time that it does have happen on where  the community does know
that it could be possibly be done.

For now  there's nothing we can do but to deal with it if those SQUID scammers did really put their scammed funds into this coin?

They could pull it off all they can everytime they do want neither going for profits or simply trying to mix those coins  out.

[shohag999]

I bought Sqide token & finally loss money.Now they are in market.Not good news.Crypto is very risky market I think that.

[Teraboy]

According to the post, a purchase of 3 million SHIB tokens worth $125 million was traced back to a Squid Game wallet. The funds were first sent through several wallets, probably in an attempt to conceal its source. There were also several transactions that added up to the total sum of $125 million.

Are you sure about this? It seems like the article was giving a wrong calculation. 3 millions shiba inu worth 125 millions USD? How is it possible?

The SHIBArmy in the tweet expressed concerns that there may be a manipulator of the token market price with the arrival of the suspected Squid Game scammers. This has caused panic among some SHIB holders with concerns that the price may not fluctuate naturally anymore.

it's quite strange to hear that from shib holders. Is not it this token pump and dump token? The movement of the price will never be natural.

Investors fell victim to the Squid Game token scam
The sudden crash of the SQUID token was a major development in the crypto space as the token suddenly crashed to zero after a significant number of investors went in. This caused a major loss to thousands of investors, including a Shanghai man who lost his $28,000 life savings.

That's why the scammer must be traced and then jailed. They lack of actions against this scammer. Im feeling that if this could be a disaster for anyone who see their money be used to bought shiba.

[chaser15]

Those who are enthusiasts of Shiba Inu and treating it as a next Doge that price can reach over $0.1 soon should now think twice.

Shiba Inu already has lots of whales and one of them is big scammer. With their actions, they can dictate whether they can crash the price or hype it. The speculation about Shinu reaching $0.1 to a dream price of $1 won't happen and I'm sure of that.

Don't make an unrealistic target and stay close to realistic so you won't be hurt.

[Dave1]

Oh well, if proven this Shiba should freeze that account of Squid games scammers and then help to distribute it back to the people who gets scammed.

However, this is scammers to scammers so we don't know if they are going to help each other, Lol.

In any case, this Squid game creators should really be put in jail for running investors money and hopefully they can be still caught in the future.

[Godwinpaul]

It feels really bad when I hear issue of people investing their life savings into cryptocurrency. I won't be bothered if one invests his life savings into real estate because the risk factor is low, but in crypto it's a NO NO. I wish more people would know this and choose better. The squid game creator did a very bad scam and should be made to face the law.

[Kemarit]

It feels really bad when I hear issue of people investing their life savings into cryptocurrency. I won't be bothered if one invests his life savings into real estate because the risk factor is low, but in crypto it's a NO NO. I wish more people would know this and choose better. The squid game creator did a very bad scam and should be made to face the law.

Yes, I agree, it's really the sad state of cryptocurrency, scammers are just all over the place and you can't really identify them until it's too late and it brings bad light to the whole market itself.

I think they really did a good job of hiding their true intentions in the beginning and riding the hype of squid games that time and many fall for it. And then boom, they are gone with one of the biggest loot for this year.

[lumierre]

Actually, Shiba Inu is building a strong community and is going to create its own metaverse, so actually, this investment is not very unreasonable. What is more, I know that they have earned much more on their scam and they didn't invest the whole sum in Shiba, so apparently they will diversify their money between different projects.

[fadil46]

I bought Sqide token & finally loss money.Now they are in market.Not good news.Crypto is very risky market I think that.

I also often wonder why the average newbie prefers the less popular tokens over the more popular tokens, and after they lose their money, they say cryptocurrencies are very risky and all the same 

[el kaka22]

I haven't seen that much of an increase in Shiba price lately to be honest. I mean sure they probably bought it if people checked and tracked it back to them, there is no doubt about that. However, that doesn't mean that it was all done together, I am pretty sure they found a way to do it without raising suspicion. Think about it, a token like shiba getting 125 million dollars all at once and not moving up like crazy? It should have been a HUGE increase if you ask me.

But look at the chart of shiba, there is no huge spike anywhere, in the last 1 month there has been just one increase and that was during last day of October which everything else had a great day too. Wonder how they managed to slide that by and only figured out after the fact and not during.

[makishart]

Lol im a bit surprised to see that after i was seeing scammer was preferring to put hacked amounts of money into the top coins rather than bet into the another garbage coin. Im feeling curious about how much already raised by the scammers from rugpulling squid game cash. As far as i know he was only getting 2 millions USD and what the heck was wrong with that news if the scammer has more than 125 millions USD worth of money that he got from rugpulling squid game. As far as i remember that if the liquidity on squid game cash was not so big even the price already pumped so hard but it doesn't contain more than 100 millions money on its liquidity pool. That would be interesting to see that how much money that stolen by this scammer. I know those who got rugpulled are feeling sad coz they were making the scammers to be the whale of shib right now.

[goinmerry]

I don't know who to blame especially that investors who lose $28,000 life savings. What in world they will invest in that kind of name. Squid Game token is not even an attractive name and copying a name from a TV series is like they are just treating the coin with a joke. But what happened already happened.

Scammers won't be stopped as they can still even fall people into a trap on that kind of joke name. And now they enter Shibu, the market will be shaken once they sold all their coins leaving those low investors being dragged away.