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

[BitcoinAccepted]

What I can see here is that they are trying to get rid of money even though shib will make them richer especially if the price goes up.  After that they will never be successful.
One day they will have to suffer the consequences of their deeds so I think it is not right for them to do it

I also really wonder why anyone can completely believe what other people say about a meme coin that is obviously only useful for a short time, because I don't see any meme tokens that are useful in the long term.

Maybe those who believed that investing on such coin, even with the fact that it is being considered as a meme coin or has any other issue, are the people who are attempting to go with the flow of the trend and take advantage of it after some time. Unfortunately, they were preceded by those of the management with their real intention behind launching the coin.

[savetheFORUM]

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.

I don’t know why people keep on making this same mistake all the time, Despite that it is clear that cryptocurrency investment is a big risk. Apart from the fact that you might likely be walking into a scam, the fact that you’re also about to take a risk even if the project is legit, because the market fluctuates, that should be enough to make you think twice about how much you are investing in that asset. How could someone be investing their life savings in a volatile market? That's honestly ridiculous when lots of awareness guides are available across this forum and everywhere of internet.

Yeah people are fond of making this mistake, because they all want to get rich overnight, so they go all out and invest everything they have, without caring if it’s a scam or not.  Even if I am going to take such a risk, it should be with Bitcoin, and not just any random coin. Because, if I invest my life savings in bitcoin, I know for sure that it would continue to increase in value, no matter how long.

I feel sorry for those that lost their money though in squid game scam. At least from here after they must learn lessons from such incident hence in future they will avoid all planned scams.

[Cling18]

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

It's just so disappointing that Squid game token investor's hard earned money are just being used by scammers to manipulate another coin. I hope that they could pay for this crime in other ways though that's quite impossible in crypto industry. I don't think having scammers as whales of a certain coin would still affect the coin positively.

[llecrf]

If the money generated by the fraudster remains in the crypro wallet, I think some exchanges can freeze the wallet, I think the OP can share the wallet address and the purchase transaction, this situation is very concerning and until now there are still many fake coins listed on coinmarketcap , coinmarketcap should be able to change the rules again in terms of listing on their list, such as tokens must be audited and other things.

[martina14]

The scam creators are certainly got a million dollars now on His hand, where He knew that all investors here in crypto space was anonymous so, He have the guts to do it. Sad to say to those who became a victim on squid games who got scammed. For what He did now is that He was really a money maker here in this field of industry of the cryptocurrency.

[jrrsparkles]

Since the team traced the funds used to buy those tokens are from scammed money then its possible for them to blacklist the address right? Well, I never thought about investing in the Shiba but those who have invested should be careful because the crash is going to come soon since the scammer will cash it out soon or move to another coin again.

[jeungo]

Generally not to say that this news surprises me. there is only one interesting part in it, that it was decided to voice this connection in the operations. Although it can be assumed that this was initially a provocation to undermine confidence in the project in which this money went, and someone will follow other motives about which we will not know.