The Netflix series Squid Game, which took the world by storm, also turned the crypto world upside down.
The SQUID token, which appeared out of nowhere, managed to trap a large number of investors! According to Coinmarketcap data, the token, which rose to $ 2,861 in 24 hours, almost reached the bottom!
The token, which lost 99.99% of its value, dropped to $ 0.003262 as of the moment, and its market value of $ 2 billion disappeared in 15 minutes.
Immediately after this fall, the news that the founders disappeared with $ 2.5 million fell on the agenda like a bomb!
The website and social media accounts of the token also went offline, following the Twitter account, which was already restricted due to “some unusual activity” after the event.
The Beginning of the End Came to Shout
In fact, a few days ago, news began to circulate that some users were unable to dispose of their tokens. However, CoinMarketCap also issued a warning about SQUID and
We have received multiple reports that users are unable to sell this token on Pancakeswap. Please do your own due diligence and be careful when trading! While this project is clearly inspired by the Netflix show of the same name, it’s unlikely to be tied to the official IP.
made his statements.
A Complete Rug Pull!
The event referred to as rug pull in crypto literature is exactly what happened to SQUID victims. As a matter of fact, Rug Pull means that the project developers abandon the project and leave it to its fate.
Despite all that has happened, little is known about the founders of the project. There are claims on some sites that the project was implemented by a Turkish group. However, these claims are not clear yet.