Investors Lost Millions as Squid Game Token Collapsed

Squid game was definitely a very great show to watch and has made Netflix quite popular in the mainstream media. The craze of the show eventually started to grow up to a point where there was a cryptocurrency named after the show. The squid game token started trading not so long ago and was trading at mere cents about a week ago. It saw a rapid boost after three or four days and became quite popular among crypto investors and traders.

Given the fact that cryptocurrency is just launched and is able to secure such handsome performance and value in no time gives out all the red flags there are. Investors started to pour money into this once-in-a-lifetime opportunity, or so they thought, all of it has come crashing down now. At the time of writing, the squid game token is equivalent to nothing as the official web for the token goes offline. The owner of the token came forward on telegram and gave out a very hopeless statement that almost sounded fishy about why the project was going down.

No Relation between Netflix and Squid Game Token

They said that squid game developers had become the victim of the latest hacks and scams, and they were almost overwhelmed by the stress. They don’t wish to continue with the project and will be closing it down for good. This is not the kind of message you leave for your investors and followers after you start developing a cryptocurrency. Why were there any hacks or scams in the first place? Your infrastructure and blockchain should have been secure enough. In about 5 minutes, the squid game token failed by a factor of 99.98%.

The developers of the Squid game token have been without any doubt running a Ponzi scheme that only managed to stay alive for a week. They have definitely run away with all the money and the funds which were invested into the project by investors and brokers. There is one strange thing; the squid game token had no affiliation with Netflix whatsoever. This might have been the biggest red flag there is, but when people want to give in to something and believe it to come true so badly, they don’t even look at these warning signs or pointers.