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It soared over 300% since its introduction last week from less than one cent to an all-time high of $2,856 per coin. And then in the last 24 hours, SQUID crashed and its 4. Squid Game (SQUID) Token One of the worst rug-pulls in crypto was the Squid Game (SQUID) Web3 project, which was launched by an influencer on Binance On the front lines of a “rug pull” that left investors in the lurch. The cryptocurrency wasn't affiliated with the Netflix hitand turned out to be a classic exit scam. Squid went from one cent to as high as $2,800, before plunging to $0 on November 1. As per the reports, the anonymous creators of Squid Game coin sold their entire A cryptocurrency inspired by the popular South Korean Netflix series Squid Game on Novem, became the most hyped digital token when its valuation shot up to $2,861 per coin. It Rug pulls are carefully orchestrated schemes in which the developers of a cryptocurrency abandon the project and abruptly leave with the investor’s funds. The liquidy Squid Game Token scammers stole $3.3M by exploiting Netflix’s hit show’s popularity. Investors ignored red flags like restricted selling and fake gaming promises. The

Was the Squid Coin Rug Pull the Greatest of All Time? A Deep Dive

The Squid Game (SQUID) token, inspired by the Netflix hit, captivated the crypto world briefly before becoming synonymous with one of the most talked-about rug pulls in crypto history. Was it the "greatest" in terms of sheer audacity and impact? Let\'s examine the details.

The cryptocurrency wasn\'t affiliated with the Netflix hit and turned out to be a classic exit scam. The rise and fall of SQUID was nothing short of spectacular. It soared over 300% since its introduction last week from less than one cent to an all-time high of $2,856 per coin.

Then, in the last 24 hours, SQUID crashed. The anonymous creators of Squid Game coin sold their entire holdings, leaving investors in the lurch. Squid went from one cent to as high as $2,800, before plunging to $0 on November 1.

How the Squid Game Token Rug Pull Unfolded

As per the reports, a cryptocurrency inspired by the popular South Korean Netflix series Squid Game on Novem, became the most hyped digital token when its valuation shot up to $2,861 per coin.

Squid Game (SQUID) Token, a Web3 project launched by an influencer on Binance, quickly attracted attention. The liquidy Squid Game Token scammers stole $3.3M by exploiting Netflix’s hit show’s popularity. Investors ignored red flags like restricted selling and fake gaming promises. The rapid ascent was fueled by hype and speculation, but it masked a sinister plan.

Rug pulls are carefully orchestrated schemes in which the developers of a cryptocurrency abandon the project and abruptly leave with the investor’s funds. In the case of SQUID, red flags were present early on, including restrictions on selling the token. However, many were blinded by the potential for quick profits.

Why "Greatest" (in a Negative Sense)?

While not necessarily the largest rug pull in terms of monetary value, the Squid Game token scam arguably earns a place among the "greatest" due to:

  • High Visibility: Leveraging the immense popularity of a global phenomenon like Squid Game amplified its reach.
  • Rapid Gains: The speed and magnitude of the price increase lured in inexperienced investors.
  • Blatant Red Flags: Despite clear warning signs, many investors were caught off guard.

The Squid Game token rug pull serves as a stark reminder of the risks associated with investing in unregulated cryptocurrencies. It highlights the importance of due diligence and critical thinking before investing in any project, regardless of its initial hype.

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