There are no more doubts now. squid, the cryptocurrency inspired by Squid Game, it's a pure and simple scam.
The (unofficial) digital currency was created a few weeks ago in the wake of the success of the popular TV series of Netflix, watched by over 150 million people worldwide. She was being passed off for a “Play-to-earn” cryptocurrency, i.e. a currency that could be used in online games where, by purchasing tokens, players can earn more and more virtual tokens. Not only that, in theory, it could also have been exchanged or converted into traditional currencies such as the euro and the dollar.
An idea immediately liked by many investors who decided to invest their money on Squid, immediately getting on board a project that according to many was destined for glory also for the possible imminent launch of a video game inspired by Squid Game. In a few days $3 million poured into Squid of investments and its value has grown from 1 cent to over $2.856. How much is it worth today? Zero, actually 0,03 cents to be precise. A collapse, according to what is certified by CoinMarketCap, of 99,99% which occurred in a few minutes.
What happened? Slang the phenomenon is called “rug pull”. Translated for the less experienced, we are talking about a scam in which the creators of the cryptocurrency, after having attracted buyers, suddenly stopped trading and disappeared with the money collected. “It is one of many schemes where naïve investors are lured and exploited by malicious cryptocurrency promoters,” he said. to the BBC Cornell University economist Eswar Prasad, explaining that, when investing in cryptocurrencies, buyers should be aware that there is almost no regulatory oversight. The scam could therefore be around the corner. Together with the money, the site and the various social accounts linked to Squid have also disappeared.
It must be said that the signs were all there, from the presence of grammatical and spelling blunders on the site to the impossibility of reselling one's own tokens after having purchased them reported in recent days by various buyers. But the popularity of the TV series and the desire to make money quickly seem to have prevailed over prudence. The result, unfortunately, is there for all to see.
