Squid Game cryptocurrency scam, investers lose over Rs 15 Crore

 Squid Game cryptocurrency scam, investers lose over Rs 15 Crore

Netflix's hit show, Squid Game inspired Cryptocurrency value turns zero many people lose their money because it was a scam.

HIGHLIGHTS

• Squid Game cryptocurrency turned out to be a rug pull.

• Creators of the crypto took the currency off the exchange in just about two weeks.

• They are estimated to have made around Rs 15.3 crore.

Squid Game turned out to be a scam, after all. I am not talking about the blockbuster Netflix show that had the world hooked to it for weeks. I am referring to the eponymous cryptocurrency inspired by the series. The Squid cryptocurrency collapsed on Monday, but the hucksters who leveraged the popularity of the show managed to make off an estimated $2.1 million (roughly Rs 15.3 crore). After reaching a peak value of $2,861, according to CoinMarketCap, the currency tanked to just $0, and the investors lost all their money. Anonymous scammers made over $2.1 million before shutting the crypto project.

The SQUID crypto coin now trading at $0.003203, as reports CoinMarketCap.

The developers behind the crypto project have left the project after the price of its affiliated token crashed to nearly zero.

They claimed on its official Telegram channel that its developers do not want to continue running the project due to the stress of dealing with scammers.