After the success of the series Round 6 da Netflix, known as the “Squid Game” in its original name, several tokens have emerged to take advantage of this wave and apply scams to cryptocurrency investors.
This is the case of the $SQUID token that despite showing an appreciation of 391% this Friday (29), several users claim that they cannot sell their coins, which is the main reason for the rise.
Another project related to the SQUID token has even had its Twitter account suspended, as well as several other red flags indicating that the project is a possible scam being applied to investors in the cryptocurrency market.
Cryptocurrency scam called Squid Game
In addition to using scenes from the series on its page, trying to impersonate a real Netflix product, the page also tries to deceive users by mentioning Elon Musk’s tweets about the series, taken out of context to say that the billionaire would be promoting this token that, in True, it’s a scam.
Another sample of bad character can be seen in other examples, such as the quote from a tweet by the CEO of Binance about the series, again taken out of context so that potential victims think it is the promotion of this token.
According to their whitepaper, a mechanism called “anti-sell” prevents users from selling their tokens freely, imposing rules that cause the token to have a shallow appreciation as $SQUID holders fail to make profits.
Users of BscScan, a site designed to track transactions on Binance’s network, warn that the token is a scam, as well as claiming that 90% of followers on their social networks like Twitter, Discord and Telegram are actually robots. Despite this, some insist on defending criminals.
About social networks, your page on Medium is already unavailable. In addition, the creators of this token also created another token called Marbles Finance, another scam, whose Twitter is already suspended.
This may be another case where most victims are actually accomplices. Through comments we can see that some people are defending the model adopted by the developers.
“Keep BUYING… Keep going to the moon… Hoping to get to $456.”
This is another warning that you must do some research on your own before purchasing any cryptocurrencies or tokens, even when associated with a hit streak. Many of them are just scams intended to take your money.