Thursday, January 27

The Squid Game cryptocurrency was a scam | Digital Trends Spanish

The squid game series has been so successful that it even motivated the creation of a cryptocurrency.

In a few days, the value of the virtual currency grew by $ 2,400 percent, with this many thought that the cryptocurrency could replicate in the financial sphere the success that South Korean fiction has had in streaming Netflix.

However, suddenly, its value went from $ 2,861 to zero, causing surprise and concern on the part of those who had acquired it.

Thus, it was discovered that Squid (that’s what the cryptocurrency was called) turned out to be a fraud and this was confirmed once it became known that its creators had abandoned the project taking more than 3.38 million dollars from those who had invested.

Deception

The mechanism of this scam is well known and is that the creators suddenly sell all the cryptocurrencies taking advantage of the high value.

This kind of quick escape allows the currency to devalue immediately. In fact, before it was proven to be a scam, Squid was worth close to two million dollars, according to CoinMarketCap.

The cryptocurrency was launched just last week and included a number of signals that may have warned some users, including a barely three-week-old website full of spelling errors.

Of course, this site has disappeared along with any other social media presence created by scammers.

The currency also had a Telegram channel where no one outside the game could comment, the same on the Twitter account where messages were never answered.

Perhaps the clearest sign was that no one who bought the coin could sell it.

Many experts hope that this case will serve as an example to investors so that they can be more alert the next time they want to make a purchase of this type.

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