Scam warning! Squid Game Token (2021.11.02)

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I noticed Squid Game token 2 days ago from this post by @rsntpl.

According to CoinMarketCap, this token was worth $36.38 USD yesterday, but they already wrote the following red warning:

We have received multiple reports that users are not able to sell this token in Pancakeswap. Please do your own due diligence and exercise extreme caution. This project, while clearly inspired by the Netflix show of the same name, is not affiliated with the official IP.

Today the token went down to $0.003385 USD, losing 99.99% of its value. And there is another red warning on CoinMarketCap:

We have received multiple reports that the website and socials are no longer functional & the users are not able to sell this token in Pancakeswap. Please do your own due diligence and exercise extreme caution. This project, while clearly inspired by the Netflix show of the same name, is not affiliated with the official IP.

Seeing all of this, we can clearly say that the Squid Game Token is a scam.

And things like this are hurting not just/only the people, who buy these coins, but unfortunately the whole cryptocurrency industry too. Mainly its reputation.

So sad to see something like this.

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Original image from https://pbs.twimg.com, edited with Snapseed.

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scam cryptocurrency token squidgame squid leofinance palnet neoxian
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13 comments
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This was a clear Ponzi Scheme... and it's a Fork from another Ponzi (OHM). This one will probably have the same fate, when people realize how scammy it is. 🤭

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What is OHM? I found only Olympus (OHM), but that does not look like a scam. But the Squid Game Token (SQUID) clearly is. And according to this tweet, "the developers just ran off with millions".

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I'm sorry to inform you that Olympus DAO (OHM) is also a Ponzi Scheme.

screenshot_20211101_154419_twitter.png

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Then I am glad that I am not involved in it in any way.

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If you fell for this you don’t deserve to have money

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I did not. But unfortunately many people did.

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People shouldn’t jump into any coin because of trends, make deep research before venturing or buying any coin/token.

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yeap. agree with you.

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Lol "buyer beware" has little meaning in this world

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Yes. Squid Game went up to $0.0781 USD (+361.15% in the last 24 hours). Looks like many people have a lot of money to throw out of the window.

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People now have the guts to scam their fellow guys💔

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Unfortunately this is not a new thing. Various online scams are going on probably since the beginning of the wider availablity of the internet.

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