Binance Is Now Investigating the Squid Game Crypto Scam
Lucas Ropek 1 day ago

The news comes shortly after the token experienced a meteoric rise and swift market crash that saw investors lose millions of dollars—a surefire sign that the whole thing was a giant fraud.

“Our security team has launched an investigation - as a gesture of goodwill - and is exploring options to support the community,” said a Binance spokesperson, when reached for comment by Gizmodo. They added that they would be “blacklisting addresses to prevent withdrawals from Binance accounts linked to the scam and deploying blockchain analytics to identify the bad actors.”

“The Binance Investigations Team will be providing their findings to law enforcement in the appropriate jurisdiction,” they said.

SQUID launched less than two weeks ago and quickly drew immense interest—skyrocketing over 2,000% in market value in a matter of days. The token is, of course, based on the hit Netflix show, which is set in South Korea and involves a sadistic “battle royale” wherein debt-ridden participants play lethal kids’ games for a chance to win billions of won (Korea’s currency).

The coin’s protocol was built on the Binance Smart Chain (BSC) and was launched by unknown developers who promoted it by putting out a poorly written “white paper” as well as a constellation of social media accounts designed to push the coin.

About a week ago, Gizmodo pointed out that SQUID was obviously some sort of scam. The fact that investors could put money into the coin but couldn’t get any money out again was the most obvious sign of shadiness. A few days later, the whole thing collapsed in what appeared to be a classic “rug pull”—a type of exit scam wherein developers of a crypto project will suddenly abandon it and elope with investors’ money.

The coin hit a market zenith of some $2,860 on Monday, then subsequently plummeted to zero. Afterward, several of the coin’s social media accounts went dead and the developers put out a statement on Telegram claiming they were stepping back from the project. They appear to have made off with some $3.4 million in investor funds.
https://www.msn.com/en-us/news/technolo ... ar-AAQkvUv

Netflix seem to be actively recruiting for Season 2 of their new reality show..

Can't get my head around crypto trading, when I try to read up on it, my understanding is it's someone's fictional coin your supposed to invest in, has anyone made some real hard cash out of it by selling thier crypto coins?

atst wrote: ↑Sun Nov 07, 2021 3:18 am has anyone made some real hard cash out of it by selling thier crypto coins?

...All of us.
What, you didn't get the memo ?

I mean, who the fuck has that amount of time to be on CEO that often anyway ?

Sent from my yacht