When something becomes as popular as Netflix’s Squid Game series did as quickly as it did, people will try to take advantage of it for personal gain. That has been the case with the Squid Game cryptocurrency that’s has been gaining attention all across social media.
The coin was featured on BBC, Business Insider, Yahoo, CNBC, Bloomberg, and dozens of other “reputable” publications.
Squid Game’s boom and bust reveals another side of the crypto frenzy: The potential for demand to suddenly dry up, or worse, for developers to abandon a project and abscond with the funds in a scam known as a rug pull.
The project is supposed to feature games like the ones in the show, with users paying to enter with the squid token. The Squid Game coin had topped $2800+ per coin according to Coin Market Cap data but is now trading for under $0.002.