@scottcbusiness
Squid Game Token - The Ultimate Rug Pull
The show Squid Game has become one of the most popular television shows and with that hype were a bunch of crypto tokens that tried to cash in. One of them was Squid Game token, and it was a rug pull. https://lbry.tv/@ScottCBusiness:4/squid-game-token:e https://youtu.be/IiKgMZhY-q0 This situation may be one of the more significant rug pulls for 2021 aside from the Marc Cuban Titan by Iron Finance debacle. It went from about $2800 to ~$0 in about 1 second which was captured live by a Twitch streamer. It was a Binance smart chain token and like many others, it was a scam. I’m not saying BSC tokens are scams, but for most things that end up being scams, they tend to end up there in my experience. People were prevented from selling and the founder was able to sell everything and completely tank the price after less than a week from its inception. No wonder it was going up so much. The real concern now a week later is that there are more people still investing in it which you can see on Coinmarketcap: https://coinmarketcap.com/currencies/squid-game/markets/ This thread details several important BSC addresses and the owners deleting all social media channels: https://twitter.com/__tricck/status/1455083308702834690 You even have knock off coins trending and promoting their coins instead which is terrible: https://twitter.com/SquidGameToken/status/1455192521412423680 These two articles talk about the rug pull and how Binance began officially investigating it given it happened on their chain. I doubt they’ll find anything. https://cyberbump.net/squid-game-token-rug-pull-live-on-twitch-squid-2800-to-0-in-one-second/ https://www.bsc.news/post/binance-officially-investigates-squid-game-token-after-rugpull The takeaways are: 1. If it’s too good to be true, it is. 2. Don’t chase hype. 3. Look into coins and do your research. Did you invest in Squid Game token? Have you invested in any hype-based tokens? Have you seen Squid Game the show and did you enjoy it? Let me know what you think about this in the comments below and don’t forget to subscribe! ***Disclaimer: This is not financial advice and is purely for entertainment purposes. What you see, hear, or read is my personal opinion, and any statements made are based on my views and should not be misconstrued as fact. My crypto portfolio may or may not be simulated*** 👥 Support Me & Follow Me Elsewhere 👥 👉 http://www.scottcbusiness.com Ask questions in my Telegram: https://t.me/cryptoandthings You can find all my cryptocurrency addresses on https://cointr.ee/scottcbusiness You can find the rest of my sponsorship, referral, donation, and extra information here: https://read.cash/@scottcbusiness/sponsorships-referral-support-resource-f7efb629
11 comments
I haven't invested in the Squid Game token. I watched the actual show but was not able to finish it. I must say, investing to it just because of the hype of the show is off-putting. People must really research first to avoid rug pulls scams.
True, it was too good to be true. There's a lot of scam tokens nowadays.
Informative article
Its a sad reality
I was lucky enough not to get into it... I feel sorry for those who did.
I have seen the show and I enjoyed it but I'm just hearing about the token for the first time. No wonder it didn't turn out well for the token and people are too desperate to not do enough research before investing into any hpyed new crypto currency or token.
I don't get it why people invest their money on meme coins/tokens. Maybe that want to millionaire overnight. Some coin really grow out but most of them are scam like this. Thanks for the info and analysis.
No one reads crypto whitepaper everyone just gets FOMO and invests their hard-earned money. All they can blame is themself for being selfish.
this is something that is important and very valuable for me and for everyone, it's a mystery to me lately when I meet in an event and in sharing media like youtube. many describe the air drop by using the BSC address, I had time to think that whether this is real is not deceiving. it often doesn't make sense with this, the fee is indeed small but can this token work? it is true that this discussion is not all that uses the BSC network it is a fraud but we must be more vigilant. very useful friend this discussion was initially a mystery to me but now I understand. thanks
Very important lesson learnt, please always "Research Before Investing" can't believe these meme coins keep on scamming.
The reason why most people always cry in the end is because they always chase hype and they don't do thief own research before engaging on some certain coin... I wasn't even triggered to get involved in buying the token coz I know how it would end