The script for the series "The Squid Game" turned out to be fraudulent. Scamers earned $ 2.1 million

Last week, the price of the SQUID altcoin rose from $0.01 to above $2.8 thousand.Users couldn't sell

It was due to this that the growth of theHowever, now, according to the CoinMarketCap website, the price of the SQUID cryptocurrency peaked at $2,861 and then fell to $0 around 1:40 p.m. on Monday.This type of theft, commonly referred to as rug pull by crypto investors, occurs when the creators of a cryptocurrency cash out quicklytheir coins for real money, depleting the liquidity pool from the exchange.

According to the address of the cryptocurrency contract, more than 40 thousand people have purchased it.At the same time, information about the impossibility of selling the altcoin was spelled out in the white paper. The archived version of the site can be viewed here. 

The SQUID crypto coin was launched just last week and looked unreliable, as Gizmodo notes .For example, the website was only three weeks old, and there were a lot of weird errors in the text.Other red flags include the fact that the SQUID Telegram channel, created by unknown scammers, did not allow the posting of comments fromAnd the Twitter account didn't allow anyone to reply to messages.

The biggest red flag was that no one who bought the coin could sell it.As Gizmodo notes, that hasn't stopped major news outlets like the BBC, Yahoo News, Business Insider, Fortune, and CNBC from publishing headlines about how the new cryptocurrency Squid Game soared 83,000 % in just a few days.

The project leaders promised to launch in Novemberonline tournament, which will consist of six rounds, similar to the games in the series. It was assumed that SQUID tokens would need to be paid to participate in the tournament. And upon its completion, the funds will be distributed between the developers and the winner in proportions of 10% and 90%, respectively.

Squid Game is a South Korean web series in the genre of survival, action-adventure, thriller and drama. All nine episodes were directed and written by Hwang Dong Hyuk.

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Photo source: Netflix

White paper (eng.white paper) is an official document informing the reader about a new technology, methodology, product or service being launched. White paper has gained great popularity during the ICO of cryptocurrency projects.