Here’s another example of the highly volatile world of crypto – the squid game, or SQUID, the latest memecoin sensation, which surged more than 230,000% to $2,861.80 in the past week, according to CoinMarketCap pricing — reportedly falling 100% to less than half a percent as of Monday in New York. According to Wallet Activity, it is being alleged that the developers of the game have unearthed approximately $2.5 million. bnb After using Tornado Cache. tornado cash The site is used to hide transactions in order to ‘clean up’ stolen funds on the blockchain. The game’s website, Twitter and other social media platforms have also been taken down.
Squid is based on the Squid game TV show which recently became the most popular show on Netflix after its release in October. The token is known as a ‘play-to-earn’ cryptocurrency, where people buy tokens to play games on the platform. A large number of investors jumped on the token after it launched and played the game on October 27th.
warning signs were many
CoinMarketCap reportedly posted several warnings, one of which said it had received “multiple reports” that users were not able to sell the tokens. pancake swap, a decentralized exchange. In another notice on $SQUID’s token page, it told users that the coin could be a ‘honeypot’ scam.
Crypto YouTuber, Quinton François posted a warning against crypto. He called on adulterers to be careful in a tweet, saying to always beware of memecoin frens. A few red flags: Comments are not allowed on Twitter; no (public) team; no roadmap; Don’t sell any options in the contract and more…”
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