It is not uncommon for crypto tokens to experience sudden price fluctuations. But Squid Game’s token collapsed in what appears to be a scam.
Inspired by popular Netflix TV Squid Game, Squid Game token had a huge rise since its launch. The Squid game token had collapsed on Monday within two weeks after investors began buying the tokens.
The crypto coin was being traded at $2.85 with a market capitalization of over $175 million right before its collapse. Now the value of the token has gone down and all the website and social media accounts have disappeared.
The squid Game token was launched on October 20, and the cryptocurrency was said to be a pay-to-play token to play an online game.
CoinMarketCap also had issued a warning that there were multiple reports of users not being able to sell their Squid game crypto tokens through the exchange Pancakeswap.
Source: Republic World