Squeed coin movie#

But before sinking our teeth into this scam, let us go over two of the basic terms here.

The real tragedy is that, by most measures imaginable, this coin was a rather blatantly suspicious enterprise that had all the obvious trappings of being a scam and yet, for whatever reason, people still brought into it. Now, the tragedy of what has happened or allegedly happened in the case of the SQUID coin is not the fact that this is yet another crypto scam that serves to vilify the emerging cryptocurrency movement. Crypto traders should be more careful when getting into cryptocurrency investment schemes they should do thorough research.As many ‘crypto gurus’ are fond of pointing out, crypto scams are a dime a dozen, particularly when you start moving into the absurdity of meme coins and now ‘game coins’ such as SQUID. There are alternative altcoin and legitimate “shitcoins” to make up for the loss incurred. We’re still in a Bullish season, and November’s price prediction is $98,000. There’s still light at the end of the tunnel. Truly, the Squid coin Rug pull is the greatest of all time. The coin now sits at $0.08337 with sad investors. The investors used a blockchain to hide transactions movements from the Wallet Tornado cache hence the BnB cash out was untraceable. The creators cashed out the $5 billion and left investors helpless and with the no use-case coin. Sad Aspiring BillionairesĮasy come easy go The Squid Coin creators woke up on Monday and flipped the off switch. Netflix neither made any public announcements or associations with the coin, a company that takes pride in advertising everything before time. The crypto markets can make anyone a billionaire overnight, so it was worth attempting, especially after the three-day massive pump. Who in their right mind would get into an asset screaming no cashouts? The truth is, we’ve all been victims here and there, and we cannot blame anyone.

The biggest red flag was the “no-cash out” option. The Twitter account was equally the same and kept encouraging investors by informing them how the creators evaluate their value and love. The key message was encouraging users to join in the hype. The website, which is deactivated for now, has grammatical and spelling errors.

Squeed coin movie#

We suppose that the movie blinded millions of fans who jumped into the game without cross-checking its social media sites. Squid Coin is designed as a “play-to-earn” cryptocurrency, just like Axie Infinity, where crypto traders buy tokens and play games within the crypto metaverse to increase wealth. They made away with $4.3 billion of investor money. It is fitting to say that the developers used insights from the movie to play a game on crypto investors. Seizing this opportunity, developers decided to create a coin with the name “ Squid Coin,” knowing that everyone would assume the currency is of a Netflix origin, who intend to promote the movie further. Squid Coin Rug PullĪ recent movie release by Netflix with the name “Squid Game” became the talk of the internet. In the crypto world, developers create a cryptocurrency with no use case, hype the coin, and then massively cash out, for example, Squid Coin. Was the Squid Coin rug pull the greatest of all times? A rug pull is when investors come up with a faulty asset and sell it to people for money leaving the investors with the no use case value asset.