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Scam Alert: Scammers Use Top Netflix Show ‘Squid Game’ to Perform Crypto Rugpull
The crypto space is no stranger to scams and rugpulls, but the latest incident is particularly egregious. A group of anonymous developers created a cryptocurrency project that skyrocketed in value by 5,000% in just one week, peaking at an astounding $2,856 per unit. But what seemed too good to be true turned out to be a massive scam.
The developers’ lack of transparency and clear communication with the crypto community raised red flags from the start. Their official website and social media channels were full of grammatical errors, which only added to suspicions. However, the project’s rapid growth in value was enough to attract thousands of investors who couldn’t resist the promise of easy profits.
Tragically, on November 1, 2021, the rugpull occurred, with the developer team withdrawing more than $3 million from investor funds and leaving the token’s price plummeting almost down to zero. The website and social media accounts were then deleted, leaving investors and holders with massive financial losses and no hope of recovering their money.
It’s a stark reminder that in the crypto space, nothing is certain until it’s confirmed by official sources. Always be cautious when dealing with new projects, and never invest more than you can afford to lose.
Yuri Molchan
Source: u.today
