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Squid Game Token on Base Blockchain Loses 99% Value: Investors Beware
In a shocking turn of events, the Squid Game token, launched on the Base blockchain, has plummeted in value by an astonishing 99%. This drastic decline has left many investors reeling and warning others to exercise extreme caution when engaging with cryptocurrency deals.
According to reports from PeckShield, the token manipulated the “Squid Game” name, which was recently used in a launch on the Base blockchain. Unfortunately, this move has resulted in significant financial losses for those who invested in the project.
The situation highlights the importance of rigorous due diligence and fact-checking before investing in any cryptocurrency venture. It is crucial to verify the authenticity of tokens and ensure that they are not fraudulent schemes designed to deceive investors.
In this case, it appears that the largest holder of the token, the deployer, may be responsible for this drastic decline in value. This serves as a stark reminder that even well-known names or brands can be manipulated and used for nefarious purposes.
Investors are advised to be vigilant and conduct thorough research before investing in any cryptocurrency project, particularly those with suspicious or unverifiable information.
Source: coinpedia.org
