Squid Game-inspired token plunges from $2,856 to near zero in minutes

The price of the SQUID token, launched inspired by the popular Netflix series “Squid Game”, plummeted within minutes from $2,856 to $0.005.

The project’s Twitter account and website are down. As Gizmodo reports, all signs indicate that the creators carried out an exit scam and withdrew user funds from the protocol.

According to the contract address, SQUID tokens have been purchased by more than 41,000 users.

Earlier, as the asset’s price rose, users reported that they could not sell SQUID on PancakeSwap.

Also suspicious was the lack of information about the team, the domain age (registered only on October 12, 2021), and the inability to comment on the project’s social media posts.

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