"Squid Game Crypto Scammers Rip Off Investors for Millions"

Investors in the new cryptocurrency SQUID tokens have fallen for what cryptocurrency watchers call a classic “rug-pull” scam.  When SQUID tokens were first released last week, they were valued at  $0.01.  On November 1st, the price started escalating dramatically, but investors were blocked from selling SQUID by a so-called “anti-dumping mechanism.” Meanwhile, scammers cashed out, according to complaints received by CoinMarketCap. SQUID’s value peaked at $2,861.80 and dropped to zero within hours.  The victims lost around $3.38 million because of the scam.  All it took to keep investors from selling was a simple piece of code, researchers at PhishLabs HelpSyst4ems explained.  

Threatpost reports: "Squid Game Crypto Scammers Rip Off Investors for Millions"