The second season of the popular Netflix series "Squid Game" has generated an increase in the number of cryptocurrency tokens named after the series. However, the community has raised alarms, warning that these tokens could be scams or frauds.
According to a report from Cointelegraph, the blockchain security company PeckShield has identified several Squid Game tokens as fraudulent. These tokens are actively circulating on networks such as Base and Solana and have been promoted on platforms like X.
A particular token on the Base network has been highlighted by PeckShield, where the implementer is the largest holder and its value has plummeted by 99% since its launch. This suggests that the tokens are concentrated among a few individuals who could sell their holdings once others invest.
The community has also warned about the lack of transparency and the potential manipulation of the prices of these tokens. This has raised concerns about the safety and stability of the cryptocurrency market. The Squid Game tokens represent a new threat in the world of cryptocurrencies, alerting to possible scams and frauds, and investors should be cautious when investing in crypto tokens.