A series of cryptocurrency tokens bearing the name “Squidward Games 2” have flooded the market following the show’s launch on Netflix on December 26. According to foreign media reports, these tokens may be involved in fraudulent activities or “carpet pulling” schemes.
Warning Signs of Potential Scam
Blockchain security company PeckShield has identified one token issued on the Base network as being centrally held by its distributor, with its price plummeting by 99% after listing. Similar tokens have also appeared on the Solana network, raising concerns of manipulation by a small number of holders.
History of Similar Scams
This is not the first time a “Squidward Games” token scam has occurred. In 2021, a similar token saw its price soar by over 45,000% before being confirmed as a scam due to its inability to be traded.
Investor Vigilance Advised
Investors are urged to exercise extreme caution when dealing with crypto assets related to popular film and television works to avoid unnecessary losses. The cryptocurrency market can be volatile, and investors should prioritize thorough research and due diligence before making any investment decisions.
Disclaimer
This article is for informational purposes only and does not constitute investment advice.
Source: Panewslab.com
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