About 3 years ago, before anyone had heard of it yet, I found this project while browsing forum sites on the internet and saw from the browser that I had earned first 1 thousand dollars, then 2 thousand dollars and finally 1 thousand dollars with pancakeSwap. I invested another $1k in a similar manner to TrustWallet.
When we came to the end, the $4,000 I left there turned into $70,000, but since this project was RugPull, I lost my money.
The developments in cryptocurrency inspired by Netflix's popular South Korean series Squid Game have brought a new fraud to the agenda. The cryptocurrency, which suddenly rose above $2,800, erased all its gains. The website is no longer online and the social media accounts promoting the token have also disappeared.
The price of Squid, which markets itself as a "play to win" type of cryptocurrency, has risen rapidly in recent days. However, Squid was criticized for not allowing users to sell back the money they purchased.
According to tech website Gizmodo, Squid's developers earned an estimated $3.38 million (£2.48 million).
"Play-to-earn" cryptocurrency refers to where people buy coins to use in online games and earn more coins that can then be exchanged for other cryptocurrencies or national currencies, the BBC reported.
Its creators claimed that Squid Game games would be played online on the platform to be created with the Squid cryptocurrency. According to the announced project, the winner would receive 90 percent of the money collected in the competitions, and the developers would receive the rest.
Squid, which bills itself as one such cryptocurrency, was trading for just 1 cent last Tuesday. In less than a week, its price rose above $2,856.
Cryptocurrency data site CoinMarketCap now shows that its value is now down 99.99%.
Be careful when making your investments, read the projects, and also check the contract addresses.
