Register for your free account! | Forgot your password?


Go Back   elitepvpers > News & More > User Submitted News
You last visited: Today at 16:24

  • Please register to post and access all features, it's quick, easy and FREE!

Advertisement




The Biggest Squid Game Scam Just Happened...

Discussion on The Biggest Squid Game Scam Just Happened... within the User Submitted News forum part of the News & More category.

Reply
 
Old   #1

 
elite*gold: 420
Join Date: Mar 2020
Posts: 551
Received Thanks: 152
The Biggest Squid Game Scam Just Happened...

Squid Game is one of the most popular Netflix show ever made. Everyone know squid game, there are people in the andromeda galaxy that knows about squid game right now, in fact I think in some parts of Pluto it might actually be a religion, they might have a bible down they might actually be playing some real squid games or might even be a rite of passage but ladies and here on planet earth all right, Squid Game is not only popular but it's been turned into a cryptocurrency and NFTs. Who'd have guessed right?


Another day, another cryptocurrency scam.

But SQUID had a twist.

The cryptocurrency was based on the hit Netflix series Squid Game and received a slew of mainstream press coverage as a result.

Alas, early this morning, as the crypto peaked at more than US$2,800, the anonymous creators of the cryptocurrency decided to cash in. They sold off their holdings, shut the project's website down, and made off with millions. Because the founders held the vast majority of SQUID, their sell-off tanked the value of the coin, rendering it worthless.

SQUID launched with a pre-sale on Oct. 20, priced around just over a penny. SQUID's price skyrocketed throughout the past week, hitting close to US$40 over the weekend.

How much is SQUID worth now, after its founders pumped it into the thousands and then sold it off? It's currently sitting around US$0.005. Even the pre-sale buyers, who purchased it at its lowest price, lost money.
Again, this is not new in the cryptocurrency world. The scam is commonly known as a "rug pull."

A rug pull is when the developers behind a new coin pump it as quickly as possible with the intent to immediately cash in their large holdings. With no more liquidity, the crypto tanks and everyone else's investment becomes worthless. The developers basically run off with investors' money.

Mashable has covered rug pulls before, specifically the large number of social media influencer-promoted crypto scams that took off over the summer. However, SQUID was able to generate a lot of mainstream press coverage, something even most of the influencer-backed crypto scams failed to do.

As Gizmodo points out, news outlets such as CNBC, Forbes, BBC, Fortune, and Business Insider, all ran stories last week about SQUID. "Squid Game cryptocurrency rockets in first few days of trading" read BBC's headline. "'Squid Game' crypto is up more than 86,000% in a week" said Fortune's.

While most coverage did mention some red flags, it was often tucked away several paragraphs down in the piece. The average retail crypto investor is looking to get rich quick, and may have purchased SQUID after just reading the headlines.

To those who have seen rug pulls before, however, SQUID was always an obvious scam. Its domain "SquidGame.cash" was registered shortly before launch. The use of Squid Game was completely unauthorized and it had no official connection with Netflix. Its social media channels, on services such as Twitter and Telegram, restricted users from replying or even taking part in a conversation.

Cryptocurrency price-tracker CoinMarketCap even warned users right on the listing that investors were having trouble selling their SQUID for real money.


In fact, this wasn't a bug. This was a feature. The anonymous founders said they had built an anti-sell-off mechanism into the cryptocurrency. It was sold to users as a way to stop large investors from pumping and dumping the coin on their own. If users really wanted to cash in, they had to invest in another cryptocurrency called Marbles token, which they could then swap with SQUID to sell. As investors attempted to do this, the trade-in price to swap SQUID for Marbles quickly became a loss.


And if you're wondering what happened with Marbles...it also turned out to be a rug pull. Its price was pumped and dumped this morning and its website has been taken offline.


SQUID wasn't a case of a bad investment. It was a scam from the get-go. One that major media outlets carelessly promoted.

While a second season of Squid Game hasn't officially been announced yet, there is a good chance we'll see more crypto scams like SQUID in the future.
debug_ is offline  
Old 11/18/2021, 18:55   #2
 
elite*gold: 0
Join Date: Nov 2021
Posts: 23
Received Thanks: 6
Very interesting news
Vinny#2947 is offline  
Reply


Similar Threads Similar Threads
[BIGGEST]Shiro2-Store [BIGGEST]
06/30/2013 - Metin2 Trading - 19 Replies
hey leute das was ihr alles seht kostet NUR 25 euro psc . alles zusammen auf wunsch gibts ein 72er wasu mit klinge P und Furcht P dazu ! http://i.epvpimg.com/P4Ced.jpg http://i.epvpimg.com/deTMc.jpg http://i.epvpimg.com/U7NBf.jpg
[Biggest] Steam Shop [Biggest]
05/28/2011 - Steam Trading - 57 Replies
http://www7.pic-upload.de/20.05.11/jpn6z9xn71q.png http://www7.pic-upload.de/20.05.11/wiztktuwaeog.p ng http://www7.pic-upload.de/20.05.11/erylgmaonfna.p ng http://www7.pic-upload.de/20.05.11/x2ewvfh1g76.pn g http://www7.pic-upload.de/20.05.11/fad8a9bdz8i.pn g http://www7.pic-upload.de/20.05.11/5fu3bkta4db5.p ng http://www7.pic-upload.de/20.05.11/qnse354xdlm4.p ng http://www7.pic-upload.de/20.05.11/ftasleof419q.p ng http://www7.pic-upload.de/22.05.11/es6mi9hfffg.jp g...
[SUCHE]Fertige squid.conf für Root-Proxy
04/17/2011 - Metin2 Private Server - 2 Replies
Hallo, ich suche hier eine fertige squid.conf(sodass das Proxy über Proxyfier funktioniert) zu dem Tutorial "How To Eigener Proxy " von Dauni, da es bei mir nicht funktioniert mfg Zander PS: Hier der Threadlink http://www.elitepvpers.com/forum/metin2-pserver-gui des-strategies/377534-how-eigner-proxy-root-gm-rec hte.html mfg Zander
IPFW Firewall + Squid
04/17/2011 - Metin2 Private Server - 2 Replies
Hi Leutz, hab ma ne Frage...hab IPFW Firewall auf Freebsd drauf alles so eingestelt das nur eine IP drauf kommt und wollte jetzt Proxy für alle freigeben. Läuft ja auf Port 3128 und wird irgendwie durch Port 80 weitergeleitet oder? Wie kann die passende Rule dafür aussehen? Vielen dank im vorraus
Squid mit Benutzerauthentifizierung?
07/29/2010 - Metin2 Private Server - 2 Replies
Heyho leute! Weiß jemand wie man bei Squid eine Benutzerauthentifizierung einrichten/mit installieren kann? Wenn ja dann schreibt es mir per PN :D Und kommt mir jetzt nicht mit diesen ganzen google links, habe mich jetzt schon 3 Tage durchgelesen und nichts funktioniert, Die Ordner/Dateien in den Tutorial's sind nicht vorhanden usw.



All times are GMT +1. The time now is 16:24.


Powered by vBulletin®
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
SEO by vBSEO ©2011, Crawlability, Inc.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Support | Contact Us | FAQ | Advertising | Privacy Policy | Terms of Service | Abuse
Copyright ©2021 elitepvpers All Rights Reserved.