A fraudulent ‘Squid Game’ (SQUID) cryptocurrency on the Base blockchain has collapsed by 99%, now valued at just $0.0111. Scammers exploited the excitement around ‘Squid Game’ Season 2, mimicking a storyline where Player 333 admits to orchestrating a crypto scam costing victims 15.2 billion won ($11.5 million).
The token falsely claimed ties to the Netflix series, enticing investors with promises of exclusive gaming access. After a brief surge, a “rug pull” wiped out its value, leaving many investors in financial ruin. This marks yet another cautionary tale in the volatile world of crypto.
Investors are urged to verify projects thoroughly, as scammers continue to exploit pop culture for fraudulent schemes.
