Cryptocurrency Isn’t The Future –  It’s Reality

Cryptocurrency Isn’t The Future –  It’s Reality

$ 12 Million Dollar Scam- Squid Game Cryptocurrency Collapses

Squid Game Scam SQUIDTOKEN SCAM
Image use licensed @pafako via Twenty20 by Evanto Elements

Before We Start Lets Distinguish Between SQUIDTOKEN Scam And SGUIDGAMETOKEN

SQUIDTOKEN is what this story is about and is the Squid Game Scam in question.

SQUIDGAMETOKEN (SGT) n the other hand, is NOT a scam and is listed on Coinmarketcap

I have written a few stories involving hackers, scams, crime and in the cryptocurrency world, this Squid Game show inspired cryptocurrency scam is another example of how scammers and criminals alike can and will take advantage when given an opportunity. I have no doubt there will be a long list of scams in the future to come.

I can’t stress enough how important it is that, new and seasoned investors and the general public become knowledgeable in what a reputable originations would ask in an email and how to keep all our information and assets safe so and not become another victim of hackers, criminals and scammers.

This original story was originally written by Lauren Aratani and published by the on Mon 1 Nov 2021 13.02 EDT. I have taken sections and added my editorial. I hope you enjoy and take away a thought or two, maybe some conversation bits over coffee with a friend.

The value of a cryptocurrency inspired by the popular Netflix series Squid Game collapsed on Monday less than two weeks after investors could start buying tokens.

What is the point of Squid Game TV Show And Does It Relate to the Squid Game Scam?

If you haven’t watched the Netflix series, Squid Game made in South Korea, here’s my short synopsis and then back to the scam.

Netflix squid game
Creative commons wikipedia.org/

Just like real life, the fictional world depicted in Squid Game takes you into the life of desperate ( so many of us in real life are) of Seong Gihun, broke, divorced and living with his mother. He desperately needs money, for everything. 

Through some events ( I won’t go through the entire Squid Game show, way to much. Watch the show, you’ll be entertained, and disturbed) he finds himself on an island with hundreds of folks just as desperate as he is.

Long story short, what would you do? How far would you go to get all the money and more to pay all the things you need to pay for and have no worries afterwards? Would you kill? Some have gone deeper to say that the show was about the inequality of distribution wealth in the word. What is it you ask? Ok, here goes , "Top 1 percent of households own 43 percent of global wealth" – source Visusalcapitalist

The Guardian reports that after jumping more than 310,000% in value as of Sunday night, Squid lost all its value after Twitter flagged the cryptocurrency’s account and temporarily restricted it due to “suspicious activity”.  (eyecoops-I checked twitter and as of November 2 2021 at 11 PM the account was still restricted.)

Right before its collapse, the token’s value had spiked to $2,856. The token’s website and social accounts have disappeared, along with a white paper describing Squid. (eyescoops- it is estimated the scammers may have run off with over 2 million dollars worth of investors money.)

The token was made available for purchase on 20 October with the idea that the cryptocurrency would be a pay-to-play token to play an online game, inspired by Squid Games, the hit series in which heavily indebted people play deadly versions of children’s games to win cash…. more

Red Flag indicators For Seasoned Investors And New Investors

Something was not right with SQUIDTOKEN. I can’t confirm anything now, as all traces of SQUIDTOKEN, it’s website, whitepaper and social media accounts have vanished. Their whitepaper had spelling errors.

That is one big red flag for me, spelling and sentence structure errors always scream scam and hacker to me. Sure maybe one error, I get that. Any self respecting entity would catch on to errors and fix them asap, in my opinion. The website reportedly did not have a professional look, not like what we are used to seeing with reputable ICOs, Coins and Tokens like the Shiba Inu Token.

I show You how To Make Huge Profits In A Short Time With Cryptos!

Shiba Inu Token, also has taken off causing all sorts of speculation of wealth, non of it even remotely moved my eyebrow up, nor did I stare with concern out the window from the kitchen chair as I first read about the token as I sipped my morning coffee.

With all this it’s still easy to get scammed. The scammers are cleaver and sometimes we put up up blinders when we want to believe, even when in the back of our minds we know its to good to be true.  

CNBC reports an investor in Shanghai lost $28 thousand dollars, the victims life savings and another anonymous victim lost $5 thousand, as reported by Coinmarketcap. Will Squid Game scam investors get their money back? Sad truth but a reality, no, Probably not.

I think all the hype of the TV show help the scam token, SQUIDTOKEN take hold, the popularity of it. But then why, hasn’t the the real THESQUIDGAMETOEKN ( not a scam token) not taken off in popularity? What do you think that is? Comment Below, lets start a conversation!

As A side note, during my research I cam across another Squid Game inspired token, and not realted to the Squid Game scam. This one is called The Squid Game Protocol and can be found on Coinmarketcap

Some final thoughts…

I have reached out to both SQIUDGAMETOKEN and Squid Game Protocol for comment, If they comment I will update this post so please subscribe to my newsletter. Not only will you be notified of posts and updates but you will be entered into my RANDOM Cryptocurrency Giveaways. Subscribe here

Governments all over the world are starting regulate cryptocurrencies and crypto exchanges, maybe it shouldn’t be so easy to just set up shop as a new ICO and offer a coin or token. And some countries still think they can control crypto with out letting it take its course like China. What are your thoughts? Comment below!

  1. Be very carful and do you own research on any coin, token and ICOs you want to invest
  2. Invest only what you can, don’t gamble on anything ( ok I gamble, a little, by that I mean I’ll though $50 in and see what happens, no big investment. No problem lol)
  3. secure your assets in a wallet you control
  4. backup your wallet and secret keys and never share your secret keys
  5. Never click on a link from anyone in your email, no matter who its from. Always go to the website from your your browser and login there.
  6. REMEMBER no one from ANY website will ever ask you for YOUR PASSWORD in an email or anywhere else for that matter!  DON"T DO IT!
  7. And lastly……

This Has Been True From The Beginning Of Time

If it looks to good to be true, it probably is!

Leave a Reply

Your email address will not be published. Required fields are marked *

I show You how To Make Huge Profits In A Short Time With Cryptos!

Join My newsletter!

All subscribers who also follow me on twitter are automatically entered into my free crypto coin random draws!

Get post & contest updates