People Are Still Buying Bogus SQUID Token Despite Scam Allegations

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Infamous Netflix TV series Squid Game-inspired token SQUID is under fire among the crypto community due to allegations that it’s an alleged scam.

The fact that the founders’ information on the project’s official website is allegedly fake and that it claims to have inexistent partnerships with the streaming giant and Microsoft raised concerns about a fraudulent scheme. Even so, all the names of the listed founders on the site don’t appear on LinkedIn, which are also claimed to be well-known executives in the industry.

Red Flags

Also, the SQUID token plummeted to zero levels after pocketing 75,000% gains to reach levels around $2,800, having a daily trading volume of over $7 million during October 29.

However, holders could not sell their tokens on PancakeSwap, the only decentralized exchange where the crypto was listed, and even CoinMarketCap had to issue a warning note, cautioning people on the several reports about an alleged…

Read full article at finance.yahoo.com