When the Squid Game token, a cryptocurrency inspired by the Netflix series Squid Game that promised high yields through a deceptive play-to-earn model. Also known as SQUID, it became one of the most infamous crypto scams in 2021—built on hype, not technology. It wasn’t a blockchain innovation. It wasn’t even a real project. It was a trap dressed up like a trend.
The creators used the popularity of the show to trick people into thinking this was a legitimate play-to-earn game. They promised rewards, locked liquidity, and flooded social media with fake trading volume. People rushed in, seeing prices jump from pennies to over $2,800 in days. Then, without warning, the devs drained the liquidity pool, vanished, and left thousands holding worthless tokens. The rug pull, a common crypto fraud where developers abandon a project and steal investor funds. Also known as exit scam, it’s one of the most dangerous risks in low-cap DeFi. And Squid Game was its most public example.
This wasn’t just about money lost. It shattered trust in airdrops tied to pop culture. After Squid, every new token claiming to be "the next big thing" based on a TV show or meme faced instant skepticism. The crypto airdrop scam, a tactic where free tokens are distributed to lure investors into a fake ecosystem before the collapse became a red flag everyone learned to spot. No community. No whitepaper. No team. No exchange listings. Just a name, a logo, and a promise.
What you’ll find in these posts are real cases like Squid Game—projects that looked promising but collapsed under scrutiny. You’ll see how token burns, fake liquidity, and anonymous teams turn into financial disasters. No fluff. No hype. Just the facts behind the crashes so you don’t get caught next time.
Famous crypto rug pulls like Thodex, Squid Game, and HAWK have cost investors billions. Learn how these scams work, who lost money, and how to avoid becoming the next victim.
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