Cryptocurrency Scam – How the Bad Actors Influence Affluent Investors

Squid game coin gone real bad

Do you ever ask yourself: why is this new currency being so widely accepted? What’s causing all of this hype, and should you join in the craze too?

There are many aspects of cryptocurrency that are dangerous. You can lose money if you don’t know what you are doing since the market and crypto adoption is still at a developmental stage and highly volatile.

 

A more in-depth look at the squid game token

Honestly, it is mind-blowing that some people still had the guts to invest in the squid game token even with the digital currency being based on the popular South Korean Netflix series Squid Game. 

If you have seen the series you will understand it was debt that led the characters to play the life-ending game. Well the squid game token might not have cost some of the investors their lives but it has definitely cost some their financial freedom and stability, i hope this won’t some investors who lost their money to go play the real squid game🤨🤔.

Squid, a play-to-earn cryptocurrency as tagged has seen its price explode in recent days, jumping by thousands of per cent. However, it was reprimanded for some following reasons like not allowing users to resell their coins as previously claimed, there were lots of typographical and grammatical errors on its website, the rate at which it rose was unbelievable, according to reports SQUID went up from 1cent to over $2,856 in less than a week.

It was shocking how the squid game coin(SQUID) entirely plummeted immediately it was discovered to be an obvious scam, after a 33,600 per cent surge last week. This triggered a warning and disclaimer from Coinmarketcap

A Twitter user name Charlie Bilello showed the rate and timestamp of how the squid game cryptocurrency dropped to zero, this also proves the coin is nothing short of being a scam.

This form of fraud is referred to as a “rug pull” by cryptocurrency investors. This happens when the promoter of a digital token recruits buyers, then suspends trade and takes the money from sales.

According to speculations, the inventors of Squid made away with an estimated $3.38 million of investors money🤯😰.

However, it was obvious that one of the main reasons the coin gained so much popularity is the general reception of South Korean Netflix series, the inventors leveraged on this to play on victim’s intelligence.

HOW TO AVOID CRYPTOCURRENCY SCAM 

Cryptocurrencies are extremely popular and it is not a rare thing anymore for people to make large amounts of money through it. Since most cryptocurrency transactions are anonymous, there’s a greater chance of scammers ripping off newcomers in this industry. Here I am going to tell you how to avoid cryptocurrency scams and make a good investment in cryptocurrency, click here to access the information

Conclusion

Many will regard this as evidence that governments should strive to regulate space.” No government, however, can control global activities. Cryptocurrency is self-regulating, and players should look for platforms that offer the greatest service when it comes to digital exchange. However, if I am able to influence your decision I recommend that you trade with the No.1 guide to digital exchange MYBTC NIGERIA

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