Do you remember the SQUID Game Token rugpull? A token that went from couple of cents to $3100 in a week, before falling to zero in a matter of seconds. It is perhaps one of the best examples of what hype, a little bit of media coverage and mostly greed do

A cryptocurrency inspired by the popular South Korean Netflix series Squid Game on November 1, 2021, became the most hyped digital token when its valuation shot up to $2,861 per coin.

It is possible one of the fastest, if not the fastest, rugpull in crypto history. In matter of a week, scammers escaped with around $3 million.

Using the popular Netflix show, a poorly made website with bunch of errors, typos, a whitepaper that was also filled with errors, typos and mistakes, going on BSC - Binance Smart Chain - scammers succeded in giving people hope that they are earning a lot of money, before taking all of it with them.

They were listed on Pancakeswap and have some poor liquidity on 26th October. Over the weekend the price went up to $38. In six days it kept going up mad, hitting ATH of $3100 and then it just went down in a matter of seconds.

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If anyone wonders what does it look like when you are being rugpulled and how a price goes down in a matter of seconds you should reallycheck out this reaction of a streamer that caught it live .

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https://preview.redd.it/gr5ijf0bf2fb1.png?946&format=png&auto=webp&s=c2409e9339161b44b40ca10cb039680e69a0aab4

They lured a lot of clueless investors, who were I guess too lazy to DYOR, giving them an idea that they can earn millions or billions and take it all with them if they win in the game - like in the show. The idea was that people will be able to earn SQUID by playing the game, they needed some SQUID to register before the tournament started.

The whitepaper noted that they implemented anti-dump mechanism like in BTC, and that users have to collect some "Marbles" in order to sell SQUID, without explaining what is Marble, and how do you get it. Crazy huh? People didn't care. Still invested.

The scammers were tracked, but never caught. The website went down, telegram channel where they stated that "someone is trying to hack them, and their smart contract, Twitter account aswell" etc.

People would watch the price going up, without being able to sell it in any way.

People who invested were too fast, without checking any facts:

- investors were publishing that they were unable to sell, no matter of the price
- website was poorly done, filled with errors
- whitepaper was also poorly done, same as the website
- the founders were using Netflix game, but stayed anonymous
- their Twitter account was restricted "due to unusual activity" - a big red flag

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