Recently, Squid Game Token became the center of attention after another steep collapse, revealing a fraudulent 'rug pull' scheme.
What Happened Now?
A fake Squid Game token was recently launched on Base, as warned by PeckShieldAlert. The scam was evident when the token's price plummeted by 99% from $0.1442 to $0.0000000000001269.
Dangers of Cryptocurrency Investments
Cryptocurrencies, especially those tied to popular trends, can attract attention despite lacking real value. This case highlights the importance of doing your own research and warns against making decisions driven by fear of missing out.
Lessons from the Past: The 2021 Case
In 2021, a similar fraud with Squid Game Token caused its value to crash from $2800 to near nothing after developers executed a 'rug pull'. This case serves as a reminder of the high risks and unpredictability in the crypto world.
The Squid Game Token incident underscores the need for a cautious approach to investing. It's crucial to exercise care and not just follow the crowd chasing quick profits.