Victims of Crypto Squid Game, Chinese Citizens Lose Retirement Money

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This is the victim of Squid Game’s crypto malignancy, whose publisher claims to have gone out of business. A Chinese citizen claimed to have lost his pension of around US$28,000 or equivalent to Rp. 400 million.

As of Monday (11/1/2021), the crypto publisher Squid Game (SQUID) admitted that it would not continue this controversial digital currency project.

Previously, based on Gizmodo’s cyber media investigation, this crypto project was a scam. The reason is that crypto buyers cannot sell them at all.

“Someone tried to hack our projects today, from our Twitter accounts to our smart contracts. We discontinued this project, due to pressure from many parties, including the hack. We apologize,” the message on Telegram said.

As of Monday, the price per token was around the US $0.005506, down 99.98 percent in 5 minutes on November 1, 2021.

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Based on data on Coinmarketcap, the price of SQUID has actually increased by more than 300 percent in the last 24 hours, across the following exchanges, namely Pancake Swap and Market Dodo. In both markets, the SQUID trading pairs are SQUID/WBNB, SQUID/BTCB, and SQUID/WBNB.

Since last week, on that page, Coinmarketcap, which also belongs to the Binance crypto exchange, has labeled the cryptocurrency as a scam based on reports from many users on the Internet.

The crypto maker’s Twitter account has also been deactivated by the Twitter company, but old data can still be accessed on Coinmarketcap.

Chinese Citizens Lose Pension Funds Equivalent To IDR 400 Million

Reporting from CNBC, a Chinese citizen admitted that he lost his pension fund of around US$28,000 or equivalent to Rp. 400 million. He used the money to buy SQUID crypto because he was tempted by the extraordinary price increase.

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“I decided to invest in crypto, because crypto is promising for me, along with the popularity of the Squid Game movie. I know this is a shameful tragedy and I don’t know how to get my money back,” said the man, who gave his name as Bernard and lives in Shanghai, China.

Bernard also admitted that he had contacted the FBI and the Securities and Exchange Commission (SEC) in the US, hoping to find a solution to catch the perpetrators of this fraud.

He has also contacted the team behind this fake crypto project. He even contacted Binance’s Coinmarketcap, which lists the crypto information on its website.

Crypto Publisher Squid Game Rolls Out, Its Price Drops US$12 Million

Crypto publisher Squid Game finally announced that it had gone “out of business” on Monday (1/11/2021) on Telegram. Previously, Gizmodo confirmed that the crypto project in the name of the famous Squid Game series was a fraud.

“Someone tried to hack our projects today, from our Twitter accounts to our smart contracts. We discontinued this project, due to pressure from many parties, including the hack. We apologize,” the message on Telegram said.

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Finbold journalists interpret, it seems that this crypto issuer has deliberately withdrawn, so that investors’ funds are trapped in it, under the pretext of hacking and pressure.

Previously, the Squid Game-inspired token had surged more than 86,000 percent in a week, despite never having an official relationship with the Netflix series. The SquidGame.cash website can’t even be opened normally

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