![]() ![]() This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales. ![]() This kind of scam is commonly called a “rug pull” by crypto investors. However, as the BBC reported, it was criticised for not allowing people to resell their tokens. Squid, which marketed itself as a “play-to-earn cryptocurrency”, had seen its price soar in recent days – surging by thousands of per cent. ![]() A digital token inspired by the popular South Korean Netflix series Squid Game has lost almost all of its value as it was revealed to be an apparent scam.
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