A mysterious squid game token has recently appeared on the Pancake Swap Marketplace. It may draw attention from its name, but it could turn out to be a fraudulent attempt to seduce fans of the series and make money from them. Is the trend of “squid games” inheriting the world of cryptocurrencies? In any case, the mysterious crypto asset project has reached a huge amount since it started on October 26th. Starting at a price of $ 0.012, it was worth $ 4.50 on Friday. As of Thursday, it recorded an increase of nearly 2,400% in 24 hours. So why is this cryptocurrency causing such a splash? The only reason seems to be the power of the “Squid Game” brand.
The recent Korean Netflix series, which is causing sensation all over the world, cannot be ignored. The plot focuses on deadly competition where the prize money is huge. To win, the player must participate in a child’s game, and failure is equal to death. This series breaks Netflix records around the world.
Potentially dangerous “cryptocurrency”?
However, be careful about this cryptocurrency. This cryptocurrency process has proven to be a bit vague. CoinMarketCap issued a warning because it realized that many users could not sell these tokens. reason? This cryptocurrency white paper outlines anti-dumping technology that prevents buyers from reselling coins if certain conditions are not met. This type of token is currently particularly popular in certain schemes, including creating value for the creator and keeping others high and dry. Such cryptocurrencies often have no clear, specific purpose and no specific new technology project. In short, they simply surf the success of trends and memes to gain value.
This particular token was launched as the exclusive payment method for the “Squid Game” project created by gamer fans. This is a platform that allows users to play and earn money in online tournaments and is called “play and earn”. The contest, which started in November, mimics the series by offering six games. The overall winner wins a total that has not yet been determined.
Warnings from CoinMarketCap have occurred in recent “squid game” related scams and malware, and cybercriminals are trying to lure fans. This cryptocurrency is not officially linked to the series.
There is a squid game cryptocurrency, but it can prove to be a dangerous investment
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