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Recently, Squid Game, a Netflix special show from South Korea broke all the records and became world famous with thousands of memes and millions of people talking about it. Various installments of props from the movie have been made for entertainment purposes around the world. Amidst this, SQUID coins were released over the internet with the makers claiming it to be endorsed and marketed by Netflix itself. Even though none of this came from the official pages of Netflix, people quickly believed that the Squid game inspired SQUID coins and bought it. Find out what happened next by reading the full SQUID coin review.
What really happened?
Just when the fan count of Squid Game increased by uncountable measures, the financial market witnessed the entry of a new cryptocurrency coin by the name SQUID coin. Although various red flags were already present since the start of this coin, people somehow believed in it and purchased the SQUID coin valued at $2,850 per coin. This digital currency was traded on the platform called Pancake swap on the 26th of October. Just a few days later, CoinMarketCap published a statement saying there was something wrong with SQUID coin and none of the promoters or makers of this digital currency could be reached. Soon, the problems started pouring in as the innocent investors were unable to sell their SQUID coins.
Why did this happen?
The makers of SQUID coin conducted a theft which is commonly known as the rug pull. In such a scenario, the makers or the scammers behind the digital currency cash out the real money quickly which leads to the drainage of the liquidity pool. As soon as this happened, the value of this crypto coin dropped from $2850 per coin to $0.002. The problems worsened when the investors realized that they were not able to sell the SQUID coins that they had bought.
What were the red flags?
Some of the most common red flags associated with the SQUID coin are:
> The website on which the SQUID coin was launched was just three weeks old.
> The website consisted of several grammatical errors and wrong spellings of basic English words.
> A few days after the coin was on the market, all the social media handles of the coin used for promotion were disabled including the website on which the coin was launched.
> A telegram channel was also set up by SQUID coin makers. The red flag in this section was that the channel restricted other participants of the group from commenting or texting.
What to do if scammed?
Are you one of the innocent customers who got scammed by the SQUID coin scammers? Do not worry at all! You have reached just the right place. All you have to do is fill out the form given on our page. At Fraud Reports Online, our customers are our priority and we believe in justice getting served to everyone. After analyzing the complaint, our experts get back to you with the best solutions available to retrieve your money.
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