Squid Game Token Goes Offline After Skyrocketing 75,000%

　　The play-to-earn token enlivened by the hit Netflix show has plunged to almost zero after a confounding ascent.

　　The engineers behind a crypto project roused by Netflix's uber well known show “Squid Game” say they've left the task after the cost of its subsidiary token collided with almost zero.

　　The most recent advancement shows exactly how unsafe it tends to be to put resources into a new and advertised token in the crypto market.

　　As CoinDesk detailed last week, the play-to-earn crypto project Squid Game acquired moment prominence and the SQUID token rose by over 35,000% in only three days – notwithstanding a few warnings including syntactic and spelling blunders in the venture's white paper and the way that the undertaking's site was enlisted not exactly a month prior.

　　At press time, the undertaking's true site and its record on Medium were down and Twitter had briefly confined its record, saying it had identified “strange action” from it.

　　Right off the bat Monday, Twitter client @__tricck hailed that the engineers of the Squid Game venture had “mat pulled” SQUID holders. A carpet pull in crypto happens when the makers of a task take off with financial backer' reserves.

　　Information from BscScan shows that a location named by the site as being “accounted for to have been associated with a mat force” unloaded SQUID tokens and changed out large number of dollars worth of BNB tokens. BNB is the local token to Binance Smart Chain.

　　Information from CoinMarketCap shows that costs for SQUID, were down almost 99.99% to $0.002541 in the beyond 24 hours. Its exchanging volume has expanded over 130% throughout a similar time span, showing immense selling pressure.

　　The token is just accessible for exchanging on decentralized trades PancakeSwap and DODO, the two of which depend on Binance Smart Chain.

　　On Monday, the venture guaranteed in its authority Telegram station that its designers would prefer not to keep running the task because of the pressure of managing tricksters.

　　“Someone is trying to hack our project these days. Not only the twitter account @GoGoSquidGame but also our smart contract. We are trying to protect it but the price is still abnormal. Squid Game Dev does not want to continue running the project as we are depressed from the scammers and is overwhelmed with stress [sic]. We have to remove all the restrictions and the transaction rules of Squid Game. Squid Game will enter a new stage of community autonomy,” it wrote.

　　Squid Game isn't the just crypto project “roused” by the well known Netflix show, however none of them are authoritatively subsidiary with the South Korean endurance dramatization. Costs of different tokens related with the show, including squid game convention, squidgametoken, squidanomics and worldwide squid games, were additionally somewhere down in the red in the course of recent hours, as per CoinMarketCap.

　　As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

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