Nov 2, 2021

Squid Game crypto token collapses in apparent scam

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 apparent scam. Squid, which marketed itself as a "Play-to-earn cryptocurrency", had seen its price soar in recent days - surging by thousands of per cent. As the BBC reported, it was criticised for not allowing people to resell their tokens. "Play-to-earn" cryptocurrency is where people buy tokens to use in online games and can earn more tokens which can later be exchanged for other cryptocurrencies or national currencies. The website is no longer online and social media accounts promoting the tokens have also vanished.

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