Friday Squid Blogging: Squid Game Cryptocurrency Was a Scam
The SQUID cryptocurrency peaked at a price of $2,861 before plummeting to $0 around 5:40 a.m. ET., according to the website CoinMarketCap. This kind of theft, commonly called a “rug pull” by crypto investors, happens when the creators of the crypto quickly cash out their coins for real money, draining the liquidity pool from the exchange.
I don’t know why anyone would trust an investment — any investment — that you could buy but not sell.
As usual, you can also use this squid post to talk about the security stories in the news that I haven’t covered.
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