The SQUID token grew by 2280%, despite a broken website and a scam warning.
Despite all the warnings, the price of SQUID showed an increase again this morning.
SQUID was launched two weeks ago, the price started at $0.01. In the first 72 hours it rose to $4.42. By that time, he had already aroused the suspicions of the media and the crypto community.
On November 1, the price of SQUID reached a maximum of $2,861.80, soaring by 7,500% in one day. But the record lasted only five minutes, and SQUID fell to $0.005.
As of today, the Squid Game website and Twitter account are blocked. The Binance exchange has launched an internal investigation as the project is built on the Binance Smart Chain. The accounts and wallets of Squid Game developers are blocked. The exchange's security team is trying to track down assets believed to have passed through the Tornado Cash transaction mixing service.
By data BscScan's anonymous creators have raised at least $3.4 million in investor funds. Experts believe this is a classic rug pull, one of the most common types of scams in the Defi ecosystem.
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