Before the collapse, the value of the coin stood at $2,856 (EUR 2462), reports The Guardian. The cryptocurrency rose 310 percent in value and then collapsed after Twitter restricted the coin’s account for “suspicious activity.” The cryptocurrency’s website and social media accounts are no longer available.
The cryptocurrency Squid Game was released on October 20 and the intention was that you could play an online game with it in November. This game is said to be inspired by the popular series Squid Game, in which adults play violent children’s games to get rid of their debts. The winners of the online game would be rewarded with even more Squid tokens.
The CoinMarketCap website previously warned potential buyers about possible scams surrounding the coin after it emerged that buyers could not resell the cryptocurrency.
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