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Cryptocurrency based on the Nexflix series "The Squid Game" turned out to be a million-dollar scam.

The Cryptocurrency SQUID (by the name of the series in English, "Squid Game") came on the market as a result of the enormous success achieved by the Korean series "The Squid Game".

This reached US $ 2,861, however surprisingly fell to US $ 0 this Monday, as reported by CoinMarketCap. The creators of the coin by cashing in the shares stole an estimated US $ 2.1 million from investors.


This type of scam is called "Rug Pull" or "Carpet Pull" and consists of creating a cryptocurrency that is traded in the financial markets, a value is given to each currency and investors buy this currency that, according to the demand it can go up or down in value. It can be purchased with a credit card using the real value in currency. However, the scam is carried out when the creators of the currency withdraw the real fund in money amassing a considerable fortune from all the investors who have bought the digital money in the hope that later it will rise in price to sell or fall in price to buy and win.


However, SQUID being presented as a token that could be used for a new online game inspired by the popular Korean series raised suspicions. GIzmodo had pointed out numerous indications that it was a scam, such as that its website (now defunct) had huge misspellings. Another clue that it was a clear scam was that investors could buy SQUID, but could not sell it.


Before the impending crash, CoinMarketCap had also warned potential investors that SQUID was likely a scam, displaying a warning to "exercise caution" if they bought the cryptocurrency.


Around the palpable success "Squid Game" - a fictional dystopian drama - a series of profit opportunities have been created for those seeking to get rich create and sell cryptocurrencies, applications, video games and much more. Netflix noted that earlier this month the series had been viewed by 111 million accounts since its launch on its digital platform in September, making it the platform's "largest ever" serial launch. Executives have pointed to the show as proof that its growing range of international content can resonate with a variety of audiences.


However, if we are consumers of entertainment like this, we must be very careful that what they offer us is not so lucrative and attractively speaking as a way of generating income. There are also a number of opportunists who offer entire seasons and episodes on other platforms for as low as $ 1.00 a month. Behind that there is a great marketing network that if you recommend $ 1 plans to friends, you earn up to 30% of the profits of those plans, something totally absurd, and in the end they only give you the first chapter at $ 1 and then They demand payments of up to $ 20 a month for pirated chapters that are recorded from a screen.


Others offer you to watch the series "The Squid Game" for free by downloading an application from Google Play. The objective is that you download and generate traffic to Google Play so that Google pays them and when you download it it is a huge scam, the app has buttons that do not work, it locks and puts your cell phone on a black screen, or redirects you to fake pages with massive advertising. So we could mention a hundred scams around this hit Netflix series.


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