The Balance Sheet of the Squid Game (SQUID) Scam Has Become Heavy! Millions of Dollars Were Stolen

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Crypto currency the industry has faced another major fraud incident. Who recently appeared and immediately after its release caught an incredible surge The Squid Gamereleased as a cryptocurrency unit of SQUID, literally crashed the other day. With the price crashing the tokenthe developers of the have also disappeared.

Squid Game (SQUID) the balance sheet of the fraud was heavy. Here are the details;

The Weighty Balance Sheet of the Squid Game Scam Has Been Revealed

Squid Game, which was recently released and reached a market capitalization of $ 2 Trillion, up 1 cent to $ 2,856 (SQUID) the token has experienced a sharp decline over the past day, falling as low as $0.003.

Fraudsters, on the other hand, stole $ 3.3 million from investors and disappeared. That being said, SEC, XRP he is still more concerned about taking Ripple’s XRP as collateral in his case. A Play-to-Earn NFT game token called SQUID is available for players to participate in their online games to further multiply their assets SQUID he let them buy his token.

However, the new P2E token was already showing warning signs. So SQUID its investors had recently made their voices heard on social media about the inability to sell. In addition, as noted by the BBC, the website of the P2E token contained several octoberographical and grammatical errors. The scammers disappeared as soon as they opened the Squid Game website and social media accounts promoting the token.

Is it Inadequately Regulated or Neglected by the SEC?

However, the biggest question here is, SECrather than jeopardizing the safety of investors and their financial markets to fight a never-ending lawsuit, it is whether to ultimately intervene and regulate aspects of the market that need its help. This incident is a losing fight for the SEC, as the ongoing XRP case has clearly interfered with the commission’s ability to perform its security duties.

Singapore-based crypto company Openmining“Today, new cryptocurrencies can be listed on decentralized exchanges on the first day of their creation, without any regulation or due diligence,” Jinnan Ouyang of China told the BBC.

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