Squid Game S2: Crypto Influencer Scams $10.3M

Along with its thrilling new episodes, a crypto scandal is playing out that mirrors the drama unfolding on screen.

This isn’t just fictional drama—it’s a wake-up call for the crypto community. The scam has raised serious questions about trust and transparency in the crypto world. Promises of quick profits can often turn into nightmares.

The influencer’s actions have caused a ripple effect across the industry. Leaving many wondering if they’ve been “taken to the cleaners.”

🚨 LATEST: Squid Game returns with Season 2, introducing a crypto influencer who scammed his followers, leading to a $10.3M loss. pic.twitter.com/XqaKhZb4Pr

— Cointelegraph (@Cointelegraph) December 27, 2024

Crypto Scam Mirrors Squid Game’s High-Stakes Deception

Just like in the game, the influencer’s followers were lured in by the promise of wealth. They were left high and dry when things took a turn for the worse. Here is a clear example of how crypto scams are still relevant:

#PeckShieldAlert Beware of scam #SquidGame tokens circulating in the wild.
We have detected a fraudulent #SquidGame token deployed on #Base just 3 hours ago, with the deployer as the largest holder. The token has dropped 99%. pic.twitter.com/EIdaUldzaF

— PeckShieldAlert (@PeckShieldAlert) December 27, 2024

Crypto enthusiasts and investors have reacted strongly, demanding better regulation and accountability in the industry. While Squid Game’s fictional world is filled with life-or-death challenges, the real-world consequences of scams like this are significant. The damage caused by such scams is no less damaging in reality.

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