How to Avoid Crypto Scams ! Squid Game Crypto was just Rug Pulled on massive Honey Pot Scam- Scammers Make Off With $2.1 Million

Rules to avoid crypto scams:

#1 Never buy a coin that says anything about restricting your ability to sell your coin at anytime. ( #1 Sign of Honey Pot Scam )

#2 If the coin is new, do lots of research before you buy it, and only buy a very very small amount. First make sure you can all sell it. ( Test buy) Squid Game was a Crypto HONEY POT scam these thieves will try it again.

#3 Avoid Pancake Swap, This scam was done with the swap software of Pancake swap and as far as we know 85% of crypto scams are conducted on the Pancake swap software locking buyers out from their ability to sell the coins they just paid money for. This is a real issue and we need regulators to shut down this option. Swap platforms need to be liable, we need to also make it illegal to not be able to swap back out of the coins you buy or put onto their platform.

#4 Just use large regulated exchanges like Coinbase or Gemini as they conduct very detailed exams of the code of each coin they put onto their platforms.

#5 Never, repeat never give anyone your Private Key / Wallet Secret phrase to anyone ever.

This scam let people buy the Squid and Marble coins, but no sell it. Pancake swap would give a ERROR code anytime people tried to sell. This was because the creators coded the coins with no ability to sell them. After 1 week or so they took off with all of the money and the Cryto buyers got RUG PULLED !

The anonymous hucksters behind a Squid Game cryptocurrency have officially pulled the rug on the project, making off with an estimated $2.1 million. The SQUID cryptocurrency peaked at a price of $2,861 before plummeting to $0 around 5:40 a.m. ET., according to the website CoinMarketCap. This kind of theft, commonly called a “rug pull” by crypto investors, happens when the creators of the crypto quickly cash out their coins for real money, draining the liquidity pool from the exchange.

The SQUID crypto coin was launched just last week and included plenty of red flags, including a three-week old website filled with bizarre spelling and grammatical errors. The website, hosted at SquidGame.cash, has disappeared, along with every other social media presence set up by the scammers. You can see an archived version of the website here.

Other red flags included the fact that SQUID’s Telegram channel, set up by the unknown scammers, didn’t allow comments from outsiders. And the Twitter account made it impossible for anyone to reply to posts.

This is just the latest example of scammers utilizing pop culture to get media attention. A similar rug-pull occurred earlier this year with Mando, a cryptocurrency that used images from Disney+’s Mandalorian TV show—without permission from Disney, of course.

Does this mean that investors have finally learned their lesson and won’t invest in shady cryptocurrency projects anymore? That seems unlikely. Scam artists love the crypto space because it’s incredibly difficult to differentiate the scammers from someone who’s earnestly trying to create a legitimate new cryptocurrency. This is a wake up call to the whole Crypto Gaming community to watch out, Scams are real, and can lock you out from selling your fake coins if you do not buy them on reputable exchanges.

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