Another Scam: Squid Game Token Plunges to Zero After Rugpull

While cryptocurrencies present tremendous opportunities for multiplying one’s wealth, the space is also rife with scams. The latest came in the form of the Squid Game (SQUID) token, which abruptly lost 99.9999% of its value early this morning. Over $2 billion of buyers’ token value was effectively torched, leaving the founders with over $2 million in profit. Rise and Fall of “Squid Game” Token As displayed on CoinMarketCap, the token saw hyperbolic growth shortly after its inception last week. While…

Scam Coins: Everything You Need to Know to Identify Them

Since the inception of bitcoin in 2009, there has been a surge in cryptocurrencies, driving to a lucrative crypto market. Although the market has excellent returns, escalating insecurity, privacy infraction, and scams drive investors away from investing in the crypto world. There are many insecurity risks like phishing, hacking, impersonation, and malware attacks intending to take advantage of unsuspecting persons.  However, the most common crypto risk is scam coins, which lead to the loss of billions of dollars annually, thus…