Cryptocurrency scams inspired by the movie Squid Game are back

After the movie Squid Game hit Netflix in late 2024, crypto tokens with the same name also appeared in droves. While the characters participating in Squid Game in the movie had the chance to win a large sum of money, those who bet on the token named Squid Game were likely to lose everything.

Most projects that use the name and avatar of the "squid game" are scams, showing signs of being "pulled out" projects.

A series of tokens based on the movie Squid Game has just appeared

Blockchain security firm PeckShield has warned the community about this. According to PeckShield, fraudulent tokens based on Netflix series are “circulating unchecked.” Blockchain data shows that a token of the same name deployed on the Base blockchain network has lost 99% of its value since its launch. Several other tokens have also been created on the Solana network.

Not only did the scammer create a token with the same name as the hit movie, he also created an X account, using the name Squid Game, and chose avatars from the game's icons to advertise the project. Many social media users have warned investors not to buy these tokens.

Most of the tokens have the same name and avatar. The common point is that the project has very little liquidity, players can only buy but cannot sell.

This is not the first time a cryptocurrency scam has emerged based on the movie Squid Game . In 2021, a series of similar tokens appeared when the movie became a global hit. At that time, one token increased in price by 45,000%. However, the community raised alarms because many users said they could not sell the token when the price increased.

Source: https://thanhnien.vn/lua-dao-tien-so-an-theo-phim-squid-game-ro-tro-lai-185250101225043214.htm