Crypto scams are by no means a new thing. Unfortunately, a lot of digital currencies turn out to be nothing more than money grabbers before the anonymous developers disappear into the night either to take their investors’ money to retire on a beach somewhere in Thailand or more disturbingly to set up yet another crypto scam. Such is the unregulated nature of the crypto space. After rising over 35,000 percent in just three days, squid game crypto’s developers say they’ve left the project after the price of its token crashed to nearly zero.[url]SQUID/url] was launched last Tuesday with a price of just US$0.01, promising access to an online play-to-earn game inspired by the Netflix survival drama. The token’s value rose dramatically, and just three days later had increased 44,100 percent. Even during that period, there were red flags, with several reports of users struggling to sell SQUID on the decentralised exchange PancakeSwap. This was due to an anti-dumping mechanism that was imposed by the project’s developers, which meant owners could not sell the token.Five minutes after Squid Game hit its supposed all-time high of over,US$2,800, SQUID crashed to nearly zero.This is a classic sign of a rug pull, where developers suddenly abandon a project and take their investors’ funds with them.BTCBTC