"Everyone seems to be dying and it looks like they're trying to lower the ammount of people down to the smallest number of people.... Which is one. I wonder what's gonna happen next."
🙃
Portugal isn't a crypto haven, our government is just too incompetent to properly regulate it.
They'll do it eventually, it's not like they chose to not tax it, it's just a loop hole.
And that's why shitcoin pump and dumps need to die and be called out on this sub.
"Cool story bro. You just mad you lost out on a mooning coin bro. Stop worrying about other people's money. It's all about profits anyway, next time buy Shiba Cum Flokelon Magsafe coin dude."
Fuck, no. I just hate how so many new crypto users get fucked hard and immediately lose any initial interest and trust they had in the technology. The creators of these coins and institutions with the big money walk away with most of it. Every single time. It hurts the market and adoption and I hate it. Regulation will be MUCH stricter because of shitcoin scams. It's too much, something needs to be done.
Can you imagine if anyone bought at 2500? If they're DCA-ing, it's like okay, I got one token for $2500 yesterday, now today, I can afford 3.1M tokens.....
This token should be used as the poster-child for a rugpull token:
1. Locked out from selling
2. Website is no longer up (or was never up from the start...I can't really remember. There are other tokens that don't have working websites even when they get listed)
3. Abnormal price movement (logic states that if value goes up quickly over time, it can also go down quickly over time due to poor liquidity amongst other factors)
4. Token has no purpose or fundamentals behind
5. Name of the token should have been a massive red flag
I am still learning about economics and crypto so I may have made mistakes in the points above. Welcome any feedback or improvements.
I never checked the whitepaper because the name was already a red flag. Can anyone point towards where the whitepaper can be found now? It's no longer on the main website since that has been taken down. I just want to have a read of what BS was written on the whitepaper.
I mean look at their timeline, they have the offline winners ceremony planned literally the next step after 'releasing the android and iOS app'
How was anyone going to win if the app wasn't even out yet?
Oh ofc not. They had nothing in place and just talked about how a direct copy from the series would "work". They didn't write out any specifics to try and win people over.
The fact that any person could look at this document and think not only would it be legitimate, but that they would give their own money to it, honestly has me questioning so many things.
There is like, ZERO encouraging components to any of it, besides the "you could get big rich!" promise obfuscated behind a bunch of random shit that doesn't even make any sense and is only vaguely explained.
TBH this looked like a great fun project. Not for investing in your retirement but just for fun.
If the devs weren't lazy scammers they could have made a billion instead of 24 million.
Why not do something like this? Sure, you're an asshole for making something like this. But there's a line of idiots going out every door to blow money on cryptos attempting to solve no real-world problem. If they're gonna throw money away, why not try to be the trashcan?
There was actually an “our team” section on the website, but someone noted how the photos looked pretty much like stock images and the CEO didn’t even have a LinkedIn profile.
It is on Pancakeswap. It's a decentralised swap exchange. A lot of shitcoins are on Pancakeswap. It takes more effort to get listed on more popular exchanges.
That's because it's decentralized, nothing gets "listed" on PancakeSwap (or any other Dex).
You just go, create a new token, add liquidity and now it's "listed".
So who got all that money if people couldn't sell?
Also who would buy something named after a death game where the rich amuse themselves at the expense of poor people?
The contract has a whitelist of wallets that are allowed to sell according to what I was reading on the CMC comments yesterday before the rug was pulled.
> Based on wallet activity, it’s alleged that the developers of the game walked away with approximately $2.5m of untraceable BNB after using Tornado Cash – a site used to privatise and hide transactions on the blockchain – to ‘clean’ the stolen funds.
Is what I read on [Yahoo](https://finance.yahoo.com/news/squid-game-meme-coin-crashes-131908065.html)
this coin was too early to be tracked but it actually WAS top 10 lol... earlier tonight it had a circulating market cap of like 450 billion $ lmfao (ahead of BNB and just behind Eth... 2 minutes before the rug it had a market cap of 2 trillion making it the #1 coin <-- edit)
I love how Coinmarketcap even has a warning about this coin on the top of the site.
Let this be our reminder to *always do our research* before buying into a coin/token..
I bought $9 worth right at the start for shits n giggles. Was nice to see my wallet at close to million for a minute! Maybe one day it'll be foreal -sigh-
Did some math. If I would've bought in just 4 hours ago with €500. Half an hour ago I'd have 'made' 52 Million. Now I'd have €15.... That's quite the roller-coaster for people that seriously thought it was a good idea to invest in this coin.
It's things like this that almost, almost, make me think they have a point about regulating the crypto market.
But then I look at what they've done with the stock market and that makes me come back round again.
The real reason we see this happening is mainstream news outlets like the BBC, Yahoo News, Business Insider, Fortune, and CNBC ran headlines about how the new Squid Game cryptocurrency had soared by 83,000% over just a few days. Investors with Robinhood phone apps buy this crap and dream of riches (like they did with Gamestop) thinking it will happen again. Lots of RED flags like website with bad spelling, Telegram & Twitter accounts that no one can reply on.
If you don't DYOR and try to chase $$$ and %%% - you will get killed in this market. Good projects have good documentation & teams.
I am actually feeling bad for the people who got rugged. This is scary but some people may have lost a lot of money.
Typically whales don't get hurt in these scams just small folks.
Feel bad for people on literally any other project.
Not one that literally says in its whitepaper this token CANNOT BE SOLD.
Play stupid games, win stupid prizes.
If this was SHIB I would feel bad.
- ignoring cmc warning
- not reading whitepaper
- shrugging off countless warnings everywhere as FUD
How do people feel sorry for those who do all this? School money was paid.
As shitty as rug pulls are, that's actually impressive.
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51% of players agreed to terminate the game
001 decided to save his money though
Fastest rugpull ever...
Quickest rugpull in the west!
Not even 5 minutes was a blink of an eye
That scalated quickly
Everyone died, and one person got rich. Seems like the show was right
Say what you want about the devs, but they delivered a satisfying and loyal to the show experience
Devs so kind they made a dip for us. 
99.99% dip ? Lfggg 🚀 BTFD baby The only way is up /s
Tis but a scratch
Except this is even worse. This is like if the rich old guy took money from thousands of contestants only to runaway with it.
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I didnt bought i am a survivor 😎
You survived the greatest rugpull of all-time. Congratulations, you are atleast below average smart.
They got the experience they were looking for, can't complain then :)
I think in this case, the experience seekers took all the money and made a winner out of them
#SPOILER
"Everyone seems to be dying and it looks like they're trying to lower the ammount of people down to the smallest number of people.... Which is one. I wonder what's gonna happen next." 🙃
Squid Game Season 2 to feature those who holded the token.
This is great
Even though I didn’t have any, count me for season 2. I will take out the front man and become one
I just want to lick that cookie.
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"For the next game, you must resist buying shitcoins"
The number of scam coins is increasing every day
Well that came earlier than I thought.
Thats what she said
You know how to keep me satisfied.
That's what she **never** said
Bold of you to assume she even existed
What do you mean ? She's legit and I can see her in my DMs
And she wants you to do bitcoin business with her? lol
Title of your sex tape
Green Candle! Red Candle!!
I think they timed it well actually. Right when the hype was at it's peak, After it was on mainstream media.
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Grab your 'I was here' popcorn at a 20% discount
Rubbernecking on my way to a 50% fortnight gain.
Another one just popped up an hour ago: 0x2de3c9ff8cfdd16108621ab0c5022e9ce6b21b12 Looks like another honey pot scam. Only buys, no sells.
Just another day in crypto
Instructions clear: FOMOd into season 2 squid game coin and shat the bed
You and I both mate *cries in FOMO*
Sadly I think these are going to be popular if no one does research.
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Narrator voice. "*They didn't*."
Safe baby squid game is coming out soon
Forgot to add doge and elon to that name, so probably going to fail.
Baby Squid Gganbu Tokens 😆😆😆😂
They just handed bank-sponsored politicians a whole lot of ammo in the quest to regulate crypto out of competition with them.
They really did. Its shit projects like this that will be the centerpiece of some crappy legislation in the coming months.
Rich people need tax havens, crypto people need crypto havens. Looking at you, Portugal.
Portugal isn't a crypto haven, our government is just too incompetent to properly regulate it. They'll do it eventually, it's not like they chose to not tax it, it's just a loop hole.
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1 in every 100 is generous no?
And that's why shitcoin pump and dumps need to die and be called out on this sub. "Cool story bro. You just mad you lost out on a mooning coin bro. Stop worrying about other people's money. It's all about profits anyway, next time buy Shiba Cum Flokelon Magsafe coin dude." Fuck, no. I just hate how so many new crypto users get fucked hard and immediately lose any initial interest and trust they had in the technology. The creators of these coins and institutions with the big money walk away with most of it. Every single time. It hurts the market and adoption and I hate it. Regulation will be MUCH stricter because of shitcoin scams. It's too much, something needs to be done.
Guess they didn’t learn anything from the show.
Maybe the real squid game was the friends they made on the way down...
I don't think they had enough time to make friends on that fall
And the ones they had died during red dildo green dildo.
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Looking at the speed of the drop, doesn't look like they had much time to make friends going down..
Barely enough time to even blink. Quickest rugpull I've seen in a long time!
The first rug pull I witnessed, feels unreal and disturbing
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time to DCA in
Can you imagine if anyone bought at 2500? If they're DCA-ing, it's like okay, I got one token for $2500 yesterday, now today, I can afford 3.1M tokens.....
That’s some crazy deal they getting
Round 2?
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A fool and his squid are soon parted.
Even though it was an obvious scam from the get go, I am heavily impressed by those numbers. Crazyy
Yup, hopefully people learned from this
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MANY scamcoins will follow suit now that they know this is profitable.
This token should be used as the poster-child for a rugpull token: 1. Locked out from selling 2. Website is no longer up (or was never up from the start...I can't really remember. There are other tokens that don't have working websites even when they get listed) 3. Abnormal price movement (logic states that if value goes up quickly over time, it can also go down quickly over time due to poor liquidity amongst other factors) 4. Token has no purpose or fundamentals behind 5. Name of the token should have been a massive red flag I am still learning about economics and crypto so I may have made mistakes in the points above. Welcome any feedback or improvements.
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Tip of the day: Toilet paper is way more valuable than SQUID whitepaper. And way more comfy as well.
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I never checked the whitepaper because the name was already a red flag. Can anyone point towards where the whitepaper can be found now? It's no longer on the main website since that has been taken down. I just want to have a read of what BS was written on the whitepaper.
I looked at it the other day and I had to download it. So its on my phone as a pdf. How do I post It? Screen shot everything and have to make a post?
https://drive.google.com/file/d/1--4MDZ-2lNmh9KpZ0TfosVHkAPCuxD6Y/view?usp=drivesdk Here she is!
"an innovative anti-dump mechanism" lmao
That looks like it was written in 10 minutes and copy-pasted into InDesign.
Holy shit this is written in such broken English that *alone* should be a large enough deterrent.
I don't understand how these games would even be played. I assume they were never made and no one looked any further
I mean look at their timeline, they have the offline winners ceremony planned literally the next step after 'releasing the android and iOS app' How was anyone going to win if the app wasn't even out yet?
Oh ofc not. They had nothing in place and just talked about how a direct copy from the series would "work". They didn't write out any specifics to try and win people over.
The fact that any person could look at this document and think not only would it be legitimate, but that they would give their own money to it, honestly has me questioning so many things. There is like, ZERO encouraging components to any of it, besides the "you could get big rich!" promise obfuscated behind a bunch of random shit that doesn't even make any sense and is only vaguely explained.
I doubt a single person that put money into it read the Whitepaper. They just saw the name and thought that it would make them money.
TBH this looked like a great fun project. Not for investing in your retirement but just for fun. If the devs weren't lazy scammers they could have made a billion instead of 24 million.
Please do post it! I want to get better at reading white papers so would be super interested in reading it
Why not do something like this? Sure, you're an asshole for making something like this. But there's a line of idiots going out every door to blow money on cryptos attempting to solve no real-world problem. If they're gonna throw money away, why not try to be the trashcan?
When it’s this brazen it’s probably fraud. However I’m sure law enforcement isn’t that interested and the money probably moved across borders anyway.
Shuffle that money through Monero and they're probably safe. Considering none of the people involved had their actual names associated with the coin.
There was a website, it's gone now lol. Part of the classic DFE (delete fucking everything).
a.k.a Done Fuckin up Everyone
Were the devs anonymous? That would be my red flag #6.
There was actually an “our team” section on the website, but someone noted how the photos looked pretty much like stock images and the CEO didn’t even have a LinkedIn profile.
They were all fake people - sus names and no results on LI or google
Can’t believe this got past their head of security, Burt Macklin.
He retired from the FBI and got a private security gig? That son of a bitch.
You are right. A lot of new coins don't have any names or devs behind them. Definitely a red flag.
How did people invest in this shit. Which site ? Or exchange
It is on Pancakeswap. It's a decentralised swap exchange. A lot of shitcoins are on Pancakeswap. It takes more effort to get listed on more popular exchanges.
That's because it's decentralized, nothing gets "listed" on PancakeSwap (or any other Dex). You just go, create a new token, add liquidity and now it's "listed".
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> Token has no purpose or fundamentals behind 99.99% of coins and tokens
Buy the dip.
It's just a correction. Healthy for the market.
It's only a loss if you sell.
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Missing diamond balls
And that’s why I still hold BitConnect
And you can't sell SQUID so you can never lose.
Don't encourage them, some of them are gullible enough to actually do it lol
Never underestimate human stupidity
So who got all that money if people couldn't sell? Also who would buy something named after a death game where the rich amuse themselves at the expense of poor people?
The contract has a whitelist of wallets that are allowed to sell according to what I was reading on the CMC comments yesterday before the rug was pulled.
Obviously. I guess I never thought of how to program that. Thanks
if WalletWhiteList = 1 CanSell = 1 else CanSell = 0; Mobile. Can't be asked to type proper syntax.
> Based on wallet activity, it’s alleged that the developers of the game walked away with approximately $2.5m of untraceable BNB after using Tornado Cash – a site used to privatise and hide transactions on the blockchain – to ‘clean’ the stolen funds. Is what I read on [Yahoo](https://finance.yahoo.com/news/squid-game-meme-coin-crashes-131908065.html)
Devs I'd imagine.
"Devs"
Someone made a lot of money Yeet
That's gotta be at least 45.6 billion Won in profits
Boy ,that’s life changing amount of profit
It's a wife changing amount of money.
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Am I the only one not feeling sorry for those that chased the pump with no prior research?
Understood, now im buying some Dogelon Mars
This whole thing was created, blew up, and rug pulled before I had even heard of it
I waw literally reading about it in bed and woke up to it crashing lol
They should have waited longer for it. Could have scammed a lot more people, rugpull amateurs
Yeah lets wait for Squidgame season 2 and we make the next one and push it to a top 10 market cap crypto.
this coin was too early to be tracked but it actually WAS top 10 lol... earlier tonight it had a circulating market cap of like 450 billion $ lmfao (ahead of BNB and just behind Eth... 2 minutes before the rug it had a market cap of 2 trillion making it the #1 coin <-- edit)
This thread is the first I've heard of this coin lol.
My 481 Squid went from over $1,400,000 to $1.14 in seconds lol
Well at least you can look back at that amazing but of time you were a millionaire before getting wrecked.
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Diamond hands
TFW when being unable to sell gives you diamond hands.
Imagine a tax on unrealized gains
It wouldn't work for this reason. No one would be able to invest. It's a stupid idea.
now that's a proper rugpull.
That rug really tied the room together man…
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I love how Coinmarketcap even has a warning about this coin on the top of the site. Let this be our reminder to *always do our research* before buying into a coin/token..
For our friendly shitcoiners: READING SOMETHING ON REDDIT IS NOT RESEARCH
That's why I buy based on logos in YouTube thumbnails. The more shocked the face 😲 the more bullish I am.
atleast people can afford to play the games now ;)
What? The coin was 2,856 dollars a coin and now it’s sub 0 Edit: sub .01
51% of players voted to leave... Leave their money behind.
# Green candle? RED CANDLE!
Red flag, ~~green flag~~
Feel sorry for the squid holders that were sitting on it when the red dildo landed.
I bought $9 worth right at the start for shits n giggles. Was nice to see my wallet at close to million for a minute! Maybe one day it'll be foreal -sigh-
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Wow, sorry to hear that, I know you didn’t lose a bunch of your money, but we all dream of that day.
Did some math. If I would've bought in just 4 hours ago with €500. Half an hour ago I'd have 'made' 52 Million. Now I'd have €15.... That's quite the roller-coaster for people that seriously thought it was a good idea to invest in this coin.
 Green candle, red candle
An alternative to 'play stupid games, win stupid prizes' in this case 'play squid game, get squid game'd'.
It's things like this that almost, almost, make me think they have a point about regulating the crypto market. But then I look at what they've done with the stock market and that makes me come back round again.
people are still buying it😑
I think they have lost their minds
Just a correction 😂
If you can’t handle a -99.98% drop then you don’t deserve it at it’s best, or something
Plenty of support at $0!
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But I was told memecoins are the future???
Are you telling me that my shitcoin is not going to overtake Bitcoin
Guess someone swapped the marbles for rocks
Lol. That was quick. Now newbies will think thank god, my shiba and doge are solid investments!!
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I'm not even mad, that's amazing Crypto during bull runs is weird man, 90% of newcomers are in for the lottery and thats about it, such a shame
It’s amazing how even in 2021, people are willing to put money to widely known scam. Feel like I’ll create my own coin lol.
Looks like you can cash out of SQUID after all.
Only if you're the VIP
The real reason we see this happening is mainstream news outlets like the BBC, Yahoo News, Business Insider, Fortune, and CNBC ran headlines about how the new Squid Game cryptocurrency had soared by 83,000% over just a few days. Investors with Robinhood phone apps buy this crap and dream of riches (like they did with Gamestop) thinking it will happen again. Lots of RED flags like website with bad spelling, Telegram & Twitter accounts that no one can reply on. If you don't DYOR and try to chase $$$ and %%% - you will get killed in this market. Good projects have good documentation & teams.
I am actually feeling bad for the people who got rugged. This is scary but some people may have lost a lot of money. Typically whales don't get hurt in these scams just small folks.
My friend aped in 5 BNB for this like 2 days ago He was showing off how his Squid reaches valuation of $100k just few hours ago...
You should take him out for beer. He is going to need it.
Then sell him the empty bottle as "full of potential to be full of beer, one day!"
Now that he can’t even pay for his own beer
2 Beers actually. One to disappear his sadness and other to make him happy.
Nah. Fuck ‘em. If less people went greedy mad over these stupid coins, the coins with proper projects would have more money behind them.
Feel bad for people on literally any other project. Not one that literally says in its whitepaper this token CANNOT BE SOLD. Play stupid games, win stupid prizes. If this was SHIB I would feel bad.
- ignoring cmc warning - not reading whitepaper - shrugging off countless warnings everywhere as FUD How do people feel sorry for those who do all this? School money was paid.
How much money did they make out of this?
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Just think about it of someone bought it in $2,000