Squid Game Scam

Squid Game is Netflix's most watched series ever. Its creator, Hwang Dong-hyuk, based the series on his own economic struggles early in life, as well as the economic disparity in South Korea and in Capitalism.

Basically, Squid Game is a critique on capitalism among other things. It's tragic, and it should serve as a warning, that at least one cryptocurrency with the same name (there are several) has proven to be a quick and dirty money-grab, like so many other things in a world where everything's fueled by profits. The series revolves around a contest where players risk their lifes to play a series of deadly games for a chance to win a bucket-load of money. All the contestants are poor and in debt; they have the right motivation to play such a high stake game and they behave in concordance with the old capitalist myth that promises high returns on high risks. Yes, it's a myth, as most fortunes are made in economically safe environments; "risks" in the real world are taken only by those who have a safety-net present should the "risk" not pay off. What's at play in Squid Game is more akin to total desperation.

Now let's take a look at the timeline of the series' rocket trajectory to unprecedented success: it released worldwide on September 17, 2021, to critical acclaim. And as soon as in November 2021, it became Netflix's most-watched series, amassing 1.65 billion viewing hours during its first four weeks. Somewhere someone realized quickly that the series would become a huge success, and already on October 26 the new Squid Game token was released at an initial price of 1.2 cents. It skyrocketed by a whopping 23 million percent, to a price of $2800 per coin, at its peak on November 1, 2021, just when the series became Netflix's most successfull. And that's when all the investors got the rug pulled from under their feet, shortly after reports started coming out that investors were unable to sell their tokens. The creator, or creators of the coin got away with an estimated three million dollars, and there's been at least one report of an investor who's lost their life-savings of 28,000 dollars... Maybe this is the right moment to mention another human trait under capitalism: some people's willingness to throw their fellow man under the bus just to make a quick buck.

There were some reports by people who saw early on that this had to be a scam, mainly because of the unrealistic, "too good to be true" timeline in the dodgy whitepaper: they were planning to have a Android and IOS version of the playable game based on the token ready by November 2021, which is wholly unrealistic with the series only having been launched on September 17. Now, I mentioned that there are several other crypto projects with the Squid Game branding: SquidDao, Squidanomics, SquidGame Protocol, Subsquid, EvilSquidGame, SquidGameToken, Squid Moon and International Squid Games, among many others. Just like the token discussed here, none of the ones I mentioned have any affiliation with Netflix or the series' creators, which should serve as an early red flag. So please, do your due diligence before investing in any of them. I'm not saying they're all scams, I'm almost certain not all of them are, but please do your research before paring with your hard earned money!

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