A fake Squid Game token on Base crashed 99%, scamming investors with a pump-and-dump tied to show hype.
A new scam token tied to the hit show Squid Game just popped up on the Base blockchain—and it’s already a disaster. In under 9 hours, the token dropped a massive 99%, wiping out all its value. The whole thing was a pump-and-dump scam where the creator held most of the token supply, hyping it up to pump the price and then selling off at the top, leaving investors in the dust.
The token, called SQUID, had no actual connection to the show, even though scammers used the buzz from Squid Game Season 2 to make it look legit. The hype came at the perfect time, with the show’s latest episode featuring a character running a failed crypto project, adding fuel to the fire. Investors rushed in, but once the token hit its peak, it all came crashing down.
As of this writing, the token’s price is only $0.0111255, or almost nothing. The Squid Game storyline may have been used as a backdrop to give this scam the appearance of legitimacy, but it was something more sinister and merely a means for scammers to profit quickly while causing others to suffer significant losses.
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