Squid Game Token Price Crashes From $2,800 To Zero Minutes After Twitter Restricts 'Official' Account

The Squid Game SQUID/USD crypto token crashed 99.99% Monday after Twitter Inc TWTR restricted its “official” Twitter account.

What Happened: After clocking four-digit percentage gains for four days straight, the Squid Game cryptocurrency crashed to $0.0035 from a high of $2,861 in under 5 minutes.

According to CoinMarketCap, the crypto project has an unverified market cap of $2.9 million.

The crypto token recorded an 83,000% price surge in a matter of days, drawing investors in despite numerous reports that it was an obvious scam.

Users reported being unable to sell their SQUID tokens on account of its “anti-dumping technology.”

After social media platform Twitter flagged the “official” Squid Game account, its creators reportedly attempted to run other accounts which were also flagged and suspended.

At the time of writing, scammers had already begun laundering the stolen funds through Tornado Cash, an Ethereum-based solution that enhances the privacy of transactions.

The wallet address associated with removing liquidity has now been flagged as “SQUID Token Rug.”

Photo by Mahdi Bafande on Unsplash.