Beware of scam tokens related to Squid Game Season 2 release. Learn about the impact of scams and hacks on the crypto industry in 2024.
With the premiere of the second season of the popular series Squid Game on Netflix in late December, a wave of tokens related to the show emerged in the digital currency market. On December 27, blockchain security company PeckShield issued a warning about the fraudulent nature of some of these tokens, stating that one token released on the Base network has faced a 99% price decrease. This incident is reminiscent of a similar scam in 2021 where a token called SQUID saw a 45,000% growth before turning into a major scam. Scams and hacks in 2024 have caused a 40% increase from the previous year, resulting in $2.3 billion in damages to the crypto industry.
