A cryptocurrency launched with the branding of hit Netflix series Squid Game has disappeared from the web, leaving investors out of pocket and fearing that they’ve been scammed.
The token had surged more than 300,000% since launch, being valued at over $2,850 (£2089), before suddenly dropping to almost zero when the creators seemed to vanish with investors’ funds.
It had launched to celebratory news reports telling fans of the dystopian series that there was a cryptocurrency for them to join an online version of the game, due to start in November.
However, all those investors and players have now been left out of pocket, with the value of the currency dropping to near zero and the creators’ website disappearing from the web.
Many onlookers noted numerous red flags as the currency’s popularity soared.
Its creators were not allowing investors to resell any of the tokens which they had purchased, and there was no official licensing agreement for the use of the Squid Game intellectual property.
At the time, the creators claimed they were using an anti-dumping technology that prevented people from selling their coins in a manner that would distort its market value, and that a second cryptocurrency they were developing would allow winners to sell their holdings.
But investors fear…
