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New research suggests that crypto scams are getting worse. One popular strategy is the token "rug pull," where malicious actors fake hype over a crypto coin, abandon the project halfway, and steal all the investors' money.
Fueled by massive fervour among investors, the Squid Game coin skyrocketed as much as 310,000 per cent since its launch despite being a massive rug-pull scam.
The Squid Game crypto project had gained instant popularity and the token rose by more than 35,000 percent in just three days - despite several red flags including grammatical and spelling errors in the project's white paper.