REAL REKT STORIES OF CRYPTO : SQUIDGAME COIN
Remember the SQUID mania ? Ya that netflix series that ranked top telling the story of how real South Koreans are trapped by debt and finding way to get out. It turn out the the buyers of the scam coin might some have similar stories of the series. It was one the state of the art crypto scams.
And can be called not "Wreck Havoc" but HAVOC REKT. These guys (scammers) are probably living in lavish lifestyles somewhere buying Ferarries or Masseraties, or staying AWOL for a while and spend the money like 3 years from now, while being hunted by the international authorities.
On the other hand the victims are crying because of their poor knowledge of crypto combined with greed.
Below is the snapshot of the comment section of the token :
Link to read for yourself : https://bscscan.com/token/0x87230146E138d3F296a9a77e497A2A83012e9Bc5#comments
We can see people crying in the comments of the BCSScan of the token (an etherscan for BinanceNetwork). Just read the comments, and you will witness the crying of people : "We cant sell !!, It's a scam !!, What am I gonna do ?? , It's my kids education money...., etc" and suprisingly there are plenty of scammers also in the comments. So after being scammed by buying the SQUID token they are again targeted for scamming again by another person/entity. These guys are called "Comment Section Scammers".
This kind of scam is commonly called a "rug pull" by crypto investors.This happens when the promoter of a digital token draws in buyers, stops trading activity and makes off with the money raised from sales.Squid's developers or scammers to precise have made off with an estimated $3.38m (£2.48m), according to technology website Gizmodo. FYI, the total Supply of 800 million, 105.421 holders and 2 million transfers.
Just imagine out of 105 thousand holders of the coin, roughly 97% of them are investors who went in FOMO-ing the coin.And you reading this article may be one of them. Just a devastating success. And they used PANCAKEswap a DEX not a CEX (centralized exchange).
Even centralized exchange sometimes de-list tokens because somehow along the way it became a scam coin although there is thorough due diligence before listing them. While Decentralize Exchanges ? There the heaven for scammers, cause buyers directly swap their hard earned money in the form of Ether to the coins they believe will moon.Just like the MoonBrothers say it would moon. Using this strategy in buying coins that are just introduces by DEXa are sometimes a success like the story of the brothers who bought shiba inu tokens. But they recently regretted not selling at the highs and just staring alone foolishly contemplating a "Shoulda Coulda sold" had more wealth.
The first comment in the picture explains it all, and this like other crypto scams will be history on how easy it is for scammers to execute it. Why so easy ? If you are a blockchain developer you can just copy a smart contract code and change the name the tick and supply and execute it in the blockchain. And your coin is minted perfectly. Just hire some freelancers in Fiver to do social media and even design your web, get false pictures and linkedin IDs, make a copied whitepaper and edit it roughly. And start tweeting and discording. These guys just know it all. But carefully executing it and finding the moment is another thing. It's craftsmanship but evil craftsmanship.
Like they say, knowledge is like a knife you can use it for good and dissect knowledge or for the bad.
So next time, careful when you see these guys in the picture below :
