A cryptocurrency called SQUID, inspired by — but certainly not affiliated with — Netflix's most popular TV show of all time, "Squid Game," rocketed into existence last week. How were the dalgona made? In the case of the Squid Game cryptocurrency, there were several apparent signs that it was bogus to begin with. Reports call out the fact that the currency was not available for purchase on mainstream platforms. Instead, investors could only purchase the cryptocurrency on a platform that doesn’t guarantee the transactions made upon it. Further, investors could only buy the currency, not sell it, effectively locking them in.

This is often what’s known as a “rug pull”, where investors who hold large volumes of the currency rapidly cash out, leaving later investors with low-value coins. In this case, the game itself also disappeared from the internet. How The Squid Game Crypto Scam Worked Get the best high potential coins right into your inbox