This Monday, the value of the cryptocurrency squid, inspired by the series ‘The Squid Game’, plummeted to almost zero and its anonymous creators removed its website and stopped updating their social networks. Soon, it became clear that it was a scam that allowed them to take more than 3 million dollars, according to estimates cited by Gizmodo.
Squid is neither the only nor the biggest scam to take place in the digital currency market, which has intensified in recent years.
One of the biggest scams to date has been the open source cryptocurrency BitConnect, launched in February 2016 by Indian Satish Kumbhani. It was presented as a cryptocurrency lending platform where bitcoins were allowed to be exchanged for the native ‘token’ bitconnect coin. Holders of this currency had to earn daily interest of 1%.
The initiative obtained the backing of several investors, the most famous of them being the American Carlos…