Other
[loss] $3M+
"Squid Game crypto token collapses in apparent scam"
Primary Source ↗Financial Loss
$3.4M
(3,360,000 USD)
Incident Details
Creators of a Squid Game-themed token (not affiliated with, or authorized by, those behind the Netflix series) created a token which quickly skyrocketed in value and earned news coverage in outlets like the BBC. Not long after investors began to report they were unable to sell their tokens, creators drained $3.36 million out of the liquidity pool in an apparent rug pull.
Total loss estimated at $3,360,000.
Technical Details
- Initial Attack Vector
- Exit scam / rug pull
- Vendor / Product
- Squid Game
Timeline
- 2021-11-01 Breach occurred
- 2021-11-01 Publicly disclosed