SQUID token up 600% today despite debacle and Binance investigation
The world’s biggest crypto exchange, Binance, has launched an inquiry into the Squid Game token to trace funds associated with the epic 45,000% pump and dump a few days ago.
The Binance Smart Chain-based gaming token SQUID is suspected to be an exit scam or rug pull according to the exchange. Despite this, some extremely optimistic users are still buying the token in hope of a resurrection, with the price surging six fold in the past 24 hours.
Binance is exploring options to assist those that bought the token and lost out in the crash. It is reportedly blacklisting addresses affiliated with the developers and using blockchain analytics to identify bad actors. It hopes to recover lost funds, although this seems a relatively remote possibility.
Read more on cointelegraph.com
