SQUID Token: What It Is, Why It Crashed, and What You Need to Know

When you hear SQUID token, a cryptocurrency that exploded in popularity then vanished overnight, tied to the viral Netflix show Squid Game. Also known as Squid Game token, it was marketed as the next big DeFi opportunity—but turned out to be one of the most brazen crypto scams of 2021. The token rode the wave of a trending show, luring people in with promises of high returns, fake partnerships, and a locked liquidity pool that looked legit. But behind the flashy website and influencer posts, there was no team, no roadmap, and no real use case—just a smart contract designed to trap buyers.

The crypto rug pull, a scheme where developers abandon a project and drain all the funds from its liquidity pool. Also known as exit scam, it’s a tactic used when a token has no long-term value but can be pumped quickly is what killed SQUID. Within days of its launch, the developers pulled the plug, drained over $3 million from the liquidity pool, and disappeared. The token’s price went from $2,800 to less than $0.01 in hours. Investors who bought in late were left holding digital trash. This wasn’t a market correction—it was theft dressed up as innovation.

What makes SQUID stand out isn’t just how much money was lost, but how easily people were fooled. The project used fake team photos, copied whitepapers, and even created a fake blockchain explorer to make it look real. It even had a fake staking dashboard showing fake earnings. These tricks work because people want to believe. They see a trending name, hear others talking about quick profits, and forget to ask: Who’s behind this? Where’s the code? Is there any real activity on the blockchain? The truth is, if a token’s only story is a TV show and a promise of riches, it’s almost always a trap.

The aftermath of SQUID’s collapse still echoes in crypto circles. Regulators now pay closer attention to meme-based tokens. Exchanges are quicker to delist suspicious projects. And smart investors now check for verified team members, audited contracts, and real trading volume—not just hype. SQUID didn’t just lose value—it lost trust. And that’s the real cost.

Below, you’ll find real reviews and deep dives into similar cases—like BFICGOLD, NFTP, and other tokens that promised the moon but delivered nothing. These aren’t just stories about bad investments. They’re lessons in how to spot a scam before you lose your money.