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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

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    Who Will Reach $1 First In 2023?

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    5 Best New BSC Cryptocurrencies To Invest In 2023

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    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

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    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

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    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

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    Ethereum Price Signaled “Sell” And Remains At Risk of More Losses

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    Tron (TRX) Sees 10% Price Surge Following Bittorrent Bridge Launch

    Tron (TRX) Sees 10% Price Surge Following Bittorrent Bridge Launch

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    Is A 500x Surge On The Horizon?

    Bitcoin Price Faces Hurdle, Why 100 SMA Is The Key

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    Bulls Aim Big After Recent Surge Above $0.5

    Bulls Aim Big After Recent Surge Above $0.5

    Ethereum Breaks USD 4K, Indicators Suggest Short-term Recovery

    Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

    ADA Price (Cardano) Plunge To $0.32 On The Horizon As Bulls Show Weak Hands

    Risk of Sharp Drop Below $300

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    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Why Decentralized Exchanges Are On Rise? Can INNODEX Surpass Binance and Uniswap?

    Best Crypto Exchange Affiliate Programs in 2023

    Best Crypto Exchange Affiliate Programs in 2023

    What does Crypto Index fund Means and How to Invest?

    What does Crypto Index fund Means and How to Invest?

    Who Will Reach $1 First In 2023?

    Who Will Reach $1 First In 2023?

    5 Best New BSC Cryptocurrencies To Invest In 2023

    5 Best New BSC Cryptocurrencies To Invest In 2023

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    Investing Penny Stocks? 5 Crypto Stocks To Watch Now

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    5 Reasons Why Shiba Inu Will Rule The Crypto Market In 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Top 5 Cryptocurrencies Under $1 that Will Explode in January 2023

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

    Chinese New Year And Bitcoin Will There Finally Be Fireworks For The King

  • Analysis
    Ethereum Price Signaled “Sell” And Remains At Risk of More Losses

    Ethereum Price at Clear Risk of Further Losses After Multiple Rejections

    Tron (TRX) Sees 10% Price Surge Following Bittorrent Bridge Launch

    Tron (TRX) Sees 10% Price Surge Following Bittorrent Bridge Launch

    Is A 500x Surge On The Horizon?

    Is A 500x Surge On The Horizon?

    Bitcoin Price Faces Hurdle, Why 100 SMA Is The Key

    Bitcoin Price Takes Hit – Upsides Turn Attractive To Sellers

    Bitcoin Turns Sell on Rallies Towards $48K, Bears In Action

    Bitcoin Price Faces Confluence of Bearish Factors And Could Decline Heavily

    Ethereum Extends Rally, Why ETH Could Rally Further Above $5K

    Ethereum Price Smashes Resistance, $1,900 Could Be Next

    Bulls Aim Big After Recent Surge Above $0.5

    Bulls Aim Big After Recent Surge Above $0.5

    Ethereum Breaks USD 4K, Indicators Suggest Short-term Recovery

    Ethereum Price Topside Bias Vulnerable If It Continues To Struggle Below $1,920

    ADA Price (Cardano) Plunge To $0.32 On The Horizon As Bulls Show Weak Hands

    Risk of Sharp Drop Below $300

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    Worlds Beyond Alpha Games Launch June 7th

    Worlds Beyond Alpha Games Launch June 7th

    Star Atlas Releases Major Showroom Update

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    Be the First to Slay Old Sally in Champions Ascension

    Pixelynx Mint for mau5trap NFTs

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    Bridge Marks of Fate for Tollan Worlds Mint

    Bridge Marks of Fate for Tollan Worlds Mint

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    Vulcan Forged Opens Alpha V2 of Metascapes

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From $2 Trillion MCAP to Almost Zero $SQUID Coin Scammers Make $3.3 M, Will SEC Intervene?

2021-11-02
in Altcoins
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From $2 Trillion MCAP to Almost Zero $SQUID Coin Scammers Make $3.3 M, Will SEC Intervene?
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The web has been blown away with the completely good Squid Recreation Rip-off. The Squid Recreation Token creators have aced a rare “rug pull” and vanished simply in time when the value surged as much as almost 2,400 % in 24 hours window. Token holders are left helpless with the lack to withdraw post-hike, and it could be laborious to digest, nonetheless, the actual fact is that Squid Recreation Token buyers have been scammed.

Picture Supply: CoinMarketCap

From buying and selling at 1 cent final Tuesday to exceeding $2,856, with the market cap of $2 Trillion, to now Zero, $SQUID Scammers ran away with $3.3 million of buyers’ cash. Though, the SEC remains to be extra involved about levying Ripple’s XRP as safety within the XRP lawsuit. The Play-to-Earn NFT recreation token known as SQUID allowed gamers to purchase the $SQUID token to take part in its on-line video games to additional multiply their holdings. Nevertheless, the brand new P2E token already displayed warning indicators, probably the most evident one being, gamers’ incapacity to promote their holdings. Moreover, as identified by BBC, the P2E token’s web site contained a number of spelling errors and grammatical errors, and as quickly because the rip-off unfolded the web site together with the social media accounts selling the token, all disappeared in skinny air.

Beneath-Regulated or Uncared for by the SEC?

However, the larger query right here is whether or not the SEC will intervene lastly and regulate the facets of the market that want its help, as an alternative of placing the safety of buyers and their monetary markets at stake to combat a endless lawsuit. The continuing XRP lawsuit is a shedding combat for the SEC, as it’s evidently interfering with the fee’s skill to carry out safety duties.

“These days new cash could be listed on decentralised exchanges on the primary day they’re created, with none regulation or due diligence…So you may be shopping for cash from anybody with any agenda.”, Jinnan Ouyang from Singapore-based crypto firm Openmining instructed BBC.

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