A Squid Game-themed cryptocurrency coin ended up being a massive scam and the people behind it made off with $3.3 million according to The Washington Post. Meme coins and other get-rich-quick schemes themed around NFTs, Cryptocurrency, and day trading have taken the world by storm over the last year and change. (Read more about the negative ecological effects of such movements right here.) SQUID was a currency set up around the fervor surrounding the Netflix original. The value of this particular coin soared to $2,860 over time but then went down to basically nothing as the creators high-tailed it out of there with a relative fortune. As of now, there is no way to hold the creators of these meme coins accountable if they choose to take the money and leave the investors holding the bag. (Complicating matters further is the fact that cryptocurrency, by nature, is hard to trace. Making the entire enterprise ripe for people looking to take advantage of poor investors looking for a quick influx of cash.)
