• Bitcoin
  • NFT
  • Binance
  • ETH
  • DeFi
  • Metaverse
  • IDO
  • Coinbase
  • Solana
  • ETF
  • FTX
  • GameFi
Newsletter
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
  • Home
  • Crypto News
  • Market
  • Learn
No Result
View All Result
CoinLive
No Result
View All Result
Home Crypto News

Binance is conducting an investigation into the SQUID token following the “terrible” crash earlier in the week

189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

After the “terrifying” SQUID token incident, correct to the plot inspired by the hit Netflix film Squid Game, the world’s top cryptocurrency exchange Binance has begun conducting an investigation into this platform to help the victims.

Binance is investigating SQUID after the incident "horrified" at the beginning of the week
Binance is conducting an investigation into SQUID following the “terrible” incident earlier this week

Binance has officially confirmed that the SQUID task is a major scam. At the identical time, the exchange is exploring possibilities to assistance individuals harmed, like blacklisting addresses connected with developers and implementing blockchain analytics to determine terrible actors, triggering a lightning-speedy “dump” in much less than five seconds of the platform.

Related articles

New CEO Richard Teng wants to turn Binance into "a normal financial company"

New CEO Richard Teng desires to flip Binance into “a normal financial company”

November 27, 2023
Binance Labs invests $3.15 million in Open Campus, EDU builds columns

Binance Labs invests $three.15 million in Open Campus, EDU builds columns

November 27, 2023

– See extra: Tokens based mostly on the Squid Game film skyrocketed, but there had been quite a few “suspicious” indications

Additionally, Binance will also give the findings and proof to law enforcement officials in the area for a ideal resolution. Although the SQUID task is implemented in accordance to the Play-to-Earn model on Binance Smart Chain (BSC), Binance emphasizes that BSC is an open supply ecosystem and for that reason the enterprise does not have the proper to oversee the tasks. Internet.

“These types of scam projects have become all too common in the DeFi space as cryptocurrency investors eagerly seek rapid growth with high returns without due diligence. Before making an investment decision.”

The price tag of the SQUID token has dropped to practically zero, and the developers declare they have abandoned the task. According to a leaked supply from Binance, the task crew seems to be utilizing Tornado Cash to cover their tracks. However, the injury is nevertheless there and it would seem that the chance of recovery is not possible. This is also a further situation of “awakening” for traders to “shady” tasks, which are absolutely driven by the FOMO wave and have no strong basis developed in the potential behind the platform.

Synthetic currency 68

Maybe you are interested:


Join the chat group Coinlive Chats Let’s go over sizzling subjects of the DeFi industry with Coinlive admin crew !!!


Maybe you are interested:

Tags: BinanceconductingcrashearlierInvestigationSquidTerribleTokenweek
Share76Tweet47

Related Posts

Turkey Blocks PancakeSwap and 45 Crypto Websites

by shark
July 7, 2025
0

Turkey's CMB blocks PancakeSwap and 45 crypto sites amid regulatory crackdown.

Bitcoin Whale Address Potentially Hacked Raises Alarms

by shark
July 7, 2025
0

A dormant Bitcoin whale address containing around $8.6 billion has shown unusual activity, sparking fears of a potential hack and...

World Liberty Financial Proposes Community Vote on Token Trading

by shark
July 7, 2025
0

World Liberty Financial, a DeFi platform backed by the Trump family, announces a community vote to decide the trading status...

Binance Founder Reflects on Crypto Entry Timing

by shark
July 6, 2025
0

Changpeng Zhao's reflections highlight the impact of early Bitcoin adopters and address scrutiny of Binance's transparency measures.

Amber International Shares Decline After Crypto Reserve Expansion

by shark
July 6, 2025
0

Amber International sees a 6.7% drop in shares, linked to its crypto reserve expansion including Sui, XRP, and BNB.

Load More

Tags

analysis announces Bank billion Binance Bitcoin Blockchain BTC CEO Coin Coinbase Crypto cryptocurrencies Cryptocurrency DeFi ETH Ethereum Exchange Finance FTX fund game General News Information Investment Latest Launch launches market Metaverse million Network News NFT platform Price project Protocol Review SEC Solana Token trading users wallet

Recent Posts

  • 4 Top Altcoins to Watch in 2025: BlockDAG, HYPE, ONDO, and XMR Compared
  • Turkey Blocks PancakeSwap and 45 Crypto Websites
  • Bitcoin Whale Address Potentially Hacked Raises Alarms
  • World Liberty Financial Proposes Community Vote on Token Trading
  • Binance Founder Reflects on Crypto Entry Timing
  • Amber International Shares Decline After Crypto Reserve Expansion
  • Arctic Pablo, Artificial Liquid Intelligence, and Shiba Inu: Top Meme Coins to invest in This Week
  • Turkey Blocks Access to 46 Crypto Platforms
  • About
  • FAQ
  • Contact Us
  • IGO
  • Altcoin
  • Terra
  • Launchpad
  • P2E
  • META
  • AXS
Email us: [email protected]

© 2021 CoinLive - Crypto News 24/7

No Result
View All Result
  • Home
  • Crypto News
  • Market Analysis
  • Learn

© 2021 CoinLive - Crypto News 24/7