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Approximately thirteen months ago, a multitude of cryptocurrency investors were deceived by a malicious crypto scam that falsely purported to be associated with the renowned Netflix (NASDAQ: NFLX) program. This fraudulent ploy sought to mislead individuals into investing in SQUID token – a digital currency that had absolutely no connection to the show whatsoever.
Squid Game crypto was a puzzle-based cryptocurrency that made its official debut back in October 2018. It is characterized by a unique game-like structure wherein users need to solve puzzles in order to mine coins and track the blockchain’s progress. The game is powered by an Ethereum smart contract and utilizes proof of work (PoW) consensus protocol for its transactions. Players compete against each other to guess the correct answer, resulting in different miners finding solutions at varying speeds, which adds diversity and variability to the reward system of Squid Game crypto. As with most cryptocurrencies, it’s also possible to exchange Squid tokens on various exchanges such as Uniswap. Additionally, users can stake their tokens and receive dividends from staking rewards generated through platform usage fees or other fund options available within Squid Game crypto’s ecosystem.
The Squid Game Crypto is a type of cryptographic puzzle invented by computer scientists Scott Contini and Matthew Kwan in 2001. It involves a grid of letters that need to be decoded using a set of clues, usually located at the corners or sides of the grid. The objective is to decipher each letter and ultimately find out the secret message hidden within the puzzle. In order to solve these puzzles, players must use their knowledge of cryptology, mathematics and logical reasoning. The Squid Game Crypto has become an increasingly popular pastime around the world.
A little more than a year has passed since countless cryptocurrency investors were duped into investing in SQUID token, a cryptocurrency that had no link to the popular Netflix (NASDAQ: NFLX) show, by a scam that exploited the name of the show to deceive others into doing so.