A short video circulating on social media shows the exact moment a crypto streamer lost his shit when a rug pull tanks the previously high-flying Squid Game token to zero.
Content creator Simon Zawa was live-streaming analysis of the $3.5 million crypto scam inspired by the popular Netflix show earlier this week.
“So, the market cap is $2.168 trillion. And now the market ca — OH!”
“Owww! We went to zero! Eeeooowwww!” shouted Zawa as the token collapsed from $2,860, giving us one of crypto’s most memorable moments since Carlos Matos yelled “Bitconneeeeect!” in 2018.
Zawa was quick to point out he had no connection to SQUID, instead claiming he was just lucky enough to be in the right place at the right time.
Indeed, when Twitter alleged he lost money when the token went belly up, he responded by accusing the offending account of lying and referred to SQUID as “dog shit.”
Still, that hasn’t stopped him trying to profit from the situation. Zawa has since turned the now immortalized clip into an NFT for sale via OpenSea with a current top bid of 1 ETH ($4,487).
In a message posted in the SQUID Telegram group on Monday, the project’s ‘developers’ simply said:
“Squid Game Dev does not want to continue running the project as we are depressed from the scammers and is [sic] overwhelmed with stress.”
‘Squid Game’ crypto was too real for some
One Shanghai-based trader was reportedly so caught up in the hype, he lost his entire $28,000 life savings by investing in the purported “play-to-earn” cryptocurrency.
Speaking anonymously to CNBC, he said:
“My rush to buy this token is for a single idea that went into my brain that ‘Squid Game’ is very, very popular now, and its token must be popular now,” our emphasis.
“It’s a tragedy. I don’t know how to recover my loss,” they said.
All in all, SQUID was “alive” for just seven days — during which time its price exploded nearly 6,500,000% (from $0.04417 to $2,861).
Looking for bite-sized news? We’re on Twitter.