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Squid Game token up 6,700% in a week: Is it a scam?

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The release of Squid Game Season 2 on Netflix (NASDAQ: NFLX) on December 26 has reignited fascination with the hit Korean series, leading to the emergence of several new Squid Game-themed cryptocurrency tokens. Among the numerous tokens, Squid Game (squidgame.top) SQUID stands out with massive gains.  The token has rallied over 6,700% in the past week, trading at $0.0001203 after a 300% surge in the last 24 hours, according to data retrieved by Finbold from CoinMarketCap on December 30. Picks for you EU's MiCA regulation takes full effect today; Here's what you need to know 8 mins ago Bybit and SOLV Protocol announce Explosive bbSOL Maxi Rewards, a new staking campaign 48 mins ago ...

Crypto scammers drained $3b from Australians in 2022

The official report reveals that the hackers stole $3 billion from Australians in 2022 and over $38 million in June 2023 alone. According to an Australian Financial Crimes Exchange (AFCX) report, illicit actors and scammers funneled millions in stolen funds through cryptocurrency operators like exchanges and trading venues. Industry experts and regulators call for collaboration between banks and exchanges to tackle scammers ’ operations. During the last 30 days of Australia’s financial year, from July 1 to June 30 of the following year, scammers siphoned 47% of all stolen wealth to bank accounts linked to digital asset businesses in the country. You might also like: Australia’s largest bank suspends payments to crypto exchanges David Pegley, managing director of the AFCX, noted that recovering funds laundered through crypto exchanges proved “extremely difficult”, resulting in greater losses for Australians. The remark was echoed by Anna Bligh, chi...