According to CNN broadcasts, the price of a cryptocurrency based on the popular original drama 'Squid Game' by streaming company Netflix has fallen to '0 dollars'.
It turns out that these cryptocurrency developers actually ran away by stealing them by monetizing them.
Citing cryptocurrency information site CoinMarketCap, CNN reported that the price of the cryptocurrency 'SQUID', which once surged to $2,861 per coin on the 1st of local time, dropped to $0.00079 in 5 minutes.
Cryptocurrency developers have committed a so-called 'rug pull' scam, in which all these coins are exchanged for cash to lower their value.
Before buying the rug pull, Squid's market capitalization exceeded $2 million, and our money exceeded 2.3 billion won, CNN reported.
This cryptocurrency was launched on the 26th of last month at a price of $0.01 per coin.
Developers advertised that cryptocurrency Squid can be used as a game token in the 'Squid Game Project', which made various games appearing in the drama 'Squid Game' into real online tournament games.
However, CoinMarketCap has issued a warning to investors to be 'extremely careful', saying there is a high probability of fraud, and Netflix has also said that it has nothing to do with the cryptocurrency.