Rocket ICO Giving you a better way to make your decisions and enjoy the process of ICO backing

  • Lydian ICO
  • Markets
Latest News
  • Germany’s Deutsche Telekom set to become a Polygon validator   |   04 Jun 2023

  • Crypto.com completes its licensing process in Singapore   |   03 Jun 2023

  • Ethereum gas fee sinks close to 70% in under a month   |   03 Jun 2023

  • Circle set to launch USDC natively on Arbitrum   |   03 Jun 2023

  • TRX is live on Ethereum via BitTorrent Bridge   |   02 Jun 2023

  • MakerDAO votes to drop Pax Dollar (USDP) stablecoin from its reserves   |   02 Jun 2023

 
Home» Cryptocurrency»Binance to track scammers behind Squid Game token that fell 99%

Binance to track scammers behind Squid Game token that fell 99%

James Gordon 04 Nov 2021 Cryptocurrency Comments Off on Binance to track scammers behind Squid Game token that fell 99% 216 Views

In a report from CNBC, Binance noted that the scam was likely an attempt to cash in on hype around blockchain and crypto. The company is investigating whether or not this particular token had ties with other tokens it issued through its platform before and after the fall of Squid Game Token.

According to Barrons, a Binance intelligence team is now analyzing the blockchain and gathering crucial data and information that can aid authorities in apprehending the Squid Game token scammers.

The lucrative SQUID cryptocurrency was inspired by the South Korean program “Squid Game” and has skyrocketed in value in only a few days.

However, when SQUID values plummeted to zero, the token’s appeal swiftly waned, and its creators chose to abandon their project and flee with the money invested.

Investigative tactics used by Binance

Binance is said to be looking at new ways to track down the crooks. The business is “blacklisting addresses associated with the developers and is applying blockchain analytics to detect the crooks,” according to a spokesman.

The exchange will also provide authorities with any pertinent information discovered in order to aid them in their inquiry. The play-to-earn SQUID coin was created on Binance Smart Chain, although the exchange has said that the protocol is an open-source ecosystem and that the business has no control on initiatives created on the network.

Binance’s spokesman also noted that these scamming methods have grown rather popular in the crypto field, and that the company is working hard to discover as many leads as possible in order to track down the true perpetrators.

The fraudsters utilized a bitcoin mixing service called Tornado Cash to hide their identities, according to the platform. Tornado Cash’s creators have yet to respond.

When it comes to combating cryptocurrency crime, Binance has a positive track record. The exchange has previously assisted police in revealing the identity of a criminal organization known as FANNYCAT, which is known for coordinating repeated ransomware operations and demanding cryptocurrency payments from victims.

Gain a competitive advantage in the cryptoasset market.

As a premium Edge member, you’ll get additional crypto insights and context in every story.

Analyses of the whole chain

Snapshots of prices

a little more context

For just $19 a month, you can become a member right now. Examine all of the advantages.

Deposit and Earn Up to $3000 Bonus

Like what you’ve seen so far? Stay up to date by subscribing.

2021-11-04
Facebook Twitter Stumble linkedin Pinterest More

Authors

Posted by : James Gordon
Previous Article :

Will SHIB Coin Reach 50 cents?

Next Article :

Crypto Investor News for 11/3/21

Related Articles

Footprint Analytics: Guide to Moonriver (MOVR)

Footprint Analytics: Guide to Moonriver (MOVR)

James Gordon 24 Dec 2021
Why is Singapore rejecting the majority of crypto licensing applications?

Why is Singapore rejecting the majority of crypto licensing applications?

James Gordon 22 Dec 2021
Less than 1% Bitcoin addresses control 27% of its total supply

Less than 1% Bitcoin addresses control 27% of its total supply

James Gordon 22 Dec 2021

ABOUT ME

lourari bra

lourari bra

Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus pulvinar eros id diam gravida, id pharetra ligula cursus. Sed dapibus lectus augue, non volutpat lorem porttitor vel.

Popular Posts

Germany’s Deutsche Telekom set to become a Polygon validator
Markets

Germany’s Deutsche Telekom set to become a Polygon validator

rocketman 04 Jun 2023
Bitcoin Profit Review 2021: Is It a Scam Or Legit?
Reviews

Bitcoin Profit Review 2021: Is It a Scam Or Legit?

rocketman 22 Jul 2021
Yuan Pay Group review 2021 – Is it a Scam or Legit?
Reviews

Yuan Pay Group review 2021 – Is it a Scam or Legit?

rocketman 26 Jul 2021
Immediate Bitcoin Review: Does it work?
Reviews

Immediate Bitcoin Review: Does it work?

rocketman 27 Jul 2021
Bitcoin Era Review: Is this a scam?
Reviews

Bitcoin Era Review: Is this a scam?

rocketman 27 Jul 2021

Advertisement

Recent Posts

  • Germany’s Deutsche Telekom set to become a Polygon validator

    Germany’s Deutsche Telekom set to become a Polygon validator

    rocketman 04 Jun 2023
  • Crypto.com completes its licensing process in Singapore

    Crypto.com completes its licensing process in Singapore

    rocketman 03 Jun 2023
  • Ethereum gas fee sinks close to 70% in under a month

    Ethereum gas fee sinks close to 70% in under a month

    rocketman 03 Jun 2023
  • Circle set to launch USDC natively on Arbitrum

    Circle set to launch USDC natively on Arbitrum

    rocketman 03 Jun 2023
  • TRX is live on Ethereum via BitTorrent Bridge

    TRX is live on Ethereum via BitTorrent Bridge

    rocketman 02 Jun 2023

htmagazine
About HTmagazine was created in 2015 , and covers the intersection of Technology, Lifestyle, Business, Entertainment, and Culture.

Follow us

Newslater

Those an equal point no years do. Depend warmth fat but her but played. Shy and subjects wondered

Random Posts

Germany’s Deutsche Telekom set to become a Polygon validator

Germany’s Deutsche Telekom set to become a Polygon validator

Crypto.com completes its licensing process in Singapore

Crypto.com completes its licensing process in Singapore

Ethereum gas fee sinks close to 70% in under a month

Ethereum gas fee sinks close to 70% in under a month

Circle set to launch USDC natively on Arbitrum

Circle set to launch USDC natively on Arbitrum

TRX is live on Ethereum via BitTorrent Bridge

TRX is live on Ethereum via BitTorrent Bridge

Tags

Binance Bitcoin BTC buy CEO crypto cryptos heres launches market places price today token top
© Copyright 2021, All Rights Reserved