A 4.5m-sized doll from Netflix's original Squid Game stands in Sydney on the 29th.

U.S. media, including CoinDesk, a cryptocurrency media outlet, reported on the 1st (local time) that cryptocurrency (virtual currency) and squid game token under the theme of Netflix's popular original drama "Squid Game" were eventually fraudulent.

Squid game token developers stole it by cashing in cryptocurrency and ran away.

According to Coin Market Cap, a global coin market broadcasting site, the price of the cryptocurrency "SQUID," which once soared to $2,861 per coin, plunged to $0.00079 in five minutes.

The trading volume remained unchanged at 11 million, but prices suddenly plunged. This is because developers fled by exchanging all coins for cash. A so-called 'rugg pull' has occurred. Lug glue means suddenly pulling out the carpet under your feet.

Earlier, the coin became a hot topic around the world as major media such as the BBC of the UK and CNBC of the United States reported that squid game tokens were released.

Squid game token news article.

Developers promoted that online squid games can be played with squid game tokens. Thanks to the sensational popularity of the squid game, the coin soared.

Launched at a price of $0.01 per coin on the 26th of last month, the coin surged 2,400% during the day. The market capitalization also reached $174 million.