Glossary
Squid Game Token (SQUID)
The November 2021 token scam loosely themed on the Netflix series — pumped to ~$2,861 within days, then rug-pulled in a single transaction draining all liquidity.
SQUID launched on PancakeSwap in October 2021, claiming to be linked to a "Squid Game"-themed play-to-earn product (no relationship with the actual Netflix series). Hype and press coverage drove the token from cents to ~$2,861 within two weeks.
On November 1, 2021, the developers executed a rug pull: drained the liquidity pool, sold their token holdings, and vanished. The contract included a "blacklist" function that prevented buyers from selling, trapping retail liquidity until the rug itself closed. Estimated losses ran to ~$3.4M, with the case becoming a canonical example of memecoin scam mechanics.