The AMC token is a scam and they should be sued.
Crypto Scam Alert
A Crypto Scam That Robbed Investors Off $3.38 Million
The project's whitepaper contained several spelling and grammar errors, and the website was registered just one month ago, both of which raised red flags.
As of November 1, 2021, Squid Game, the popular South Korean Netflix show that inspired the cryptocurrency, became the most hyped digital token when its price spiked to $2,861 per coin.
Squid coin's price soared by thousands of percent as it marketed itself as a cryptocurrency with an earn-as-you-play model. After peaking at $2,861, the cryptocurrency plummeted to $0.
Crypto investors commonly refer to this as a rug pull because it occurs when the creators of the crypto quick cash out their coins. This drains liquidity from the exchange.
Investors were warned by CoinMarketCap that SQUID is probably a scam, and advised to exercise extreme caution before purchasing the cryptocurrency. Yet mainstream news outlets like the BBC, Yahoo News, Business Insider, Fortune, and CNBC all wrote about how Squid Game's cryptocurrency had jumped by 83,000%. Due to this, media coverage failed to point out that the Netflix series was not officially tied in, giving the series an unwarranted facade of respectability.
In this case, pop culture is being used by scammers to gain media attention.
The AMC token scam alert
AMC entertainment stock shareholders reactions
$AMC ????⚠️WARNING⚠️???? Don’t Fall For This ⚠️???? If Adam Aaron Didnt Issue An Official AMC Coin IM NOT Buying It ⚠️???? The Apes Movement Community Announces The Official Debut Of The AMC Token ????⚠️Don’t Buy It⚠️???? #AMCTokenScandal Don’t Trust This ????⚠️ https://t.co/7Oqr9GUJoC— Kat Stryker (@KatStryker111) April 13, 2022
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