The AMC token is a scam and they should be sued.

Crypto Scam Alert

OPINION Apr 13, 2022 0 Add to Reading List

The AMC token is a scam and they should be sued.

As cryptocurrencies have become more popular and an evolving market, scams involving cryptocurrencies have increased. For this reason, investors should protect themselves from fraudulent cryptocurrency exchanges and tokens.

Fraudsters who seek to profit from the vulnerabilities of investors and non-investors alike see everyone as a potential victim.

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

The most recent crypto scam to come up is The AMC token, investorturf would like to issue a warning to think twice before putting your money, AMC entertainment did not issue an official token.

This token has copied AMC entertainment logo without permission, anyone who invests in this token will likely suffer the same consequences as those who invested in the squid game coin, and yet again the media is pushing a possible a scam just like they did with the squid game coin, Yahoo finance has published an article promoting this coin.

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

.@CEOAdam sir I humbly ask that you send a cease and desist and/or other form of legal demand to those who created this scam of a token pic.twitter.com/TsKUFbF8pZ — Dr. Monty (@ThatGuyAstro) April 13, 2022

This has nefarious scam written all over it, right down to the fake logo and name similar to the AMC logo. Not a chance I’ll buy into this narrative!#TAMC https://t.co/tXZhc1QzvZ — Kory (@koryamc1) April 13, 2022