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After more than a year of investigation and recovery in the SQUID token fraud case, the perpetrator has just been arrested. This is great news, since since his withdrawal we have almost given up hope of ever getting our hands on him, as he has covered our tracks. As a reminder, 2022 was a particularly complex year for the industry. Between mass hacks and the market itself turning red, many crypto projects either collapsed or showed vulnerabilities, paving the way for crypto scammers. We also remember that their modus operandi was simple, using a Netflix (Nasdaq Netflix) offer to encourage people to invest heavily in the SQUID token. Well thought out method, especially since the encoding in question has nothing to do with the problem.
A reporter deconstructs the network behind the crypto scam
For a little over a year, it has been difficult to pin down exactly who is behind the SQUID scam. Fortunately, the investigative reporter continued to investigate. It was his investigations that made it possible to find new items leading to the suspects. We realize that, in fact, the scammer was profiting from the launch of the Korean offer Netflix The Squid Game To set up his encryption trick. It would work great and almost ruin many investors since then $16 million It will fly off without a trace.
In an effort to be more effective, crypto scammers will create a network with a name Netflix The Squid Game. The goal of this idea is to increase the popularity of the token and thus increase its value in the market. The show would quickly be a success, to the point of attracting the attention of major groups such as BBCAnd Hey hoWhere and CNBC. These media will go so far as to alert traders of the scam that has been put in place.
Moreover, after a month, the task was completed and the fraud network took its toll with huge booty. It was at this time that the journalist Janey MacGregor And the expert Cipher Ciaran O’Connor Attack criminals. They will put together a series of podcasts where victims will testify, gathering clues that will eventually lead them to the scammers. Even if each time they come close to confronting the alleged perpetrators in their stronghold of Hong Kong.
conclusion
In short, the multiple investigations with MacGregor and O’Connor lead them to Hong Kong. And therefore , Every time they go to a lead on site or are contacted, the noose is tightened on their squid suspects. Fearing for their lives, they decide to hand over all the information they have to the police for further investigation. This network has been behind similar hacks since 2013. theThe police know that by getting their hands on them, many unanswered cases will be reopened.
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A PhD student in financial law and an experienced SEO web editor, Cédrick Aimé is passionate about cryptocurrency, trading, etc. He naturally participates thanks to his articles in the daily blockchain revolution in order to better democratize DeFi.
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