Squid Game Crypto Scammer Captured by Law Enforcement

A journalist’s investigation has led to the discovery of the originators of the SQUID token scam, which used the name of the popular Netflix show Squid Game to trick people into investing in a cryptocurrency that had no connection to the show.

The scam, which took place over one year ago, resulted in a financial loss of $16 million for its victims.

Investigative technology journalist Janhoi McGregor and tech expert Ciaran O’Connor began their investigation by using a video of the scam, which was watermarked with the name of one of the suspects, as their starting point.

They were able to track the scammers through their use of a domain name company, as well as their use of an alleged legal firm that charged victims money to sue the scammers, but ultimately disappeared with their money.

The investigation led to the discovery of a name that was connected to scams dating back to 2013.

Further investigation revealed that the suspect was located in Hong Kong, and that the technology company they had established in April 2021 in South China had been dissolved just six days after the investigators sent a phishing email to the scam suspect.

McGregor and O’Connor decided to travel to Hong Kong to try and confront the scammer, but found that the police had already been to the suspect’s apartment in connection with the scam about six months earlier.

Although the scammer was not present, the investigation provided enough evidence for McGregor to believe that he had uncovered the identity of the scammer, but he expressed concern for his own safety.