Cryptocurrency protocol Tsuzuki Inu has done the same thing as SQUID again
Surely people still haven’t forgotten SQUID, a cryptocurrency protocol that has continuously increased in price and then dropped constantly in just a few days, stemming from a popular movie called Squid Game. And then this time, another cryptocurrency protocol is the same, named Tsuzuki Inu. They have been entangled in a suspected exit scam of millions of dollars in investors’ funds, highlighting the problems posed by the dog and the meme-themed cryptocurrency.
Accordingly, the price of Tsuzuki Inu (TZKI) has dropped by almost 100% and is trading at $0.000000000000201 at press time.
Much like SQUID, yet another memecoin pulls off a million-dollar scam
Twitter users noticed that the developers Tsuzuki Inu allegedly took all the liquidity from its investors. Transaction history on Etherscan shows they converted ERC-20 tokens to 265 Ethereum wrapped, worth over $1,157,125.
TZKI has been in circulation since March of this year and has advertised itself as both a meme and a gaming currency. It also plans to add play for money features in the future, along with a DEX wallet. It recently made a free giveaway, possibly to increase the legitimacy of the token and its price. TZKI has a total supply of 1 trillion with locked liquidity. Reportedly, the developers asked investors to swap their TZKI tokens with TZKI v2 tokens by sending them to the swap contract account.
Since then, the protocol’s Twitter channel has been disabled, while the Telegram channel has remained unresponsive. The Tsuzuki Inu scam is reminiscent of the Squid Game token pull that the market fell victim to recently. The digital token inspired by the hit Netflix series of the same name crashed days after its valuation was boosted by thousands of percent, with developers fleeing for $3.38 million.
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