A legal firm charged the victims of SQUID rugpull money to sue the scammers, and then disappeared with their money, with some claiming that it was the same people behind the SQUID scam

After people had lost their money to the rug pull in November of 2021 and after some time had passed, a legal firm came out of nowhere and started claiming to want to sue the developers of the rug pull, and therfore charging the victims of the rug pull money to start the lawsuit.

Something more interesting is that there a reddit account, which was created only four days ago before the Rugpull had taken place, advertising this fake legal firm, directing people who had lost their money to them.

This "Legal firm" took the victims' money and dissappeared with it, and some people claimed that it was the scammers behind the SQUID coin.

Be careful who you take advice from on reddit, you never know what they're promoting or why, like in this case.

They had tried to make themselves look legit and people wanting to punish the scammers acted too hastily yet again.

The Squid rug pull was very obvious to begin too, with them having admitted in the whitepaper that you couldn't sell your coins unless you had bought another coin which was more expensive, essentially being forced to hold.

FOMO made people buy the coin with no research at all, and buying something you have no idea about does have consequences as we can see.

It's usually the projects that are hyped up the most that turn out to be either rugpulls or have no utility at all and die off with as the hype does.

An article about this case:

https://www.thismorningonchain.com/articles/defi/squid-token-a-double-dip-scam/