The popular cryptocurrency known as “SquidGame Cash” or “SQUID” has collapsed amid an apparent “rug pull” scam. The digital token, which appeared in the wake of the success of Netflix’s South Korean survival drama series “Squid Game,” marketed itself as a “play-to-earn cryptocurrency” on the Binance Smart Chain (BSC). The token is not officially affiliated with Netflix. While the cryptocurrency proved to be an instant hit when it launched last week with a price of just $0.01 and saw its market capitalization quickly rise above $174 million, a number of reports were critical in noting that users were unable to resell their tokens, meaning they held little value. Over the past 24 hours, the SQUID cryptocurrency peaked at a price of $2,861 before plummeting to $0 around 5:40 a.m. ET., according to CoinMarketCap, a price-tracking website for crypto assets. It is widely believed that the creators of the digital token pulled a “rug pull”—a scam whereby the developers …