Crypto holders have questioned KuCoin’s timing after the exchange released a Christmas Squid Game event.
The event comes a month after the very public Squid Game Token rug pull that saw the new cryptocurrency crash by 99.9% in mere minutes.
This hasn’t phased KuCoin, however. It has jumped on the Squid Game trend, offering a potential $300,000 USDT to those who participate.
KuCoin Squid Game Promo Comes At An Odd Time
While the event has nothing to do with the rug-pulled token, the theme of KuCoin’s Christmas event was met with scepticism by cryptocurrency users. “Is it just me, or is it maybe a little too soon for anything crypto and Squid Game related?” said one Twitter user.
Redditors on r/CryptoCurrency expressed similar opinions. “That rug pull has tainted anything related to Squid Games for me,” said one Redditor. “Maybe they are bullish on the short term memory of the people in Crypto,” said another.
However, one user defended KuCoin’s promotion. “It has nothing to do with the Squid Token. It's a competition that they're naming after the show,” they said.
Others suggested this was intentional by KuCoin to drum up further interest in their promotion. “Seems to have done exactly what they planned for the promo to do,” they said. “Create controversy and bring eyes to their promotion and exchange.”
In an even bolder move, some users attempted to promote a new Squid Game Token (SGT) in the replies to KuCoin’s Twitter post.
With $300,000 USDT on the line, KuCoin’s event requires users to trade over a certain volume threshold each day to gain a share of the prize pool.
The Squid Game Token rug pull allegedly saw its developers exit the project with over $3m in liquidity. The token appears to have survived the rug pull, however and is now trading at $0.1294 at the time of writing.
[Image: Andrew Haimerl/Unsplash]