Squid Game 2 Mirrors Crypto Scams, Ending in Disappointment

- Squid Game Season 2 Causes Stir by Addressing Cryptocurrency Scam - Criticism for Lack of Narrative Balance Leads to Plummeting Stock Prices for Netflix-Related Companies [Unblock Media] Season 2 of 'Squid Game' has caused quite a sensation by focusing on a cryptocurrency scam. The third episode particularly highlighted a rug pull incident, sparking discussions among drama fans. On Twitter, the hashtag '#SquidGame2' received explosive reactions, with many people participating in related discussions. The 'Dalmatian (DAL)' coin featured in the drama was revealed to be part of a major scam affecting thousands of victims. This scenario is reminiscent of the real-life scam involving the 'Squid Game (SQUID)' coin listed on a Singaporean exchange, where developers exploited the drama's popularity to attract investors before absconding with substantial sums of money. This dramatization starkly illustrated the dangers of the cryptocurrency investment market. Due to its decentralized nature, a cryptocurrency rug pull often falls through regulatory gaps, leading to frequent scams. This heightens investor awareness of the high risks involved in cryptocurrency investments. A rug pull scam occurs when developers stop their project unexpectedly, siphon off investors' funds, and vanish. The Financial Times reported that cryptocurrency rug pulls continued to increase in 2023, resulting in losses exceeding $3 billion on decentralized finance (DeFi) platforms alone. In this context, the drama has been praised for its realistic portrayal of the dark side of the cryptocurrency market. However, foreign media reviews of the drama were not positive. Following a critical review from The New York Times, trading volumes surged, resulting in a sharp decline in stock prices. This pattern highlighted the disparity between the expectations and actual quality of Netflix's new series. Significant stock price drops were noteworthy. Artist United's stock fell by 29.96% in a single day, closing at 13,000 KRW. Wizwick Studio (-25.31%), Dexter (-24.08%), and Showbox (-19.16%) also recorded sharp declines. According to The Korea Economic Daily, the overheated investment before the drama's release and subsequent disappointment due to quality controversies were key factors in the stock drop. These stock declines directly reflect how criticisms from foreign media and fan disappointment impact Netflix-related stock prices. Netflix content considerably influences related companies' stock prices. Just as the success of the 'House of Cards' series boosted Netflix's stock, the success or failure of Netflix content can significantly impact the investment market. This underscores the importance of maintaining the quality of content. Variety praised 'Squid Game' Season 2 for tackling contemporary themes but noted that the lack of balance in the story's development confused some fans. In conclusion, while 'Squid Game' Season 2 garnered considerable attention by addressing the real-world issue of cryptocurrency scams, critical reviews negatively affected the related stock market. Yonhap News reports that the production companies are now focusing on their next content plans and global market strategies.