BEIJING – In China’s take on Squid Game, fraudsters are preying on the financially distressed in a slumping economy with promises of prize money, debt restructuring and other schemes that are not always what is promised.
Unlike the dystopian South Korean TV series, which returns to the small screen for a second season on Dec 26, Chinese players taking on “self-discipline” challenges do not risk their lives if they lose.
But courts have found some participants in isolation challenges – who pay hundreds of dollars to stay in a room for days, following prescribed rules in the hopes of winning as much as 1 million yuan (S$186,156) – are being scammed.
And regulators are warning people about dodgy debt relief claims.
Isolation challenges,…
