- MG Coin is not a real YouTube influencer channel; it was created for the show to give Lee Myung-gi a background as a cryptocurrency influencer whose advice led to financial disaster.
- The cryptocurrency Dalmation that Myung-gi advised his followers to invest in did not exist before late 2024 when the show premiered, but a real cryptocurrency by that name has since been created.
- Myung-gi is wanted for criminal charges like fraud and violating financial laws due to the losses his followers suffered from investing in the fictional Dalmation crypto he promoted.
Netflix‘s popular series ‘Squid Game‘ is back with a second season, delving deeper into a dystopian world first introduced in 2021. Among the mix of old and new faces, the former winner Seong Gi-hun (Player 456) returns, along with former cryptocurrency influencer Lee Myung-gi (Player 333), who is grappling with his own personal issues and debts.
The Reality behind MG Coin YouTube Channel
Despite the emergence of numerous accounts bearing variations of the username MG Coin since the premiere of ‘Squid Game’ season 2 on December 26, 2024, the reality is that this channel, as depicted in the show, does not and has never existed. The series employs this narrative device to provide the character Lee Myung-gi with a fitting backstory as a cryptocurrency and financial influencer. However, his advice led to catastrophe not only for his followers but also for himself. As a result of the collapse of the cryptocurrency he had recommended, his followers suffered losses exceeding ₩15 billion, sinking him into a ₩1.5 billion debt.
Personal Fallout from Professional Missteps
Myung-gi’s descent was further complicated by his then-girlfriend Kim Jun-hee‘s (Player 222) pregnancy. The couple had considered an abortion, but after Myung-gi began ignoring her, Jun-hee decided to keep the baby and raise it on her own. The former couple, who hadn’t spoken in six months due to Myung-gi’s decision to ghost her, came face to face in the Squid Game arena, where Myung-gi attempted to explain his circumstances. He claimed his abrupt disappearance was a necessary measure for his safety, as people were seeking revenge, leading him to abandon his YouTube channel.
The Illusion of Dalmatian: The Cryptocurrency That Never Was
Myung-gi had suggested his followers invest in a cryptocurrency called Dalmatian, which he claimed could provide financial freedom. His followers, trusting his confidence, invested heavily in Dalmatian. However, the cryptocurrency’s brief rise was followed by a catastrophic fall, resulting in massive losses. Despite his cautionary disclaimer that he was merely providing advice and not forcing anyone to take action, Myung-gi was blamed for the financial disaster.
Facing Charges and a New Reality
Myung-gi was forced to go into hiding to avoid the consequences, only emerging to participate in the Squid Game with hopes of a fresh start and new investment opportunities. His participation in the games, along with the presence of his ex-girlfriend and their unborn child, prompts him to strive to become a better person. However, his past actions have led to him being wanted for criminal charges in the outside world, including fraud and violation of telecom and financial investment laws. Notably, a cryptocurrency named Dalmatian was established following the launch of the show, and its value at the time of writing was $0.009737.
Conclusion
In conclusion, the narrative of ‘Squid Game’ season 2 explores the consequences of ill-advised investments and the personal fallout associated with professional missteps. The fictional accounts of MG Coin and Dalmatian offer a cautionary tale about the potentially disastrous outcomes of reckless financial advice.
