Player 333's MGCoins in Squid Game Real and Being Traded? Here's the Explanation

In the latest season of Squid Game, a new and polarizing character captured the attention of crypto-savvy viewers: Player 333, also known as Lee Myung-gi. 

Known in the virtual world as “MG Coin,” Myung-gi is portrayed as a disgraced crypto influencer with a dark past rooted in fraud, regret, and twisted ambition. 

His character has sparked curiosity and confusion online—especially surrounding the mysterious MG Coin. Many are now asking: Is MG Coin real? Is it being traded? And who exactly is Player 333 in Squid Game?

This article uncovers the truth about Player 333, his crypto ties, and whether MG Coin exists beyond the screen.

Who is Player 333 in Squid Game?

Player 333, or Lee Myung-gi, is a complex and controversial finalist in the 37th Squid Game tournament. 

Once a self-proclaimed crypto guru and YouTube influencer under the alias “MG Coin,” Myung-gi lured unsuspecting investors into shady blockchain projects—including the infamous “Dalmatian” token scam, which wiped out ₩15.2 billion in savings.

Haunted by guilt, betrayal, and survival instinct, Myung-gi enters the Squid Game in hopes of repaying his massive debt and perhaps regaining a sense of redemption. His persona—arrogant, strategic, but deeply conflicted—earned him nicknames like “Mr. Rational” and “Amazing Myung-gi” from other players, though many still questioned his true intentions.

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Player 333 and Crypto: The MG Coin Saga

Throughout the series, Player 333’s history with crypto investing plays a crucial role in shaping his character arc. 

Before joining the deadly tournament, Myung-gi promoted cryptocurrency content online and convinced fans, friends, and even his girlfriend, Kim Jun-hee, to invest in a project called “Dalmatian.” When the coin turned out to be a rug pull, he fled, becoming a wanted fugitive.

His online moniker, MG Coin, was not just a brand—it became a symbol of deceit and failed promises. Even in the games, Myung-gi talks about new investment strategies, illustrating how his obsession with digital assets runs deep.

Is MG Coin Real and Being Traded?

Despite growing online chatter, MG Coin is fictional and created solely for the Squid Game universe. It is not a real cryptocurrency and cannot be found on any blockchain network. 

The coin's name and backstory serve as a narrative device to highlight crypto-related scams, the blurred line between ambition and greed, and how digital deception can lead to real-life consequences.

Still, some fan-made tokens or unofficial “MGCoin” versions have surfaced online—often as memes or speculative projects—but these are not affiliated with Netflix, the show’s creators, or any real-world financial institution. Caution is advised if anyone attempts to promote or sell a so-called MG Coin in real life.

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Conclusion

Player 333 in Squid Game isn't just a contestant—he's a symbol of modern-day digital risk, representing the highs and lows of crypto culture. 

While MG Coin may not be a real cryptocurrency, its presence in the series echoes very real fears and stories within the Web3 and investing world.

So, if you're wondering whether you should buy into MG Coin: don't. It’s a fictional token from a fictional character—but the lessons Myung-gi teaches us about greed, trust, and accountability are all too real.

FAQ

Who is Player 333 in Squid Game?

Player 333 is Lee Myung-gi, a former crypto influencer who joined the 37th Squid Game to escape debt and redeem himself.

Is MG Coin a real cryptocurrency?

No. MG Coin is a fictional token used in Squid Game as part of Player 333’s backstory.

Did Lee Myung-gi scam people with crypto?

Yes, in the show’s universe, Myung-gi promoted a fake token called Dalmatian, causing many—including his girlfriend—to lose money.

Is MG Coin being traded anywhere?

MG Coin is not an actual cryptocurrency and is not officially traded or recognized.

What does Player 333 represent in the show?

He embodies the dangers of blind investment, digital deception, and how crypto ambition can lead to real-world tragedy.