Not drugs or gold, Chinese officials uncover cuddly Labubu toy smuggling

Chinese customs officials have seized smuggled Pop Mart's Labubu toys, fueled by a resale boom driven by celebrity endorsements and scarcity. These bunny-elf figures, initially priced affordably, now command exorbitant prices on secondary markets. Pop Mart's profits are soaring, but the high demand has led to counterfeiting, leaving collectors vulnerable.