This summer, the monster toy Labubu charmed the world with its cute and chaotic energy, commanding resale markups that would make day traders or Rolex flippers blush. One secret blind box edition was selling for over 2,000% above retail prices, according to Nomura. Last month , robbers in California staged a $30,000 heist.

Now, there are signs that the secondary market is losing steam — scalpers are panic-selling, watching prices crater by half or more. But Pop Mart , the Chinese company behind the phenomenon, said the crash was just what they wanted.

"Our products are made for people who really connect with the art and joy they bring — and we love seeing that passion. Making this art accessible is key for us," Pop Mart said in an emailed statement to CNBC.

"If purchases are

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