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Originally meant to simplify gift-giving, vouchers to buy mooncakes, a traditional Mid-Autumn Festival treat, now fuel a booming gray market with scalpers profiting from multiple resales. Once a symbol of celebrating the Mid-Autumn Festival, mooncakes are now at the center of an unexpected underground economy. This season, it’s not just the cakes being exchanged, but the vouchers used to buy them. The simple tradition of gifting mooncakes has evolved into a thriving resale market, where vouchers pass through manufacturers, dealers, consumers, and scalpers, with each party earning a profit — often without a single mooncake being bought or sold. A traditional pastry enjoyed during the Mid-Autumn Festival, mooncakes — usually made from lotus seed paste, red bean, or other fillings — symbolize unity and family reunion. In recent years, however, instead of giving the cakes directly, many companies and individuals exchange mooncake vouchers, which can be redeemed for the pastries at
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