Who took the money in Squid Game season 3? The identity revealed

30 June 2025, 20:56 | Updated: 30 June 2025, 20:59

By Katie Louise Smith

The final episode of Squid Game season 3 reveals exactly who took Gi-hun’s money and what they used it for.

Wondering who took Seong Gi-hun’s money at the end of Squid Game season 3? Here’s your answer.

When he won the games back in season 1, Gi-hun took home the full 45.6 billion won prize money. Instead of leaving it in the bank, he took it all out in cash, gave a suitcase full of money to Sang-woo’s mother and, as we later come to discover, kept the rest locked in a hotel room.

At the end of season 3, following the brutal events of the games (and Gi-hun’s tragic death), we discover that Gi-hun’s money is still in the hotel room as a mysterious figure breaks into the room. Then, we find out through Hwang Jun-ho that the money has disappeared…

So, who took it? We actually find out right at the end of the series.

WARNING: Spoilers ahead for Squid Game season 3?

Who stole Gi-hun’s money from the hotel in Squid Game?

Only a few people knew about the stash of money, including Gi-hun, detective Hwang Jun-ho and Woo-seok.

In the final episode of Squid Game season 3, following Gi-hun’s death and the end of the games, we see a suited figure walking down a dark corridor. As they shoot the lock and open the door, Gi-hun’s mountain of cash is sat there, untouched.

Later, after Woo-seok is released from prison, Jun-ho confirms that all the money had already been taken when he returned to the hotel room.

In the car, Woo-seok speculates that Gi-hun himself went back to collect it. “I really hope it was,” Jun-ho replies wistfully.

Neither of them are aware that Gi-hun had died in the games.

So, who actually took it? It was the Front Man who took Gi-hun’s money – for a very important reason, of course.

At the end of the episode, the Front Man (In-ho) arrives at a house in Los Angeles and meets Gi-hun’s daughter Ga-yeong. He relays the news that Gi-hun has died and gives Ga-yeong a box of his belongings. Inside the box is the golden credit card given to winners of the games, in Gi-hun’s name.

In-ho took Gi-hun’s money and deposited it back into an account so that Ga-yeong would inherit the entire amount.

It’s unclear exactly how much Ga-yeong ended up with, as Gi-hun had already given a chunk to Sang-woo’s mother and Sae-byeok’s brother Cheol at the end of season 1.

So there you have it! It was Hwang In-ho, the Front Man, the man who betrayed Gi-hun in season 2, the man who refused to stop the games and put an end to the brutal killings.

Attempting to do one last good thing… but actor Lee Jung-jae doesn’t think it was a kind-hearted move from In-ho.

Speaking to Tudum, he said: “When I saw the scene where the Front Man goes to see Ga-yeong, I thought, ‘Gi-hun’s going to be so mad he’s going to rise from his grave and just jump out of the coffin’. That’s how upset he was going to be!”

Squid Game 3 cast reveal what they took from the set!

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