Is it cost-effective to buy psn games on Taobao? What are the risks?

Not that much. I guess just to scare you. Now some sellers start to fool you because you don't understand, just to let you buy more of his things. It should be cracked now. And it doesn't hurt the machine, so you should visit more. It is not recommended that you buy genuine umd disk, which is too expensive and not worth it. You might as well use the money to buy x360.