A local family has officially entered debt restructuring after accidentally ordering a four-kilogram Sri Lankan crab at a Clarke Quay tourist trap.

What was meant to be a celebratory dinner turned into a violent massacre of orange gravy as the patriarch realised "Market Price" actually refers to the current valuation of a luxury penthouse.

Witnesses watched in horror as the family spent three hours frantically licking the ceramic bowl, desperate to extract every cent of value from a sauce that is essentially just spicy ketchup and cornstarch.

"Wah lau, the bill come out I thought I buying the whole restaurant or what," said the father, while picking shell fragments out of his bleeding gums.

"The crab very shiok but now I stay in one-room flat forever liao, damn sian."

The Singapore Tourism Board has reportedly endorsed the financial ruin, claiming that being fleeced by a crustacean is the most authentic local experience available.