XRP Scam in South Korea Defrauds Investors of $19 Million
A fake Flare Network staking site has drained 3.4 million XRP (CRYPTO: XRP) from 71 investors, with total losses potentially reaching $19 million as investigations continue, according to a report by the Seoul Metropolitan Police Agency on Thursday. How The Scam Actually Worked As South Korean news outlet Chosun reported, the fraudulent site operated from October 16 to October 23, 2025, promising investors monthly returns of 1.5% to 1.8% on XRP deposits.