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$8.5M XRP Scam Busted in South Korea as Shiba Inu Price Falters

Guavy AI Editorial Team Published July 30, 2026

Instruments

XRP SHIB

South Korean authorities have dismantled an XRP scam that netted over $8.5 million from unsuspecting investors.

The police arrested three suspects and froze wallets containing the stolen tokens, valued at approximately 3.4 million XRP.

This brazen scheme relied on a fake website mimicking the Flare Network to defraud 71 investors.

Meanwhile, Shiba Inu's price pump has stalled after whales controlling over 94% of the supply cashed out, leaving retail investors at a loss.

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