Seoul Police Shut Down Fake XRP Staking Site That Stole Millions

A recent fake XRP staking site was shut down by the Seoul police after it stole 3.4 million XRP from 71 investors in just eight days.

The scammers promised annual returns of 18 to 22 percent, but these rates do not exist for XRP staking.

XRP cannot be staked because the XRP Ledger destroys transaction fees rather than distributing them, leaving validators with no rewards to share.

Legitimate XRP yield tops out around 3%, making any platform promising fixed monthly returns an immediate fraud signal.