South Korea Cracks Down on $9M XRP Scam

South Korean authorities have dismantled an XRP investment scam that defrauded at least 71 investors of nearly 3.4 million XRP, worth around 12.3 billion won.

The group used fake fixed-return staking offers to lure victims into transferring their XRP from domestic exchanges to specific wallets on overseas exchanges.

In just seven days, from October 16 to 23, 2025, the suspects recruited investors with monthly returns between 1.5% and 1.8%, using the names of real blockchain projects like Flare Network and FXRP to make their website look legitimate.