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South Korea Cracks Down on Fake Investment Platform Stealing Millions from XRP Holders

Guavy AI Editorial Team
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XRP
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South Korean authorities have uncovered a cryptocurrency fraud case that exploited interest in a newly launched blockchain token. The operation targeted XRP holders through a fake investment platform that disappeared after collecting $8.6 million in digital assets.

Authorities launched their investigation after an overseas exchange flagged suspicious transactions. Within three days of receiving the alert, investigators traced the activity and froze digital wallets holding most of the stolen assets.

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