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South Korean Authorities Crack Down on $8.6 Million XRP Investment Scam

Guavy AI Editorial Team
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South Korean authorities have arrested three individuals and issued an Interpol Red Notice for a fourth suspect in connection with an $8.6 million XRP investment scam.

The suspects allegedly operated a fake cryptocurrency investment platform called Fxrpntwork.com, which launched in October 2025 and promised investors guaranteed returns of 1.5% to 1.8% per month.

Investigators said the platform used blog posts, online news articles, and YouTube videos to promote itself, capitalizing on interest surrounding Flare Network's FXRP launch in September 2025.

The scammers impersonated legitimate projects within the XRP ecosystem, including Flare Network, and instructed victims to transfer their XRP from South Korean exchanges to designated wallets.

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