South Korean Police Crack Down on XRP Investment Scam Promising 1.8% Monthly Returns

South Korean authorities have arrested three suspects accused of operating a fraudulent XRP investment platform. The group allegedly collected approximately 3.4 million XRP from 71 investors between October 16 and 23 before closing their website.

The suspects promoted Fxrpntwork.com through portal blogs, online articles, and YouTube videos while promising guaranteed principal and monthly returns between 1.5% and 1.8%. Investors were instructed to move XRP from South Korean exchanges through overseas platforms before transferring the assets into wallets controlled by the group.

Police obtained an Interpol Red Notice for one of the suspects, who is being pursued abroad. Authorities warn prospective cryptocurrency investors to verify official sources carefully before transferring assets to unfamiliar wallets or unverified platforms: 'Do not be misled by unverified information on YouTube or other platforms. Verify official sources before investing.'

The alleged operators used the names Flare Network and FXRP to make their platform appear connected to legitimate blockchain infrastructure. This is consistent with a warning from Ripple that cryptocurrency impersonation schemes frequently copy trusted names, logos, videos, websites, and executive identities to create false credibility.