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Crypto

South Korean Police Smash $9M XRP Scam in 7 Days

Guavy AI Editorial Team
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XRP
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A South Korean XRP investment scam has been busted after police detained three suspects and frozen millions of dollars in cryptocurrency. The group, which operated from October 16 to 23, 2025, allegedly defrauded at least 71 investors out of nearly 3.4 million XRP worth $9 million.

The scammers promised fixed monthly returns between 1.5% and 1.8%, using the names of real blockchain projects such as Flare Network and FXRP to make their website look legitimate. They advertised on blogs, online articles, and videos on YouTube and other networks with the slogan 'principal guaranteed' or 'fixed monthly returns.'

Once investors transferred their XRP holdings from domestic exchanges to specific wallets on overseas exchanges, the website was closed and they were unable to receive their money back.

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