Source: CoinDesk ↗
Fake staking site drains $8.5 million in XRP from dozens of investors promising easy yield
What the source reports
Seoul police say the amount of the scam might rise to nearly $20 million. Two alleged scammers were detained and a third remains at-large.
Read the original report on CoinDesk ↗Live market context
Market figures are live reference data, not evidence that this report caused a price movement. Not financial advice.
Related news
Open news desk →Fake Flare Network Staking Site Drained $8.5M in XRP: Seoul Police
The ring copied Flare Network and its FXRP token, and planted Wikipedia entries, blog posts and YouTube videos to look legitimate.
Japanese game developer launches Bitcoin, altcoin fund with SBI
The Bitcoin and altcoin fund builds on Gumi’s growing crypto business centered around XRP, with the company nearly doubling its crypto holdings over the past year.