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.
- A fake Flare Network staking website in South Korea allegedly stole 3.4 million XRP, worth about $8.5 million, from 71 investors in 2025, according to Seoul police.
- Authorities say the scammers, who used the name of the legitimate Flare blockchain project and promoted it through blogs, news articles, Wikipedia and YouTube, may have taken as much as $19 million in XRP.
- Two suspects have been detained on aggravated fraud charges, while police have secured an arrest warrant and requested an Interpol Red Notice for a third accomplice, amid broader warnings about rising global crypto scams and impersonation schemes.
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The Definitive Stablecoin Landscape Series: Asia Pacific
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Why it matters :
As stablecoins move into regulated finance, APAC is becoming a key proving ground. This report maps the region’s rules, use cases, and RLUSD’s role.
Payments firm OpenPayd targets year-end Nasdaq listing to fund U.S. expansion and acquisitions
Crypto job postings triple to over 1,200 in September, but applications fall
BlackRock offers a glimpse of how tokenization may change your investment portfolio
Original sourceCoinDesk
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