South Korean authorities arrested three individuals tied to a $19 million scam involving a fake XRP staking platform. The scheme falsely promised fixed monthly returns, attracting 71 victims who collectively invested around 3.4 million XRP.
Blockchain analysis revealed that the wallets linked to this operation handled transactions totaling approximately 27.3 million XRP, indicating a complex laundering process. The police called this one of the largest XRP-related frauds uncovered in South Korea to date.
