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Fake Flare Network Staking Site Drains $8.5M in XRP, Seoul Police Investigate

Published on July 30, 2026

Categories: Scam Security Xrp Regulation

Seoul police are actively investigating a sophisticated scam where a fake Flare Network staking site successfully siphoned off $8.5 million worth of XRP. The criminals utilized forged Wikipedia entries, blog posts, and YouTube videos to give their fraudulent operation a facade of legitimacy.

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.

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A digital illustration showing a police investigation into a cryptocurrency theft. A magnifying glass hovers over a blockchain ledger with XRP symbols, while money drains away. The scene should convey deception and cybercrime.