XRP Price Stabilizes as Korean Police Arrest Three in Fraudulent Scam

XRP price is trading around $1.08 after slipping over the past 24 hours. Even so, the market stayed relatively steady despite a major fraud case in South Korea. Authorities arrested three suspects linked to a fake XRP staking scheme that stole 3.4 million XRP, worth about 12.3 billion won, from 71 investors. An Interpol Red Notice remains active for a fourth suspect overseas.

The Seoul Metropolitan Police Agency said the group operated the fraudulent website Fxrpntwork.com. It promised monthly returns of 1.5% to 1.8% through blog posts, online articles, and YouTube videos. Investigators tracked the stolen XRP on-chain and froze the suspects’ wallets within three days of receiving the first report. The alleged ringleader was arrested after returning to South Korea, while two accomplices were caught fleeing within the country.

Meanwhile, the case reflects South Korea’s tougher approach toward crypto-related fraud. Investigators continue to pursue scams that target retail investors through fake investment platforms. Authorities have also highlighted blockchain’s transparency, as transaction records helped trace the stolen funds quickly.

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