A pretend Flare Community staking web site has drained 3.4 million XRP (CRYPTO: XRP) from 71 buyers, with complete losses doubtlessly reaching $19 million as investigations proceed, in accordance with a report by the Seoul Metropolitan Police Company on Thursday.
How The Scam Really Labored
As South Korean information outlet Chosun reported, the fraudulent web site operated from October 16 to October 23, 2025, promising buyers month-to-month returns of 1.5% to 1.8% on XRP deposits.
The scammers constructed credibility by utilizing the identify of a real blockchain mission and spreading pretend promoting throughout Naver blogs, on-line information articles, Wikipedia, and YouTube.
Two males have been detained on aggravated fraud expenses and a 3rd confederate stays at giant at an unknown abroad location, Chosun reported.
Seoul police obtained an arrest warrant and requested an Interpol Crimson Discover for the fugitive, in accordance with Korea JoonAng Day by day.
Why Flare Community Was The Goal
Flare Community has deep roots in the XRP ecosystem, debuting in early 2023 and reporting over $160 million in complete worth locked as of late March 2026, with greater than 887,000 lively addresses.
Its real-world credibility made it an efficient cowl for the scammers to take advantage of.
“We are going to strictly reply to cyber frauds involving cryptocurrency below a zero-tolerance coverage,” a Seoul police official mentioned, in accordance with Korea JoonAng Day by day, urging buyers to confirm any funding claims earlier than depositing funds.
How Large Is The Broader Crypto Scam Downside?
Crypto analytics agency Chainalysis estimated in January that scammers and fraudsters stole as a lot as $17 billion in cryptocurrency worldwide throughout 2025.
Criminals more and more relied on impersonation techniques and synthetic intelligence to focus on victims at scale, the agency added.
The Seoul case suits that sample exactly — a convincing pretend of a reliable mission, amplified by means of mainstream platforms, focusing on retail buyers drawn in by yield guarantees that actual staking merchandise not often match.
XRP Value Replace — July 30, 2026
| Kind | Value | Why It Issues |
| Resistance | $1.0963 | 20-Day EMA — first ceiling above present worth |
| Resistance | $1.1294 | 50-Day EMA — subsequent significant hurdle |
| Resistance | $1.1824 | 0.618 Fibonacci — first main upside goal |
| Resistance | $1.2298 | 0.786 Fibonacci — main goal on continuation |
| Present Value | $1.0904 | +1.67% on the day |
| Assist | $1.0744 | 0.236 Fibonacci — rapid ground |
| Assist | $1.0078 | June low — final protection earlier than uncharted territory |
Learn Additionally: JPMorgan Warns Crypto Faces Setback As CLARITY Act Odds Drop To 37%
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