A fraudulent staking website that operated for just eight days last October allegedly drained 3.4 million XRP from 71 investors, totalling 12.3 billion won ($8.5 million), Seoul police say. T
A fraudulent staking website that operated for just eight days last October allegedly drained 3.4 million XRP from 71 investors, totalling 12.3 billion won ($8.5 million), Seoul police say. Two men, both aged 29, have been referred to prosecutors on aggravated fraud charges.
What sets the case apart is what the group is alleged to have built before taking a single deposit. Police say it manufactured its own evidence base across Wikipedia, blogs, news articles and YouTube, so that investors who checked the project found what appeared to be independent corroboration. None of the four suspects has been tried, and no wrongdoing has been established in court.
