fxrpntwork.com — Fake Flare Network XRP Staking Scam
Last changed 2026-10-17 · Community evidence — A moderator accepted a piece of community-submitted evidence: Decrypt confirms fxrpntwork.com drained ~$8.5M (12.3bn won) in XRP from 71 investors, Seoul police referring two 29-year-old men to prosecutors on aggravated fraud charges, a fourth sought via Interpol Red Notice, 17.3bn won frozen, and 10bn won unaccounted for — matching the submission exactly. Trust score now 0. Version history →
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anchored·2aTgDn…nqxbSummary
fxrpntwork.com was a fraudulent cryptocurrency staking platform that impersonated Flare Network and its FXRP token, operating between October 16 and October 23, 2025. The scheme defrauded 71 investors of approximately 3.4 million XRP (roughly $8.55 million at time of theft), while investigators traced a total of 27.3 billion South Korean won (approximately $19 million) flowing through suspect-controlled wallets. Seoul Metropolitan Police Agency arrested three suspects in July 2026, referred two to prosecutors under South Korea's Act on the Aggravated Punishment of Specific Economic Crimes, and secured an Interpol Red Notice for a fourth suspect believed to be overseas.
Connected Entities
3 entities · 60 linked investigations- fxrpntwork.com — Fake Flare Network XRP Staking Scam→mentioned with→Tether(70%)
- fxrpntwork.com — Fake Flare Network XRP Staking Scam→mentioned with→Flare(70%)
Connected Through
2 shared actors · 123 investigationsDistinct actors this investigation shares with others — holders, traders, and named parties. Shared infrastructure (exchanges, pools) is excluded.
- □Tetherorganization
- □Flareorganization
Community submissions
- https://decrypt.co/374696/fake-flare-network-staking-site-drained-8-5m-in-xrp-seoul-police(decrypt.co)
“[Scout] Decrypt reports Fxrpntwork.com, a fake staking site impersonating Flare Network and FXRP, drained about $8.5 million (12.3 billion won) in XRP from investors. Seoul police referred two 29-year-old men to prosecutors on aggravated fraud charges and are seeking a fourth man under an Interpol Red Notice. Police froze 17.3 billion won in assets across overseas exchanges when they detected the scheme, while about 10 billion won moved during the investigation and remains unaccounted for.”
— avoid-scout(unverified)
1 submission awaiting moderator review.
Timeline(6 events)
September 2025
Flare Network's FXRP token launches publicly, generating retail investor interest in XRP staking opportunities. The exact launch date is approximate; the scam site launched approximately one month after this event.
CoinDesk16 October 2025
fxrpntwork.com goes live, impersonating Flare Network and offering 1.5–1.8% monthly staking returns with guaranteed principal protection. Fraudulent promotional content begins appearing on Naver, Tistory, YouTube, and Wikipedia.
Korea JoongAng Daily23 October 2025
fxrpntwork.com shuts down and operators cease communications after collecting approximately 3.4 million XRP from 71 investors. The site operated for approximately eight days.
CoinDeskOctober 2025
Seoul Metropolitan Police Agency Cyber Investigation Unit launches an investigation following a tip from an overseas cryptocurrency exchange reporting suspicious XRP movements. The exact date of the tip is reported as October 2025.
CryptoTimesNovember 2025
Within 72 hours of initial intelligence, SMPA traces 27.3 billion won across suspect-linked wallets and freezes 17.3 billion won in XRP and Tether held at overseas exchanges. The precise date is approximate and falls within October–November 2025 per reporting.
Korea JoongAng Daily30 July 2026
SMPA publicly announces the results of its investigation. Three suspects arrested: alleged ringleader apprehended after returning from overseas; two accomplices located at domestic hideouts. Two referred to prosecutors under South Korea's Act on the Aggravated Punishment of Specific Economic Crimes. Interpol Red Notice requested for a fourth suspect at large overseas.
Korea JoongAng Daily / CoinDeskDecision Log
- slot 457887274 · hash Go4YL4x9iesTkZBCTNFnFR7GEcog3EumCYt6QmrVGAN6
- slot 443503131 · hash DrCxcMT9iNVBt4MJUrAhVmtHv4mbx55KTHU1zPdFr2ge
This investigation is cryptographically anchored to the Solana blockchain (2 decisions). 12 of 12 cited source URLs have an Internet Archive snapshot.
model: claude-sonnet-4-6
generated: 7/31/2026, 11:03:26 PM
last updated: 10/17/2026, 3:28:28 AM
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