Fake staking site drains $8.5 million in XRP from dozens of investors promising easy yield

CryptoInfo Editorial Team · Published on July 30, 2026 at 13:35 · Updated on July 31, 2026 · 1 min read

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A fake XRP staking site has been used to scam dozens of investors out of approximately $8.5 million, according to reporting from CoinDesk.

Seoul police are investigating the scam, and have stated that the total amount lost could potentially rise to nearly $20 million.

Two individuals alleged to be involved in the scam have been detained, while a third suspect remains at-large.

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