“Do not be misled by unverified information and verify official sources before investing,” representatives of the Seoul police commented on the arrest of a group suspected of creating a fraudulent investment platform. Moreover, the perpetrators promised fixed returns by attracting XRP digital assets, using the names of well-known cryptocurrency projects.

As law enforcement officials noted — “This can be tracked through the promotion scheme via public channels where investors were guaranteed the safety of their principal capital.” However, police representatives also clarified that although part of the funds was successfully frozen during the investigation, total damages could significantly exceed the initially reported amount of involved assets.