Two arrested after Flare Network staking site scammed users out of 3.4 million XRP (~$8.5 million)

1 · Molly White · Aug. 11, 2026, 10:32 p.m.
Summary
Two individuals were arrested for running a fraudulent staking website that impersonated the Flare Network, scamming 71 investors out of 3.4 million XRP (approximately $8.5 million). The scam promised high returns and lasted only a week before the operators vanished. Police investigations continue for a third suspect, with the scam group reportedly promoting their scheme through YouTube and online articles.