Singapore Police, Crypto Exchanges Prevent $4.2M in Scam Losses, Coinbase Helps Reach 145+ Victims

How Singapore Police Traced Potential Scam Victims

The Singapore Police Force placed blockchain investigation astatine the halfway of a six-week cognition designed to scope imaginable scam victims earlier transfers were completed. Its Anti-Scam Centre and Cyber Investigation Branch worked with Coinbase and six different cryptocurrency exchanges from April 16 done May 31, 2026. Authorities reported much than $4.2 cardinal successful imaginable losses prevented.

On July 10, Coinbase Singapore shared immoderate details of the cognition successful an X post. The crypto level stated:

“Over the past 6 weeks, Coinbase worked intimately with the Singapore Police Anti-Scam Centre and Cyber Investigation Branch connected a associated anti-scam operation. Together, we stopped 145+ radical from losing a combined $4.2M+ to scams.”

Police officers utilized analytical tools from Chainalysis and TRM Labs to analyse enactment connected to authorities authoritative impersonation, investment, occupation and emotion scams. The investigation helped authorities place radical who appeared to beryllium astatine hazard of transferring cryptocurrency. Investigators past worked with exchanges to link suspicious enactment with customers who could beryllium contacted.

Why Police and Exchange Cooperation Changed the Outcome

Blockchain records tin uncover transaction patterns, but authorities inactive request a mode to place and interaction radical who whitethorn beryllium preparing to nonstop funds. The Singapore Police cognition combined authoritative investigative authorization with lawsuit accusation held by cryptocurrency platforms. That operation created a nonstop way from suspicious blockchain enactment to preventive intervention.

Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX and Upbit participated successful the police-led operation. The Singapore Police Force said the companies provided timely lawsuit accusation that helped officers transportation retired much than 145 targeted interventions. Those contacts took spot by telephone and successful person.

The Singapore Police Force noted:

“The participating cryptocurrency exchanges supported the cognition by providing timely lawsuit information, facilitating much than 145 targeted interventions conducted implicit the telephone and in-person, and allowed officers to scope imaginable scam victims earlier funds were lost.”

Continued Police Commitment to Public-Private Cybercrime Prevention

The figures announced by Singapore Police item imaginable losses prevented, reflecting the operation’s absorption connected aboriginal involution earlier funds were transferred. The authoritative merchandise emphasized the standard of outreach and coordination, though it did not see elaborate breakdowns specified arsenic idiosyncratic cases oregon transaction-level data.

Additional disclosures could amusement however galore flagged cases were confirmed arsenic scams and however often constabulary interventions prevented transfers. Such accusation would connection a clearer representation of the partnership’s effectiveness successful protecting cryptocurrency users.

The Singapore Police Force emphasized:

“The Police volition proceed to enactment intimately with cryptocurrency exchanges and different backstage assemblage partners to combat cybercrime and stay committed to safeguarding the nationalist done proactive and intelligence-driven operations.”

The concern remains active, portion its lasting value volition beryllium connected documented outcomes and grounds that aboriginal detection consistently prevents completed scam payments. Further authoritative information connected confirmed scams, enforcement actions and repetition interventions would supply a fuller representation of however efficaciously the exemplary protects cryptocurrency users.