Singapore Crypto Scam Crackdown Saves Over 90 Victims From Losses

Highlights:

• Singapore police and crypto exchanges stopped over $2.86 million in possible crypto scam losses.
• More than 90 victims received direct calls or in-person intervention from officers.
• Blockchain tools helped trace scam-linked funds across impersonation, investment, job, and romance cases.

Singapore Police and several cryptocurrency exchanges have helped stop more than $2.86 million in possible losses during a month-long operation targeting scam-linked crypto transfers. The operation ran from March 16 to April 15, 2026, and involved the Anti-Scam Centre and Cyber Investigation Branch. Police worked with Coinbase, Coinhako, Gemini, Independent Reserve, StraitsX, and Upbit. Through the effort, officers identified 90 Singapore-based victims before scammers could move funds.

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Authorities said the operation marked their first such collaboration with crypto exchanges. It also showed the growing role of blockchain tracking in scam prevention as fraud groups move money through digital assets.

Police and Exchanges Track Victims Before Funds Leave

Investigators tracked scammers and victims using blockchain analysis software from TRM Labs and Chainalysis. Officers identified matches between wallets and reports of scams at a faster rate. The cases include impersonation of government officials, investment scams, job scams, and romance scams. Some were victims who had already paid money, while others were still being pressured by the scammers. The police, therefore, acted quickly after the exchanges and shared details.

In partnership with the @SingaporePolice, our blockchain analysis tools helped detect 90+ scam victims and prevent over $2.86M in losses during a one-month anti-scam operation across major crypto exchanges.

When law enforcement have the right tools and real-time collaboration,… pic.twitter.com/ka2l6QPTA9

— Chainalysis (@chainalysis) April 24, 2026

Officers contacted victims by phone and also made in-person visits where needed. In most cases, that contact helped stop further transfers before criminals completed withdrawals. Police said information sharing with exchanges played a central role.

The move also reflects a wider shift in fraud response. Instead of waiting for reports after losses, investigators used wallet data to spot risky transfers earlier. As a result, prevention moved closer to the transaction stage.

Police See Real-Time Cooperation As Key

Singapore Police said the collaboration demonstrated how the private sector can help curb online crime. Crypto exchanges have account information and transaction details, while the police can link that to scamming activity.

This combination allowed officers to prevent further losses. Moreover, it allowed them to track networks transferring money between exchanges and wallets. Law enforcement officials said the operation marked a major milestone in Singapore’s anti-scam efforts.

Meanwhile, the operation reflects the growing concerns regarding crypto scams in Asia. Recently, police in Hong Kong logged more than 80 online investment scams in one week. Losses exceeded HK$80 million, including one woman who lost HK$7.7 million in a Telegram-based crypto scam.

Police Share ACT Message After Crypto Scam Operation

After the operation, Singapore police promoted the “ACT” message for scam awareness. The campaign focuses on adding security, checking suspicious requests, and telling authorities or others about scam encounters.

Under “Add,” police urged users to install ScamShield and turn on two-factor authentication. They also encouraged people to set transaction limits for internet banking services, including PayNow.

Under “Check,” the public should verify money requests, online listings, and requests for personal details. Police said people should pause when an offer appears too good to be true.

Under “Tell,” victims should report scam encounters to banks, ScamShield, or the police. They should also warn others and report fraudulent pages or accounts to the relevant platforms.

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