Singapore police, crypto exchanges prevent $4.2M in scams
Singapore Police and major crypto exchanges used blockchain analytics in a six-week operation to contact 145+ potential victims and prevent over $4.2 million in losses.
The Singapore Police Force and several major cryptocurrency exchanges ran a six-week operation from April 16 to May 31, 2026 that identified more than 145 people at risk of crypto-related scams and prevented over $4.2 million in potential losses.
The Anti-Scam Centre and the Cyber Investigation Branch led the effort. Investigators used on-chain analysis tools from Chainalysis and TRM Labs to flag wallet activity linked to government-official impersonation, investment, job and romance scams. They traced suspicious wallet movements and worked with exchanges to match blockchain addresses to customer accounts so officers could contact people who appeared likely to transfer funds.
Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX and Upbit provided customer information used in the operation. Contacts were made by phone and in person. Coinbase Singapore wrote on X: “Over the past 6 weeks, Coinbase worked closely with the Singapore Police Anti-Scam Centre and Cyber Investigation Branch on a joint anti-scam operation. Together, we stopped 145+ people from losing a combined $4.2M+ to scams.” The Singapore Police Force noted the exchanges “provided timely customer information, facilitating more than 145 targeted interventions conducted over the phone and in-person, and allowed officers to reach potential scam victims before funds were lost.”
Authorities clarified the $4.2 million figure represents potential losses prevented because interventions occurred before transfers were completed. The police release did not include a breakdown of individual cases, the number of flagged alerts later confirmed as scams, or transaction-level data. Officials noted further disclosures on confirmed scams, enforcement actions and repeat interventions would provide a clearer measure of the operation’s outcomes.
The Singapore Police Force said it will continue to work with cryptocurrency exchanges and other private-sector partners on intelligence-driven operations to contact potential victims early and prevent funds from being transferred.
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