Singapore police and cryptocurrency platforms join forces to intercept over S$2.86 million in scam funds in one month

Odaily Planet Daily News: In an effort to combat fraud involving cryptocurrencies, the Singapore Police Force's Anti-Scam Center and Cybercrime Investigation Department, in coordination with cryptocurrency platforms, launched a crackdown, successfully intercepting over S$2.86 million in scam proceeds.

In a press release on Thursday (April 23), the Singapore Police Force stated that the relevant authorities collaborated with cryptocurrency platforms such as Coinbase, Coinhako, StraitsX, and Upbit, conducting a month-long enforcement operation from March 16 to April 15 this year.

During the operation, the authorities utilized tools from blockchain intelligence firm TRM Labs and blockchain analytics firm Chainalysis. Through advanced blockchain analysis techniques, they identified victims who had fallen for various scams, including those involving impersonation of government officials, investment fraud, job scams, and online love scams. (Source: Lianhe Zaobao)