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

Odaily Planet Daily News: In an effort to combat scams involving cryptocurrencies, the Anti-Scam Centre and the Cybercrime Investigation Branch of the Singapore Police Force, in collaboration with cryptocurrency platforms, launched an enforcement operation, successfully intercepting over S$2.86 million in scam proceeds.

The Singapore Police Force stated in a press release on Thursday (April 23) that authorities, in cooperation with cryptocurrency platforms such as Coinbase, Coinhako, StraitsX, and Upbit, conducted a one-month enforcement operation from March 16 to April 15 this year.

During the operation, authorities utilized tools from blockchain intelligence firm TRM Labs and blockchain analytics company Chainalysis, employing advanced blockchain analysis technology to identify victims of scams. These scams included impersonation of government officials, investment fraud, job scams, and online romance scams. (Lianhe Zaobao)