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

Odaily Planet Daily News In an effort to combat scams involving cryptocurrencies, Singapore's Anti-Scam Centre and its Cybercrime Investigation Branch, in collaboration with cryptocurrency platforms, conducted an enforcement operation that successfully intercepted over S$2.86 million in scam funds.

In a press release on Thursday (April 23), the Singapore Police Force stated that the authorities, together with cryptocurrency platforms such as Coinbase, Coinhako, StraitsX, and Upbit, carried out a one-month 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 company Chainalysis. Through advanced blockchain analysis technology, they identified victims of scams. These scam types included impersonation scams involving government officials, investment scams, job scams, and online love scams. (Lianhe Zaobao)