Singapore’s law enforcement agencies thwarted more than $7 million in potential cryptocurrency scam losses through two coordinated operations that involved leading crypto exchanges and blockchain analytics firms. The efforts targeted a broad range of scams, including government impersonation, fake investment platforms, job scams, and romance fraud.
The most recent operation, running from mid-April to the end of May 2026, featured partnerships with prominent exchanges such as Coinbase, Gemini, OKX, and Upbit. Blockchain investigators from Chainalysis and TRM Labs provided advanced tools to track suspicious wallet transactions. This enabled authorities to identify and intervene in fraudulent activities early, protecting over 145 victims within six weeks before they could lose funds.
A preceding pilot operation from mid-March to mid-April intercepted approximately $2.86 million in scam attempts. Combined, both efforts prevented more than $7 million in losses, underscoring the effectiveness of sustained collaboration between Singapore’s Anti-Scam Centre, Cyber Investigation Branch, and the cryptocurrency industry.
Authorities credited the rapid sharing of customer information by crypto exchanges as crucial to the operations’ success, allowing law enforcement to contact potential victims by phone or in person promptly. This close cooperation has reinforced Singapore’s reputation for proactive measures against digital fraud in the cryptocurrency sector.
These anti-scam operations form part of a broader strategy by Singapore to combat cybercrime. The government recently announced the establishment of a dedicated Cyber Command unit tasked with cybercrime investigations, scam disruption, and cryptocurrency crime surveillance, slated to become operational mid-2026. Authorities have also taken legal action against corporate wrongdoing in the crypto space, exemplified by charges against a former crypto lender CEO linked to false financial disclosures.
The Anti-Scam Centre and Police Force highlighted the importance of ongoing public-private partnerships in swiftly detecting and stopping scams, emphasizing that real-time coordination combined with blockchain intelligence represents one of the most effective methods to curb financial harm from cryptocurrency fraud.