The Singapore Police Force has successfully prevented more than $2.86 million in potential financial losses through a coordinated anti-scam operation carried out with multiple cryptocurrency exchanges.
According to the official report, the month-long operation was conducted between March 16 and April 15, 2026, and was led by the Police’s Anti-Scam Centre (ASC) and Cyber Investigation Branch (CIB). Authorities worked closely with major crypto platforms, including Coinbase, Coinhako, Gemini, Independent Reserve, StraitsX, and Upbit.
The initiative focused on tackling a wide range of scams, including impersonation scams involving fake government officials, fraudulent investment schemes, job scams, and romance scams.
Blockchain Intelligence and Swift Action
A key factor behind the operation’s success was the use of advanced blockchain analytics tools from TRM Labs and Chainalysis. These tools allowed investigators to trace suspicious crypto transactions and identify victims across multiple scam typologies.
With faster intelligence sharing between law enforcement and exchanges, officers were able to act quickly. More than 90 direct interventions were conducted, with victims contacted via phone calls and, in some cases, in-person visits to stop ongoing scams before further losses occurred.
Officials highlighted that this rapid exchange of information played a critical role in identifying victims early and preventing additional financial damage. Authorities also described the operation as a significant advancement in Singapore’s anti-scam strategy, demonstrating how close coordination between law enforcement and the private sector can enhance protection against increasingly sophisticated cyber threats.
The collaboration underscores the growing importance of real-time partnerships between cryptocurrency exchanges and enforcement agencies, particularly as scams become more technologically complex and harder to detect.
Police Issues Advisory for Scam Prevention
As part of continued awareness efforts, the Singapore Police has urged the local public to adopt the “ACT” approach to safeguard themselves against scams:
- Add: Strengthen security with apps like ScamShield, enable two-factor authentication, and set transaction limits for banking services including PayNow, can also help minimize potential losses.
- Check: Verify requests for money or personal details, question suspicious messages, cross-check sources, and review online listings carefully and be cautious of deals that seem too good to be true.
- Tell: Report scams promptly to banks, ScamShield, or the Police. Sharing information about scam attempts and reporting fraudulent accounts or pages can help prevent others from falling victim.
The success of the operation signals a broader shift toward intelligence-led, technology-driven enforcement. As digital asset adoption grows, such collaborations may become a global model for combating crypto-related crime while improving real-time protection for users.
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