Singapore’s Anti-Scam Centre and Cybercrime Investigation Branch, together with blockchain analytics firms Chainalysis and TRM Labs, concluded a six-week operation that prevented more than $4.2 million in potential losses from cryptocurrency scams. Running from April 16 to May 31, 2026, the operation identified and contacted over 145 victims through phone calls and in-person visits, marking a significant scaling from a pilot effort that had protected $2.86 million in March and April. With the two back‑to‑back operations, total blocked losses now exceed $7 million.
The joint initiative involved seven major crypto exchanges — Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit — that swiftly provided customer information, allowing authorities to trace suspicious wallet movements and intervene before additional funds were lost. Intelligence tools from Chainalysis and TRM Labs tracked scam flows across impersonation of government officials, fake investment platforms, job scams, and romance fraud.
The Singapore Police Force framed proactive detection as the cornerstone of its strategy, emphasizing the growing sophistication of scams. Alongside the operational update, it introduced the ACT (Add, Check, Tell) framework for public prevention. The effort aligns with Singapore’s broader crackdown on digital crime; a dedicated Cyber Command unit is set to launch in July 2026, and prosecutors recently charged the former CEO of collapsed lender Hodlnaut over disclosures related to the Terra ecosystem collapse.
