Joint operation with cryptocurrency exchanges prevented over S$2.86 million in losses

The Singapore Police Force’s Anti-Scam Centre (ASC) and Cyber Investigation Branch (CIB) have successfully prevented over $2.86 million in potential financial losses through a landmark partnership with several cryptocurrency exchanges.During the one-month operation between 16 March 2026 and 15 April 2026, ASC and CIB collaborated with cryptocurrency exchanges, including Coinbase, Coinhako, Gemini, Independent Reserve, StraitsX, Upbit, in an intensive anti-scam operation.

Officers conducted advanced blockchain analysis using tools from industry leaders, TRM Labs and Chainalysis to identify victims across multiple scam categories including government officials impersonation scams, investment scams, job scams and love scams.The operation’s success stemmed from the rapid exchange of information between the Police and participating cryptocurrency exchanges, which enabled swift victim identification and immediate intervention.

Officers conducted over 90 direct interventions, contacting scam victims both by telephone and in-person to prevent further financial losses.This collaborative approach represents a significant advancement in Singapore's anti-scam efforts, demonstrating how partnerships between law enforcement and the private sector can harness cutting-edge technology to protect the public from increasingly sophisticated scams.

The operation highlights the Police’s commitment to proactive scam prevention and the importance of real-time collaboration between cryptocurrency exchanges and law enforcement agencies in combating cybercrime.The Police urge members of the public to “ACT” against scams.The ACT acronym outlines how members of the public can Add security features, Check for signs, and Tell the authorities and others about scams.

ADD - Add security features such as the ScamShield application and two-factor authentication for personal accounts, such as banks, social media, and Singpass accounts. Transaction limits for internet banking, including PayNow, could also be set up to limit the amount of funds that can be lost in the event of a scam.

CHECK - Check for potential signs of a scam by asking questions, fact-checking requests for personal information and money transfers, and verifying the legitimacy of online listings and reviews. Take the time to pause and check. If it is too good to be true, it is probably untrue, and a scam.

TELL - Tell the authorities and others about scam encounters by reporting to the bank, ScamShield, or by filing a Police report. Tell others about ongoing scams and preventive steps they can take. Report the fraudulent pages and/or monikers to the respective platforms.

For more information on scams, members of the public can visit www.scamshield.gov.sg or call the ScamShield Helpline at 1799. Anyone with information on such scams may call the Police Hotline at 1800-255-0000 or submit information online at www.police.gov.sg/i-witness. All information will be kept strictly confidential.

PUBLIC AFFAIRS DEPARTMENT SINGAPORE POLICE FORCE 23 April 2026 @ 5:30 PM