Over $7M In Crypto Scams Thwarted As Singapore Launches Second Crackdown
Over $7 million in potential losses has now been stopped throughout two back-to-back operations after Singapore’s Anti-Scam Centre and Cyber Investigation Branch joined forces with a number of the world’s greatest crypto exchanges to intercept scams earlier than victims misplaced their funds.
How Blockchain Tools Tracked The Suspects
The second operation ran from April 16 to May 31, 2026, pulling in Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit as companions. Blockchain analytics companies Chainalysis and TRM Labs equipped the investigative instruments that allowed officers to hint suspicious pockets actions throughout a number of rip-off varieties, together with authorities impersonation schemes, pretend funding platforms, job scams, and romance fraud.
From these traces, authorities performed greater than 145 targeted interventions — some by cellphone, others by direct visits to potential victims. Exchanges assisted by handing over buyer data on time, which let investigators attain individuals earlier than any extra transfers had been made.
The First Operation Stopped $2.86M
Singapore ran a pilot model of this effort between March 16 and April 15, 2026. That first run intercepted roughly $2.86 million, and the outcomes of the 2 operations mixed now whole greater than $7 million in blocked losses.
The momentum continues. We’re proud to have as soon as once more supported the
@SingaporePolice in a second joint anti-scam operation — this time, stopping greater than $4.2 million in potential losses and reaching over 145 rip-off victims in simply six weeks.
Building on the success of… pic.twitter.com/26VTuXSWXN
— Chainalysis (@chainalysis) June 3, 2026
Officials stated the result of the second operation reinforces the worth of conserving legislation enforcement and the crypto business working collectively. “The end result of the second operation reaffirms the significance of sustained public-private partnerships within the battle in opposition to scams,” the Singapore Police Force stated in an announcement.
Singapore’s Wider Push Against Digital Crime
The crackdown suits into a bigger enforcement push that Singapore has been constructing. A devoted Cyber Command unit was introduced in May 2026, set to start operations in July, with a mandate protecting cybercrime investigations, rip-off disruption, and cryptocurrency-related crime monitoring.
The city-state has additionally moved in opposition to company misconduct within the crypto sector. Last week, Singapore prosecutors charged Zhu Juntao, the previous CEO of collapsed crypto lender Hodlnaut, in reference to alleged false disclosures tied to the 2022 Terra ecosystem collapse.
Authorities stated the mixture of blockchain intelligence and real-time coordination with exchanges has turn into one of the vital dependable methods to catch scams early and minimize monetary hurt earlier than it compounds. The police confirmed the operation was formally reported on June 2, 2026.
Featured picture from Pexels, chart from TradingView
