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The Singapore Police Force's Anti-Scam Centre (ASC) and Cyber Investigation Branch (CIB) have successfully prevented over $2.9 million in potential financial losses through their continued partnership with several cryptocurrency exchanges.

During the operation from 1 to 30 June 2026, ASC and CIB collaborated with cryptocurrency exchanges including Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX and Upbit in their third intensive anti-cryptocurrency scam operation. Officers conducted advanced blockchain analysis using tools from industry leaders, Chainalysis and TRM Labs, to identify victims across multiple scam typologies, including government officials impersonation scams, investment scams and job scams. Supported by timely customer information from participating cryptocurrency exchanges to identify over 130 victims, officers swiftly conducted targeted interventions over the phone and in-person, preventing potential losses of more than $2.9 million. 

Recognising that cryptocurrency scams transcend geographical boundaries, the Police expanded the scope of the operation beyond Singapore by sharing blockchain intelligence derived from the operation with foreign law enforcement counterparts, including the Federal Bureau of Investigation (FBI) and the Cybercrime Squad, New South Wales Police Force. This expansion highlights the importance of timely information sharing and international cooperation in combating transnational scam syndicates.

The outcome of the third operation reaffirms the importance of sustained public-private partnerships and international collaboration in the fight against scams. As scams continue to grow in sophistication and scale, the combination of the Police's investigative and technical capabilities, support from cryptocurrency exchanges, and cooperation with foreign law enforcement agencies has proven to be an effective approach in detecting scam activities early and protecting members of the public from financial harm.

The Police will continue to work closely with cryptocurrency exchanges, foreign law enforcement agencies and other stakeholders to combat cybercrime, and remain committed to safeguarding the public through proactive, intelligence-driven and collaborative operations.

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.