PUBLISHED ONJune 02, 2026 10:34 AMBYSean LerThe police have disrupted over 145 scam attempts during a six-week-long operation which ended on May 31, preventing potential losses of over $4.2 million.
In a news release on Tuesday (June 2), the police said they partnered with seven cryptocurrency exchanges — Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Ubit — for the operation which began on April 16.
Calling it an "intensive" operation, the police said their officers conducted advanced blockchain analysis using tools from industry leaders such as Chainalysis and TRM Labs to identify victims across multiple scam categories including government officials impersonation, investment, job, and love scams.
The analytical capabilities helped officers swiftly identify potential victims and intervene before losses could escalate, the police said.
Meanwhile, the cryptocurrency exchanges provided timely customer information, thereby enabling 145 targeted interventions over the phone and in-person.
This is also the second such joint operation between cryptocurrency exchanges and the police's Anti-Scam Centre and Cyber Investigation Branch.
"The outcome of the second operation reaffirms the importance of sustained public-private partnerships in the fight against scams.
"As scams continue to grow in sophistication and scale, the combination of the Police's investigative and technical capabilities with the support of cryptocurrency exchanges has proven to be an effective approach in detecting scam activities early and protecting members of the public from financial harm," the police said.
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