# Singapore police and crypto exchanges stop $2.9 million in scams

**Published:** 2026-07-14T23:25:37.517Z  
**Topic:** Crypto Scam  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/9bf4a689-0bf2-4dcd-b3c1-e229414c0a4d

Singapore police and seven crypto exchanges prevented over $2.9 million in losses for more than 130 victims in a June anti‑scam operation.

Over $2.9 million in potential losses were blocked in June after Singapore police teamed with seven cryptocurrency exchanges to identify and intervene with more than 130 scam victims [1]. The joint effort shows how rapid blockchain analytics and exchange cooperation can halt fraud before funds disappear, a model that could shape future cross‑border crypto enforcement.

| At a glance | |
|---|---|
| Victims identified | 130+ |
| Potential losses prevented | S$2.9 million |
| Operation period | June 1‑30, 2026 |
| Exchanges involved | Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, Upbit |

## Operation mechanics  
Police’s Anti‑Scam Centre and Cyber Investigation Branch used advanced blockchain analysis tools from Chainalysis and TRM Labs to trace suspicious flows linked to impersonation, investment and job scams [4]. Real‑time customer data supplied by the participating exchanges enabled officers to contact victims by phone and in person, stopping transactions before the funds could be moved beyond reach [1].

## International cooperation  
The Singapore Police Force shared the blockchain intelligence gathered with the U.S. Federal Bureau of Investigation and the New South Wales Police Force’s Cybercrime Squad, underscoring the transnational nature of crypto fraud and the need for coordinated law‑enforcement responses [1]. Police highlighted that proactive, intelligence‑driven operations are far more effective than reactive investigations that occur after money is lost [4].

## Public guidance  
Authorities urged the public to adopt three safeguards: enable the ScamShield app and two‑factor authentication for bank, social media and SingPass accounts; set transaction limits on internet banking services such as PayNow; and verify any requests for personal information or money transfers before acting [1].

## What to watch
- Any follow‑up operations announced by Singapore’s police or participating exchanges.  
- Expansion of blockchain‑analysis partnerships with additional foreign law‑enforcement agencies.  
- Updates to the ScamShield application or new security features rolled out by the exchanges.

The June operation demonstrates that swift, data‑driven collaboration between regulators and crypto platforms can materially reduce fraud losses, but the continued sophistication of scams means ongoing vigilance and cross‑border intelligence sharing will be essential.

## Sources
1. Straitstimes — [Police and crypto exchanges stop over $2.9m in scam losses](https://www.straitstimes.com/singapore/police-crypto-exchanges-stop-over-130-scam-victims-from-losing-more-than-2-9-million)
2. News — [Police, crypto exchanges stop over 130 scam victims from ...](https://news.nestia.com/detail/Police,-crypto-exchanges-stop-over-130-scam-victims-from-losing-more-than-$2.9-million/14114781)
3. Thestar — [Singapore police, crypto exchanges stop over 130 scam victims ...](https://www.thestar.com.my/aseanplus/aseanplus-news/2026/07/05/singapore-police-crypto-exchanges-stop-over-130-scam-victims-from-losing-more-than-s29mil)
4. Theindependent — [130 victims identified, S$2.9 million saved: Inside Singapore ...](https://theindependent.sg/130-victims-identified-s-2-9-million-saved-inside-singapore-s-latest-crypto-scam-crackdown/)

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Cite as: TrendWatcher, "Singapore police and crypto exchanges stop $2.9 million in scams", https://www.trendwatcher.in/article/9bf4a689-0bf2-4dcd-b3c1-e229414c0a4d