Key Takeaways
- Singapore Police and major cryptocurrency exchanges intervened with more than 145 potential scam victims before funds were lost.
- Police investigators used blockchain tools from Chainalysis and TRM Labs to identify potential victims across multiple scam categories.
- Authorities plan to continue private-sector partnerships.
How Singapore Police Traced Potential Scam Victims
The Singapore Police Force placed blockchain analysis at the center of a six-week operation designed to reach potential scam victims before transfers were completed. Its Anti-Scam Centre and Cyber Investigation Branch worked with Coinbase and six other cryptocurrency exchanges from April 16 through May 31, 2026. Authorities reported more than $4.2 million in potential losses prevented.
On July 10, Coinbase Singapore shared some details of the operation in an X post. The crypto platform stated:
“Over the past 6 weeks, Coinbase worked closely with the Singapore Police Anti-Scam Centre and Cyber Investigation Branch on a joint anti-scam operation. Together, we stopped 145+ people from losing a combined $4.2M+ to scams.”
Police officers used analytical tools from Chainalysis and TRM Labs to examine activity connected to government official impersonation, investment, job and love scams. The analysis helped authorities identify people who appeared to be at risk of transferring cryptocurrency. Investigators then worked with exchanges to connect suspicious activity with customers who could be contacted.
Why Police and Exchange Cooperation Changed the Outcome
Blockchain records can reveal transaction patterns, but authorities still need a way to identify and contact people who may be preparing to send funds. The Singapore Police operation combined official investigative authority with customer information held by cryptocurrency platforms. That structure created a direct path from suspicious blockchain activity to preventive intervention.
Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX and Upbit participated in the police-led operation. The Singapore Police Force said the companies provided timely customer information that helped officers carry out more than 145 targeted interventions. Those contacts took place by telephone and in person.
The Singapore Police Force noted:
“The participating cryptocurrency exchanges supported the operation by providing timely customer information, facilitating more than 145 targeted interventions conducted over the phone and in-person, and allowed officers to reach potential scam victims before funds were lost.”
Continued Police Commitment to Public-Private Cybercrime Prevention
The figures announced by Singapore Police highlight potential losses prevented, reflecting the operation’s focus on early intervention before funds were transferred. The official release emphasized the scale of outreach and coordination, though it did not include detailed breakdowns such as individual cases or transaction-level data.
Additional disclosures could show how many flagged cases were confirmed as scams and how often police interventions prevented transfers. Such information would offer a clearer picture of the partnership’s effectiveness in protecting cryptocurrency users.
The Singapore Police Force emphasized:
“The Police will continue to work closely with cryptocurrency exchanges and other private sector partners to combat cybercrime and remain committed to safeguarding the public through proactive and intelligence-driven operations.”
The partnership remains active, while its lasting significance will depend on documented outcomes and evidence that early detection consistently prevents completed scam payments. Further official data on confirmed scams, enforcement actions and repeat interventions would provide a fuller picture of how effectively the model protects cryptocurrency users.
