Over $7 million in potential losses has now been stopped throughout two back-to-back operations after Singapore’s Anti-Rip-off Centre and Cyber Investigation Department joined forces with among the world’s largest crypto exchanges to intercept scams earlier than victims misplaced their funds.
How Blockchain Instruments Tracked The Suspects
The second operation ran from April 16 to Might 31, 2026, pulling in Coinbase, Coinhako, Gemini, Impartial Reserve, OKX, StraitsX, and Upbit as companions. Blockchain analytics companies Chainalysis and TRM Labs provided the investigative instruments that allowed officers to hint suspicious pockets actions throughout a number of rip-off varieties, together with authorities impersonation schemes, faux funding platforms, job scams, and romance fraud.
From these traces, authorities carried out greater than 145 focused interventions — some by telephone, others by direct visits to potential victims. Exchanges assisted by handing over buyer info on time, which let investigators attain individuals earlier than any extra transfers have 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.
Constructing on the success of… pic.twitter.com/26VTuXSWXN
— Chainalysis (@chainalysis) June 3, 2026
Officers stated the end result of the second operation reinforces the worth of maintaining regulation enforcement and the crypto trade working collectively. “The result of the second operation reaffirms the significance of sustained public-private partnerships within the struggle towards scams,” the Singapore Police Power stated in a press release.
Singapore’s Wider Push Towards Digital Crime
The crackdown suits into a bigger enforcement push that Singapore has been constructing. A devoted Cyber Command unit was introduced in Might 2026, set to start operations in July, with a mandate masking cybercrime investigations, rip-off disruption, and cryptocurrency-related crime monitoring.
The town-state has additionally moved towards company misconduct within the crypto sector. Final 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 mix of blockchain intelligence and real-time coordination with exchanges has turn into probably the most 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
Editorial Course of for bitcoinist is centered on delivering completely researched, correct, and unbiased content material. We uphold strict sourcing requirements, and every web page undergoes diligent evaluate by our crew of high expertise specialists and seasoned editors. This course of ensures the integrity, relevance, and worth of our content material for our readers.