Key facts
- Singapore Police and Chainalysis conducted a six-week anti-scam operation from April 16 to May 31, 2026.
- Over $4.2 million in potential crypto scam losses were blocked.
- More than 145 potential scam victims were reached.
- The operation targeted government impersonation, investment, job, and love scams.
- Coinbase froze over $3 million in cryptocurrency tied to Southeast Asia crypto fraud networks in a separate operation.
- A larger international operation froze approximately $701 million in crypto assets and seized 503 fraudulent investment websites.
Singapore Police, in collaboration with Chainalysis, TRM Labs, and several cryptocurrency exchanges, concluded a six-week anti-scam operation from April 16 to May 31, 2026. This operation successfully blocked over $4.2 million in potential crypto scam losses and reached more than 145 potential victims through interventions. The targeted scams included government impersonation, investment, job, and love scams. Participating exchanges included Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit. These efforts build on a previous operation that protected $2.86 million for over 90 victims, bringing the total thwarted losses across both operations to over $7 million. Separately, as part of a global crackdown led by the U.S. Department of Justice's Scam Center Strike Force, Coinbase froze over $3 million in cryptocurrency tied to Southeast Asia crypto fraud networks. This larger international operation resulted in the seizure of 503 fraudulent investment websites and the shutdown of a scam recruitment Telegram channel, with authorities freezing approximately $701 million in crypto assets.