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Singapore Police and Crypto Exchanges Team Up to Block $4.2M in Scam Losses

Cryptorank • June 4, 2026

Singapore police partnered with major crypto exchanges including Coinbase, Gemini, OKX, Coinhako, Independent Reserve, StraitsX and Upbit in a joint operation from April 16 to May 31, 2026 that warned over 145 potential victims and prevented more than $4.2 million in scam losses before funds were lost. Exchanges supplied data and custody support and authorities plan a new Cyber Command to bolster digital crime and scam tracking, improving crypto security and institutional cooperation.

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Singapore police prevented more than $4.2 million in potential losses during a crypto scam operation with major digital asset exchanges. The Anti-Scam Centre and Cyber Investigation Branch ran the operation from April 16 to May 31, 2026.

According to the report , law enforcement agencies and crypto exchanges conducted their second joint operation. Its emphasis is on preventing suspected victims from forwarding money to swindlers.

Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit took part in the operation.Those platforms offered cust…

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Singapore Police Block $4.2M in Crypto Scam Losses with Exchange Collaboration Singapore police, in collaboration with major crypto exchanges, prevented over $4.2 million in potential losses from various scams during an operation conducted from April 16 to May 31, 2026. The Anti-Scam Centre and Cyber Investigation Branch identified over 145 potential victims through advanced blockchain analysis tools provided by Chainalysis and TRM Labs. The operation targeted multiple scam types, including impersonation, investment, job, and love scams. Police contacted victims directly to warn them before funds were transferred. This operation marks the second joint effort between law enforcement and crypto exchanges, showcasing the effectiveness of public-private partnerships in combating financial crime. The police emphasized the need for continued collaboration as scam methods evolve. A new Cyber Command unit is set to begin operations in July 2026 to further enhance cybercrime investigations. The operation was officially reported on June 2, 2026. 4 sources 37

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Singapore Police and Crypto Exchanges Team Up to Block $4.2M in Scam Losses

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