Singapore’s Cyber Command and eight digital payment token providers prevented more than 355 victims from losing over S$8.94 million to cryptocurrency scams during a joint operation held from July 1 to Aug. 31, 2026, according to a Sept. 3 statement from the Singapore Police Force. The initiative was the fourth anti-cryptocurrency scam operation involving police and crypto service providers.

Police said the operation focused on identifying people who may have been targeted by cryptocurrency scams and intervening before further losses occurred. The result highlights the role that cooperation between investigators and digital payment token providers can play in efforts to detect suspected scam activity early. That cooperation is significant in Singapore’s regulatory environment, where digital payment token service providers are licensed and supervised by the Monetary Authority of Singapore under the Payment Services Act, giving authorities established channels for working with the sector.

Big win for crypto users

Coinbase, OKX, Gemini, and othr exchanges workd with Singapore Police to stop over $4.2M in crypto scams in just 6 weeks

Using blockchain analytcs, they spotted 145 potential victims before they even sent the money… Police even called or visitd… pic.twitter.com/aGyAj502l8

— SBlockSpy (@SBlockspy) July 12, 2026 (https://x.com/SBlockspy/status/2076247155854209129)

Singapore’s fourth anti-cryptocurrency scam operation

The operation involved the Singapore Police Force’s Cyber Command and eight digital payment token service providers: Coinbase, Coinhako, DTCPay, Gemini, Independent Reserve, OKX, StraitsX, and Upbit. Police officers used blockchain analysis tools from Chainalysis and TRM Labs to identify victims linked to government-official impersonation, investment, and job scams. The use of such on-chain analytics tools reflects a broader trend among law enforcement agencies, which increasingly rely on blockchain forensics firms to trace cryptocurrency flows tied to criminal activity.

Participating providers supplied customer information that helped police identify victims. Officers then intervened by phone and in person, according to the police statement. More than 355 victims avoided combined losses exceeding S$8.94 million through the operation.

Police also shared blockchain intelligence from the operation with overseas law enforcement counterparts, including the United States Federal Bureau of Investigation and the Cybercrime Squad of the New South Wales Police Force. The information-sharing led to the identification of 50 victims outside Singapore, police said. The cross-border element points to the international nature of cryptocurrency scams, where victims, operators, and illicit wallets often sit in different jurisdictions.

The July-August operation followed a June anti-scam operation involving police and several cryptocurrency exchanges. That earlier operation prevented more than 130 victims from losing over S$2.9 million, according to the police.

What the operation says about crypto scam prevention

The Singapore Police Force said the outcome reinforced the importance of sustained public-private partnerships and international collaboration in the fight against scams. It pointed to the combination of Cyber Command’s investigative and technical capabilities, support from digital payment token providers, and cooperation with foreign law enforcement agencies as an approach that has helped detect scam activity early and protect the public from financial harm.

The scam types identified in the operation included government official impersonation, investment, and job scams. Police said blockchain analysis and information supplied by participating providers helped officers identify potential victims and make direct contact during the intervention.

The operation also illustrates how cryptocurrency scam prevention can involve coordination across several parties. Police investigators, service providers, and overseas counterparts each contributed information or support to the effort. The police said they will continue to cooperate closely with these partners and other stakeholders to combat cybercrime as scam tactics grow more sophisticated and operate on a greater scale.

For users of digital payment token services, the case underscores the value of responding cautiously to suspicious requests and seeking verification before making transfers. The police’s intervention model relied on identifying victims early enough for officers to contact them, making public awareness an important part of the broader anti-scam effort. Whether similar operations continue at this cadence is likely to depend on sustained participation from exchanges and analytics providers.

Police urge the public to follow ACT

The Singapore Police Force advised the public to follow the ACT framework: Add security features, Check for signs, and Tell authorities and others about scams. The guidance is intended to help people strengthen account security, assess suspicious approaches, and report concerns promptly.

Police said they will continue working with digital payment token providers, foreign law enforcement agencies, and other stakeholders. The fourth operation’s results show how that collaboration was used to identify victims and avert potential cryptocurrency scam losses in Singapore and overseas.

Source: ICO Bench