Two officers tracing cryptocurrency crime for the Singapore Police Force (SPF) begin many of their cases with what looks like a random string of letters and numbers: a digital wallet address, the identifier used to send and receive cryptocurrency. Assistant Superintendent of Police (ASP) Mohamed Shariff Ahmed Munshi and Mr Muhammad Syazwan Bin Suhaimi follow those records to support investigations, disrupt illicit transfers and protect people from further harm, according to an account published by the force (Beyond the Blockchain: Two Officers Tracing Cryptocurrency Crime).

The two serve in different units of Cyber Command. ASP Shariff is a Cryptocurrency Tracing Officer with the Anti-Scam Centre's Crypto Tracing Team, while Mr Syazwan is a Cyber Specialist (Cryptocurrency) with the Cybercrime Investigation Branch (CIB).

Following Funds Across Wallets

For ASP Shariff, a case often begins when a scam victim files a police report. Investigators may hold nothing more than a wallet address or a transaction record showing where cryptocurrency went. Because most cryptocurrency transactions are permanently recorded on public blockchains that anyone can inspect, even that single address can serve as a starting point when little else is known about who controls it. His team applies blockchain analytics to follow funds across wallets and platforms, seeking leads that could interrupt the flow of money or preserve assets before they become harder to recover.

"Blockchain analysis turns a string of digital wallet addresses into a clear picture of how the money is moving," he said. The resulting trail can reveal that a scam that appears isolated is in fact connected to a wider digital crime network.

Transaction tracing also helps investigators reach people who may still be caught in scams. Some victims believe they are making legitimate investments or assisting someone they trust; by the time police contact them, they may already have transferred substantial funds and be preparing to send more.

In proactive operations with industry partners, Cyber Command uses blockchain analysis to identify potential victims before another transfer takes place. Between March and August 2026, four joint operations involving the police, participating cryptocurrency exchanges and digital payment token service providers (in Singapore, firms licensed by the Monetary Authority of Singapore under the Payment Services Act) identified more than 720 potential scam victims and prevented more than $18.9 million in potential losses. The figures underline the stakes of timing: reaching a victim before the next transfer can mean the difference between an attempted scam and a realized loss.

When a person remains convinced that a scammer is genuine, ASP Shariff and his team walk them through the evidence, showing how the money moved between wallets. He said such investigations demand patience and empathy as well as the ability to uncover the truth.

Custom Tools for Concealed Transfers

Mr Syazwan applies cybersecurity expertise to cryptocurrency-linked cybercrime investigations. Seconded from the Cyber Security Agency of Singapore in 2025, he examines digital evidence and develops tools to support investigations, combining open-source intelligence with evidence from systems and devices to identify threat actors.

Commercial blockchain analytics platforms help investigators map wallet activity, but some case requirements call for tools that are not available off the shelf. Mr Syazwan builds customized tools to analyze complex transactions and examine the methods criminals use to conceal fund movements.

One case involved a cryptocurrency exchange hack worth around $8.8 million. Part of the stolen funds had passed through a privacy mixer, a service designed to scramble the money trail and make it harder to determine which funds belong to whom. Using a tool he built himself, Mr Syazwan analyzed that activity and identified funds linked to the stolen proceeds, leading investigators directly to the accused.

Victim Protection Remains Central

Criminal methods continue to evolve alongside cryptocurrency and the broader technology landscape. The police account notes that artificial intelligence can make scams more convincing through polished messages, impersonation and fabricated audio or video. Cyber Command officers are continuing to strengthen technical capabilities, develop investigative methods and work with industry partners and overseas agencies. From here, the developments worth watching are the ones the account itself flags: AI-assisted scam tactics, the continued buildout of tracing capabilities, and ongoing cooperation with industry and overseas agencies.\nFor ASP Shariff, the work is grounded in the people behind the addresses. "Behind every digital wallet address is a real person," he said. Mr Syazwan described the satisfaction of turning an apparently impossible trail into a meaningful lead, and of seeing his tools help other officers work more efficiently. In the joint operations described by the police, officers reached potential victims before they transferred any more money.