Blockchain Analysis Helps Singapore Police Force Stop $4.2M in Crypto Scam Funds

TLDR:

• Singapore Police Force blockchain analysis helped block over $4.2M in potential crypto scam losses in six weeks.
• Seven crypto exchanges including Coinbase, OKX, and Gemini supported the SPF’s second joint anti-scam operation.
• Officers conducted 145+ targeted interventions using Chainalysis and TRM Labs blockchain analytical tools.
• The operation covered government impersonation, investment, job, and love scam categories across Singapore.

The Singapore Police Force blockchain analysis operation has blocked over $4.2 million in potential scam losses. Running from April 16 to May 31, 2026, the six-week effort reached more than 145 victims across multiple scam categories.

The Anti-Scam Centre and Cyber Investigation Branch partnered with seven cryptocurrency exchanges. Advanced analytical tools from Chainalysis and TRM Labs powered the interventions.

The operation marks the second collaboration of its kind between the SPF and the private sector.

Exchanges and Tools Drive Faster Victim Identification

The second operation expanded on the foundation set by the first joint effort. That earlier campaign had protected $2.86 million and reached over 90 victims.

This time, the participating exchanges included Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit. The broader consortium allowed officers to cast a wider net across the blockchain.

Chainalysis publicly acknowledged the growing impact of the partnership. “From $2.86M to the addition of $4.2M protected. From 90+ to 145+ victims reached,” the firm stated.

It added that when public-private partnerships are sustained and scaled, impact grows. The numbers reflect a measurable step forward in proactive crypto crime prevention.

Officers conducted more than 145 targeted interventions through phone calls and in-person visits. Exchanges facilitated this by providing timely customer data upon request.

The scam categories covered included government impersonation, investment fraud, job scams, and love scams.

The combination of investigative capability and exchange cooperation made early detection possible. Without the data-sharing agreements in place, officers would have had fewer entry points into victim identification. The operation showed how intelligence-led policing can work effectively within the crypto space.

Public Awareness Remains Central to the Anti-Scam Strategy

Beyond the technical operations, the SPF maintained its public education push throughout the campaign. The force continues to promote its “ACT” framework, which stands for Add, Check, and Tell. Each element targets a different stage of scam prevention for ordinary users.

Under the Add step, residents are encouraged to install the ScamShield app and activate two-factor authentication.

Setting transaction limits on banking and PayNow accounts also reduces exposure. These measures work as a first line of defense before a scam reaches a critical stage.

The Check step urges the public to pause before transferring money or sharing personal details. Verifying the legitimacy of requests and online listings can prevent losses before they occur. The rule of thumb remains straightforward: if it appears too good to be true, it probably is.

The Tell step involves reporting scam encounters to banks, ScamShield, or directly to police. Residents can call the ScamShield Helpline at 1799 or reach the Police Hotline at 1800-255-0000. Sharing information about active scams within communities also helps limit the reach of fraudsters.