Over $7 million in potential losses has now been stopped across two back-to-back operations after Singapore’s Anti-Scam Centre and Cyber Investigation Branch joined forces with some of the world’s biggest crypto exchanges to intercept scams before victims lost their funds.
How Blockchain Tools Tracked The SuspectsThe second operation ran from April 16 to May 31, 2026, pulling in Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit as partners. Blockchain analytics firms Chainalysis and TRM Labs supplied the investigative tools that allowed officers to trace suspicious wallet movements across multiple scam types, including government impersonation schemes, fake investment platforms, job scams, and romance fraud.
Officials said the outcome of the second operation reinforces the value of keeping law enforcement and the crypto industry working together. “The outcome of the second operation reaffirms the importance of sustained public-private partnerships in the fight against scams,” the Singapore Police Force said in a statement.
The city-state has also moved against corporate misconduct in the crypto sector. Last week, Singapore prosecutors charged Zhu Juntao, the former CEO of collapsed crypto lender Hodlnaut, in connection with alleged false disclosures tied to the 2022 Terra ecosystem collapse.
Authorities said the combination of blockchain intelligence and real-time coordination with exchanges has become one of the most reliable ways to catch scams early and cut financial harm before it compounds. The police confirmed the operation was officially reported on June 2, 2026.
Featured image from Pexels, chart from TradingView
