TREE NEWS update: Singapore police blocked more than S$17.4 million ($13.6 million) in potential losses during a crypto anti-scam operation from Sept. 1 to Oct. 31, working with eight digital payment token service providers including Coinbase, Coinhako, DTCPay, Gemini, Independent Reserve, OKX, StraitsX and Upbit. More than 383 potential scam victims were identified, with interventions covering impersonation of government officials, investment and job scams. Blockchain analytics from Chainalysis and TRM Labs supported the effort, and on-chain intelligence shared with the FBI, New South Wales Police and the Canadian Anti-Fraud Centre identified 32 overseas potential victims.
Singapore Police Block Over S$17.4M in Crypto Scam Losses With 8 Platforms
AI take
The interesting signal here is operational, not the headline figure: a multi-platform, multi-jurisdiction intervention model is becoming the default response to crypto fraud, with exchanges and analytics vendors acting as de facto enforcement nodes. That shifts compliance burden onto the eight listed providers and raises the bar for smaller platforms without analytics partnerships. Whether this coordination model scales beyond bilateral intelligence-sharing — and whether platform-level screening catches impersonation scams earlier — is the open question worth tracking.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.
Related News
31m ago
China Merchants Bank Hong Kong to Suspend Broker Transfer Services for Two Securities Firms
39m ago
China’s CSRC Approves Baolun Shares’ Shanghai Main Board IPO Registration
53m ago
China’s CAC, Financial Regulator Target Accounts Spreading Financial ‘Black-Gray’ Content
55m ago
China’s Market Regulator Issues Compliance Notice for ‘Double 11’ Promotions
1h ago
SAFE Seeks Public Comment on 2027 Foreign Financial Assets and Liabilities Statistical Verification Rules
1h ago
Hyperliquid Strategies Subsidiary Files for FCM to Bring Perpetuals to US