Joint operation by Singapore police, crypto exchanges stops scam victims from losing almost S$9mil

The fourth anti-cryptocurrency scam operation took place from July 1 to Aug 31. - Photo: ST

SINGAPORE: More than 355 victims avoided losing over S$8.94 million to cryptocurrency scams in July and August thanks to a joint operation by the police and digital payment token (DPT) service providers.

In a statement on Thursday (Sept 3), the police said the fourth anti-cryptocurrency scam operation took place from July 1 to Aug 31.

The Singapore Police Force’s Cyber Command partnered DPT service providers, including Coinbase, Coinhako, DTCPay, Gemini, Independent Reserve, OKX, StraitsX and Upbit.

The police said officers conducted advanced blockchain analysis using tools from industry leaders Chainalysis and TRM Labs to identify victims of different types of scams, including government officials impersonation, investment and job scams.

Participating DPT service providers supplied customer information that helped to identify victims, allowing officers to intervene over the phone and in-person, preventing millions of dollars in losses.

The police said they also shared blockchain intelligence derived from the operation with foreign law enforcement counterparts, including the United States’ Federal Bureau of Investigation and the Cybercrime Squad New South Wales Police Force.

This led to the identification of 50 overseas victims.

“The outcome of the fourth operation reaffirms the importance of sustained public-private partnerships and international collaboration in the fight against scams,” said the police.

“As scams continue to grow in sophistication and scale, the combination of the Cyber Command’s investigative and technical capabilities, support from DPT service providers, and cooperation with foreign law enforcement agencies has proven to be an effective approach in detecting scam activities early and protecting members of the public from financial harm.”

The police said they will continue to cooperate closely with these partners and other stakeholders to combat cybercrime.

The police advised members of the public to protect themselves against scams by following steps spelled out in “ACT” – Add security features, Check for signs, and Tell the authorities and others about scams.

In June, the third anti-scam operation by the police and several cryptocurrency exchanges prevented more than 130 victims from losing over $2.9 million. - The Straits Times/ANN

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Joint operation by Singapore police, crypto exchanges stops scam victims from losing almost S$9mil

第四次打击加密货币诈骗行动于7月1日至8月31日进行。——图片来源：ST

新加坡：由于警方和数字支付代币 (DPT) 服务提供商的联合行动，7 月和 8 月期间，超过 355 名受害者避免了因加密货币诈骗而损失超过 894 万新元。

警方在周四（9月3日）发表的声明中表示，第四次打击加密货币诈骗行动于7月1日至8月31日期间展开。

新加坡警察部队网络指挥部与多家 DPT 服务提供商合作，包括 Coinbase、Coinhako、DTCPay、Gemini、Independent Reserve、OKX、StraitsX 和 Upbit。

警方表示，警员们利用行业领先企业 Chainalysis 和 TRM Labs 的工具进行了先进的区块链分析，以识别不同类型诈骗的受害者，包括冒充政府官员、投资诈骗和求职诈骗。

参与 DPT 服务的供应商提供了客户信息，帮助识别受害者，使警官能够通过电话和亲自介入，从而避免了数百万美元的损失。

警方表示，他们还与外国执法部门分享了从此次行动中获得的区块链情报，包括美国联邦调查局和新南威尔士州警察网络犯罪小组。

这导致确认了 50 名海外受害者。

警方表示：“第四次行动的结果再次证明了持续的公私合作和国际合作在打击诈骗方面的重要性。”

“随着诈骗手段日益复杂化和规模不断扩大，网络司令部的调查和技术能力、DPT服务提供商的支持以及与外国执法机构的合作已被证明是及早发现诈骗活动并保护公众免受经济损失的有效方法。”

警方表示，他们将继续与这些合作伙伴和其他利益相关者密切合作，打击网络犯罪。

警方建议公众按照“ACT”中列出的步骤保护自己免受诈骗——增加安全措施、检查迹象、向当局和其他人举报诈骗行为。

6月，警方与多家加密货币交易所联合开展的第三次反诈骗行动，阻止了130多名受害者损失超过290万美元。——《海峡时报》/亚洲新闻网

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