Singapore Police and Crypto Exchanges Launch Joint Operation Against Scam-Linked Accounts

Singapore police intensified digital asset enforcement with major exchanges targeting scam-related crypto activity. The move strengthens real-time tracking of suspicious blockchain flows as authorities push to curb fraud risks.

Key Takeaways:

• Singapore Police Force expanded crypto crackdown on scam-related crypto activity.
• Coinbase, Gemini, Upbit, and Coinhako among the firms that backed enforcement action.
• Chainalysis and TRM Labs tools helped detect victims and reduce scam losses.

Singapore Crypto Crackdown Targets Scam-Linked Accounts

Singapore authorities escalated their push against crypto-linked crime after a coordinated enforcement action involving police and cryptocurrency exchanges. The operation underscored deeper cooperation between law enforcement and digital asset platforms as officials move to disrupt scam-related digital asset flows and cybercrime risks.

The Singapore Police Force (SPF) said on April 23, 2026, that it had worked with multiple cryptocurrency exchanges, including Coinbase, Coinhako, Gemini, Independent Reserve, StraitsX, and Upbit, in a joint operation supported by blockchain analytics firms Chainalysis and TRM Labs. Chainalysis said on social media platform X that its blockchain analysis tools helped detect more than 90 scam victims and prevent over $2.86 million in losses during a one-month anti-scam operation across major crypto exchanges. The release stated:

“The Police would like to thank the cryptocurrency exchanges for their strong support and partnership in this operation.”

Authorities said the cooperation supported faster tracing of digital transactions and helped identify scam victims before further losses occurred. The operation focused on scams where crypto assets were used in fraudulent activity.

SPF Exchange Partnerships Raise Enforcement Pressure

Investigators examined cases involving individuals suspected of facilitating scams through digital asset accounts. These accounts were allegedly used to receive and transfer proceeds linked to fraudulent schemes. Chainalysis said the operation targeted investment scams, job scams, romance scams, and government impersonation scams.

The collaboration with exchanges and blockchain analytics firms helped enforcement teams identify scam victims faster and intervene before further losses occurred. Officials presented private-sector partnerships as an important enforcement tool as criminals increasingly rely on cryptocurrencies for cross-border transactions.

Authorities also said continued vigilance and coordination remain important as scammers route fraudulent activity through crypto platforms. Chainalysis detailed on X:

“Our blockchain analysis tools helped detect 90+ scam victims and prevent over $2.86M in losses during a one-month anti-scam operation across major crypto exchanges.”

“When law enforcement have the right tools and real-time collaboration, scammers lose the anonymity they’re counting on,” the blockchain analytics firm noted. The police said continued vigilance and coordination remain central to reducing scam losses and improving enforcement outcomes.