Chainalysis and Singapore Police Block $4.2M in Crypto Scam Losses

Singapore Police and Chainalysis blocked $4.2M in crypto scam losses, reaching 145+ victims in a six-week anti-scam operation.

The Singapore Police Force has wrapped up a second joint anti-scam operation. Working alongside Chainalysis and several cryptocurrency exchanges, the Anti-Scam Centre and Cyber Investigation Branch stopped over $4.2 million in potential losses. 

The six-week operation ran from April 16 to May 31, 2026. Officers reached more than 145 potential scam victims through phone calls and in-person interventions.

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How Blockchain Analysis Tools Powered the Anti-Crypto Scam Operation

The operation relied heavily on advanced blockchain analysis. 

Officers used tools from Chainalysis and TRM Labs to trace suspicious fund movements. Those tools helped identify victims early, before money left their wallets for good.

Participating exchanges included Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit. Each exchange provided customer information on time. That data gave officers the leads needed to act fast and reach victims directly.

The scam categories covered in the operation were wide-ranging. 

Police targeted government impersonation scams, investment scams, job scams, and love scams. The variety shows how broadly crypto fraud has spread across different vulnerable groups.

Chainalysis described the outcome as a direct result of scaled public-private collaboration. 

The firm noted the operation built on an earlier effort that had already protected $2.86 million. The jump in both funds protected and victims reached reflects what sustained partnerships can achieve.

Singapore Police Scale Up Crypto Fraud Prevention Efforts

This second operation marks a clear expansion of Singapore’s approach to crypto fraud. The first operation covered 90-plus victims. The second reached more than 145, a significant increase in just one follow-up cycle.

The Anti-Scam Centre and Cyber Investigation Branch drove the coordination between law enforcement and private sector partners. Their combined technical capacity allowed for rapid victim identification. Interventions happened before losses could escalate further.

The Singapore Police Force emphasized that scams are growing in both sophistication and scale. The statement from the force pointed to intelligence-driven operations as the way forward. Proactive detection, rather than reactive investigation, was central to this effort.

The police also noted their commitment to continuing these partnerships. 

Future operations with crypto exchanges and other private sector players are expected. The force framed this as an ongoing strategy, not a one-off initiative.

Public Urged to ACT as Crypto Scams Grow More Complex

Beyond the operation itself, the Singapore Police Force issued guidance for the public. They introduced the ACT framework as a tool for everyday scam prevention. ACT stands for Add security features, Check for signs, and Tell the authorities.

The call to action reflects the reality that law enforcement cannot work alone. Scam victims often lose money before any intervention is possible. Public awareness remains a critical layer in the overall defense against crypto fraud.

Chainalysis, for its part, shared news of the operation on its official X account. The firm expressed pride in supporting the Singapore Police Force again. 

Its post highlighted the growth in results between the first and second operations as evidence of what coordinated action can deliver.

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