Singapore police worked with Coinbase and six other crypto exchanges over a six-week period to stop more than $4.2 million in potential scam losses. The operation ran from April 16 to May 31, 2026. Authorities reached at least 145 potential victims before they could complete their transfers.
The Singapore Police Force placed blockchain analysis at the center of the operation. Its Anti-Scam Centre and Cyber Investigation Branch used tools from Chainalysis and TRM Labs to trace activity. They looked for patterns linked to government impersonation, investment fraud, job scams, and relationship scams. This analysis helped identify people who appeared likely to send funds to scammers.
Coinbase shared details on July 10 in an X post. The platform stated that it worked closely with the police on the joint operation. Together, they stopped 145 people from losing a combined $4.2 million.
How Police and Exchanges Worked Together
Blockchain records show transaction patterns. But authorities still need a way to identify and contact potential victims. The Singapore Police operation combined investigative authority with customer data held by exchanges. This created a direct path from suspicious blockchain activity to preventive action.
Coinbase, Coinhako, Gemini, Independent Reserve, OKX, StraitsX, and Upbit all participated. The police said these exchanges provided timely customer information. That allowed officers to conduct more than 145 targeted interventions. Contact happened by phone and in person.
One limitation is that the numbers reflect potential losses prevented. They do not break down individual cases or transaction-level data. It is unclear how many flagged cases were confirmed as scams. Additional disclosures could show how often police interventions actually prevented transfers. That would give a clearer picture of the partnership’s effectiveness.
Continued Commitment to Public-Private Cybercrime Prevention
The Singapore Police Force emphasized its commitment to working closely with exchanges and other private sector partners. The goal is to combat cybercrime through proactive, intelligence-driven operations.
The partnership remains active. Its lasting significance will depend on documented outcomes. Evidence that early detection consistently prevents completed scam payments would strengthen the model. Further official data on confirmed scams, enforcement actions, and repeat interventions would provide a fuller picture of how well the approach protects cryptocurrency users.
