Singapore Police Partner with Coinbase, OKX and Other Exchanges in Anti-Fraud Operation to Prevent $17.4 Million Loss

on November 06, citing The Block, that the Singapore Police Force successfully blocked approximately $17.4 million in fraud losses during a joint operation with cryptocurrency exchanges.

Police utilized blockchain analytics technology and customer data provided by platforms such as Coinbase and OKX to identify over 383 fraud victims. Additionally, the police shared intelligence with the US Federal Bureau of Investigation (FBI), the New South Wales Police Force in Australia, and the Canadian Anti-Fraud Centre, further identifying 32 overseas victims.