Singapore police collaborate with cryptocurrency exchanges to prevent $17.4 million in fraud losses

According to The Block, the Singapore Police Force stated that they successfully prevented $17.4 million in fraud losses in a joint operation with cryptocurrency exchanges.

The police utilized blockchain analysis and customer data from platforms such as Coinbase and OKX to identify over 383 victims. Intelligence shared with the FBI, New South Wales Police Force, and the Canadian Anti-Fraud Centre also helped identify 32 foreign victims.