"The Singapore Police Force (SPF) announced a coordinated enforcement action involving multiple cryptocurrency exchanges, including Coinbase, Coinhako, and Gemini, to combat scam-related activities in the crypto space."
"Chainalysis reported that its blockchain analysis tools played a crucial role in detecting more than 90 scam victims and preventing over $2.86 million in losses during a one-month anti-scam operation."
Singapore authorities escalated efforts against crypto-linked crime through a coordinated operation with major exchanges like Coinbase and Gemini. This initiative, supported by blockchain analytics firms Chainalysis and TRM Labs, aimed to disrupt scam-related digital asset flows. The operation successfully detected over 90 scam victims and prevented losses exceeding $2.86 million. Enhanced cooperation between law enforcement and digital asset platforms facilitated faster tracing of transactions and identification of victims, reinforcing the commitment to combat cybercrime in the cryptocurrency space.
Read at news.bitcoin.com
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