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Singapore Crypto Scam Losses Decrease by 43% Year-on-Year, Coinbase Aids in Intercepting Over SGD 18.9 Million

On October 13, according to an official blog from Coinbase, the Anti-Scam Centre (ASC) of the Singapore Police Force released a briefing on fraud and cybercrime for the first half of 2026, indicating that losses from cryptocurrency scams in Singapore have decreased by 43% year-on-year, from SGD 114.9 million to SGD 65.5 million. The ASC attributes this achievement in part to collaborative actions with industry partners, including the shutdown of 47,500 phone lines, 37,500 WhatsApp accounts, and 52,200 malicious websites, as well as investigations into over 2,900 money mules and scammers, leading to approximately 470 prosecutions. Additionally, Coinbase's global intelligence team conducted four joint operations with the ASC, identifying over 720 potential victims and assisting in intercepting potential losses exceeding SGD 18.9 million.

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