Singapore Police and major crypto exchanges used Chainalysis and TRM Labs to disrupt scam-linked accounts, preventing over $2.86M in losses; U.S. DOJ restrains $700M and State Dept offers $ $10M reward
first published 2026-04-25T01:05:39Z
On April 23, 2026 the Singapore Police Force coordinated with Coinbase, Coinhako, Gemini, Independent Reserve, StraitsX and Upbit and blockchain analytics firms Chainalysis and TRM Labs to detect 90+ scam victims and disrupt accounts used to receive and transfer proceeds from investment, job, romance and government-impersonation scams, preventing more than $2.86 million in losses via faster tracing and real-time collaboration.
AI Analysis
The operation involved Singapore Police working directly with major exchanges (Coinbase, Coinhako, Gemini, Independent Reserve, StraitsX, Upbit) and analytics vendors (Chainalysis, TRM Labs) to detect 90+ scam victims and prevent over $2.86 million in losses through faster tracing and real-time collaboration, which are factual details from the summary.
Expected Investor Sentiment: Neutral
Potential Market Impact: Significant
