A month-long operation from March 16 to April 15 involved Coinbase, Coinhako, StraitsX and Upbit, using blockchain analytics tools to trace scam-linked transfers and identify victims.
Singapore police worked with Coinbase, Coinhako, StraitsX and Upbit to block more than $2.86 million in scam-related funds during an enforcement operation that ran from March 16 to April 15. The effort used tools from TRM Labs and Chainalysis, two blockchain analytics firms, to identify victims and trace transactions tied to impersonation, investment, job and romance scams. The operation highlights how law enforcement and crypto service providers are increasingly using blockchain forensics (tracking on-chain fund movements) to disrupt fraud and recover or freeze illicit transfers before they are withdrawn or moved further.