Singapore police report a decline in overall scam losses, but crypto fraud remains significant, with major cases involving Tether, Bitcoin, and Ethereum.
Singapore police announced that citizens lost about SGD 456 million to scams in the first half of 2025, a SGD 66 million drop from last year. Cases of scam and cybercrime fell 21.5% year-over-year to 22,476. Crypto-related scams accounted for nearly 18% of total losses at SGD 81.6 million, primarily involving Tether, Bitcoin, and Ethereum. The Anti-Scam Command recovered SGD 56.7 million, including SGD 17 million in cryptocurrencies, and prevented an additional SGD 179 million in potential losses.