Coinbase worked with Singapore police to identify and block more than $4.2 million in cryptocurrency scam funds, preventing losses for over 145 potential victims. The effort was carried out under Singapore’s anti-scam collaboration framework, SAFE, with Coinbase monitoring suspicious transactions alongside law enforcement and freezing related assets in time. Authorities have not disclosed details about the scam group involved, and it remains unclear whether a criminal investigation has been launched. The update was cited by Cointelegraph.
Coinbase worked with Singapore police to identify and block more than $4.2 million in cryptocurrency scam funds, preventing losses for over 145 potential victims.
The operation was carried out under Singapore’s anti-scam collaboration framework, SAFE. Coinbase monitored suspicious transactions with law enforcement and froze related assets in time.
Authorities have not disclosed details about the scam group involved, and they have not said whether a criminal investigation will follow. The update cited Cointelegraph.
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