According to reports from Wu, the Singapore Police Force, in collaboration with the cryptocurrency payment platform StraitsX, launched an operation from May 13 to 30 to combat cryptocurrency money laundering activities. A total of 35 men and 14 women assisted in the investigation.
During the operation, over 200,000 Singapore dollars in cash were seized. The police indicated that these individuals were suspected of lending their cryptocurrency accounts or Singpass information to fraudsters, with each earning between 400 to 3000 dollars. The relevant accounts are suspected to have been used to launder illicit funds.