PANews June 21 news, according to Lianhe Zaobao, a woman is suspected to have fallen into a cryptocurrency investment scam, having handed over more than 1.3 million Singapore dollars (approximately 1.01 million US dollars) to a 23-year-old man since May. The Singapore police quickly launched an investigation after receiving the report and arrested the man at the Woodlands checkpoint on June 20 before he attempted to leave the country.
The police stated that they received a report from a bank that a woman was stopped by bank staff while attempting to withdraw a large sum of money, as the staff suspected she might be encountering a scam. The police then successfully located the woman to understand the situation and found that she might be a victim of a cryptocurrency investment scam. Initial investigations revealed that before police intervention, she had withdrawn over 300,000 Singapore dollars from another bank branch and handed the money over to a man in exchange for cryptocurrency. The police stated that since May 2025, this woman has handed over more than 1.3 million Singapore dollars to this man.