CoinVoice has learned that, according to the United Daily News, a woman is suspected of falling into a cryptocurrency investment scam, and since May she has handed over more than 1.3 million Singapore dollars (approximately 1.01 million US dollars) to a 23-year-old man. Singapore police launched an investigation after receiving reports, and on June 20, the man was arrested at the Woodlands Checkpoint while attempting to leave the country.

The police stated that a bank reported to the authorities when the woman attempted to withdraw a large sum of money, as staff suspected she had been scammed. The police subsequently contacted the woman to understand the situation, and initial investigations showed that she had withdrawn more than 300,000 Singapore dollars from another bank branch and handed it over to the man in exchange for cryptocurrency. [Original link]