According to BlockBeats, Singapore police have partnered with local cryptocurrency platform StraitsX to conduct an enforcement operation targeting money laundering through cryptocurrency accounts. The operation took place from May 13 to May 30.
Authorities reported the seizure of over 200,000 Singapore dollars, with 49 individuals under investigation. The group includes 35 men and 14 women, aged between 18 and 58. Preliminary investigations suggest that these individuals opened and transferred their cryptocurrency accounts or Singpass accounts for rewards ranging from 400 to 3,000 Singapore dollars. They typically communicated with unknown individuals via platforms like Telegram or WhatsApp, providing account screenshots, personal information, and access permissions as instructed. These accounts were subsequently used for laundering proceeds from scams.
The police highlighted that collaboration with StraitsX has enhanced their ability to detect suspicious financial activities. Through this partnership, advanced technological solutions were introduced, enabling the successful identification and tracking of multiple suspicious accounts.