PANews reported on June 21 that according to Lianhe Zaobao, a woman is suspected of falling into a cryptocurrency investment scam, successively handing over more than 1.3 million Singapore dollars (approximately 1.01 million US dollars) to a 23-year-old man since May. After receiving the report, Singapore police quickly launched an investigation and arrested the man at the Woodlands Checkpoint on June 20 before he attempted to leave the country.
The police statement indicated that the authorities received a report from a bank where a female customer was prevented from withdrawing a large sum of money by a bank staff member who suspected she might be a victim of a scam. Police subsequently successfully located the woman to understand the situation and discovered she might be a victim of a cryptocurrency investment fraud. Preliminary investigations showed that before police intervention, she had withdrawn over 300,000 Singapore dollars from another bank branch and handed the money to the man in exchange for cryptocurrency. Police said the woman had given more than 1.3 million Singapore dollars to this man since May 2025.
