SINGAPORE: More than 355 victims avoided losing over S$8.94 million to cryptocurrency scams in July and August thanks to a joint operation by the police and digital payment token (DPT) service providers.

In a statement on Thursday (Sept 3), the police said the fourth anti-cryptocurrency scam operation took place from July 1 to Aug 31.

The Singapore Police Force’s Cyber Command partnered DPT service providers, including Coinbase, Coinhako, DTCPay, Gemini, Independent Reserve, OKX, StraitsX and Upbit.

The police said officers conducted advanced blockchain analysis using tools from industry leaders Chainalysis and TRM Labs to identify victims of different…