A Singaporean woman was scammed out of 120,000 USD in a cryptocurrency-related romance scam. The scammer pretended to be in love and convinced the victim to transfer her entire savings into a cryptocurrency wallet with the promise of building a new life together. The woman even withdrew her two children from school to prepare to travel abroad to meet the “boyfriend” she had never met before. However, thanks to the police detecting the unusual transactions, she was stopped in time.
Blockchain analysis shows that money is being laundered through multiple scam wallets. In 2024, Singapore suffered losses of about 1.1 billion USD due to scams, with nearly 25% related to cryptocurrency. In the first half of 2025, more than 81.6 million USD in cryptocurrency was seized. The Singapore police advise the public to be vigilant, especially regarding online relationships related to cryptocurrency investments.
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