Odaily Planet Daily reports that the Singapore Police Force announced that they arrested three Singaporeans suspected of money laundering related to the Prince Group from November last year to January this year. They have also issued an arrest warrant for another Singaporean woman, Chen Xiuling. To date, the total value of Singaporean assets seized or restricted in connection with this case has exceeded 500 million SGD (approximately 2.7 billion RMB). Analysts point out that Singapore has a highly developed digital financial environment and a large high-net-worth population, making it also a hotbed for scams. Locally, scams have evolved into crimes supported by artificial intelligence and blockchain, with total losses surpassing 1.1 billion SGD in 2024. (Jiemian News)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
CFO Gets Prison Time After Losing $35 Million of Company Money in Crypto Side Hustle
Nevin Shetty, a Washington man, was sentenced to two years in prison for diverting $35 million from his employer to a DeFi platform, leading to significant company losses and layoffs. After investments collapsed, he confessed and was subsequently fired.
Decrypt4h ago
Justin Sun Settles $10M Lawsuit With SEC, Ending Legal Dispute
Justin Sun and the U.S. SEC have settled a $10M lawsuit that began in March 2023, resolving claims of market manipulation in the Tron ecosystem. This settlement closes a lengthy legal battle, providing relief to the crypto sector and fostering improved relations between blockchain projects and regulators.
BlockChainReporter7h ago
Trump signs executive order to combat cybercrime, requiring multiple agencies to submit action plans within 120 days
U.S. President Trump signed an executive order on March 6th to combat cybercrime and fraud, requiring relevant ministers to review frameworks and develop action plans. The order establishes an action team to coordinate the fight against transnational cybercrime and proposes a victim recovery plan to compensate victims of online fraud. At the same time, it calls for negotiations with countries that tolerate such crimes and measures to restrict them.
GateNews10h ago
Hong Kong Sheung Wan Money Exchange Customer Robbed at Knifepoint, Police Arrest Suspect Through Early Deployment
Recently, a knife robbery occurred in Sheung Wan, Hong Kong. Two victims were robbed after exchanging approximately 10 million HKD at a currency exchange shop. The police successfully apprehended the suspect, and the victims did not suffer any property loss. This is the third major cash robbery in the area within three months. The police have begun investigating the connection between the cases and the background of the criminal group.
GateNews17h ago
Pan Gongsheng: Continue to intensify the crackdown on illegal financial activities such as virtual currency speculation, with a focus on financial risk containment
People's Bank of China Governor Pan Gongsheng stated at the National People's Congress that over the past year, financial risks have been orderly resolved, and the financial system has operated stably. In the future, efforts will continue to combat illegal financial activities, prevent financial risks, and closely monitor the impact of external shocks.
GateNews19h ago
U.S. Federal Court Dismisses Terrorism-Related Lawsuit Against a CEX and Its Founders
A U.S. judge dismissed a civil lawsuit accusing a certain exchange and its founders of colluding with a terrorist organization to carry out an attack. The plaintiff failed to prove that the defendants intentionally collaborated with terrorists. The judge criticized the complaint for being lengthy but allowed for amendments, and the exchange firmly denied the allegations.
GateNews20h ago
