ChainCatcher reported that, according to Lianhe Zaobao, a woman is suspected of falling victim to a cryptocurrency investment scam, successively transferring over 1.3 million Singapore dollars (approximately 1.01 million USD) to a 23-year-old man since May. After receiving the report, Singapore police launched an investigation and arrested the man at the Woodlands Checkpoint on June 20 when he attempted to leave the country.
The police stated that a bank reported the incident to the authorities when the woman tried to withdraw a large sum of money, as bank staff suspected she was being scammed. Police subsequently located the woman to understand the situation, and preliminary investigations revealed that she had withdrawn over 300,000 Singapore dollars from a bank branch and handed it to the man in exchange for cryptocurrency.
