The government of Singapore has revealed the number of crypto scams reported to the police in the past three years. “The vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singapore can do,” said Singapore’s minister for home affairs.
Singapore Government’s Data on Cryptocurrency Scams
The Singaporean government has revealed the number of reports related to cryptocurrency scams the police received in the past three years.
In a written reply to a parliamentary question about crypto scams in Singapore, published last week, Minister for Home Affairs and Minister for Law K. Shanmugam wrote:
In 2019, the police received 125 reports related to cryptocurrency scams. This increased to 397 in 2020, and 631 in 2021.
“The vast majority of cryptocurrency scams are perpetrated by scammers based outside Singapore. As such, there is a limit to how much law enforcement agencies in Singap
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