Singapore Police Received 631 Cryptocurrency Scam Reports in 2021, Government Says

[AJBot]

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 questi ...

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[Lynaia]

This is the main reasons I've stopped doing anything relating to crypto investment on any website. There are so many fake crypto investment platform now

 

[Sotherefore]

This is another reason why so many countries are trying to ban cryptocurrency because some of the fraudulent activities that is occurring in the blockchain technology can't easily be Trace. That's just what the police have been able to receive. What of others that has not been reported to the police.

 

[glitch]

This is just another example of why people are backing away from crypto. I have paused my interests. Between the scams and the governments cracking down on it, I just don't want to take any risks.

 

[Sincerem]

The decentralized nature in cryptocurrency makes a secret way of dealing and transacting with people without leaving any traces. That is why a lot of criminal activities are always associated with the blockchain technology.

 

[Skysaint]

Scamming in the cryptocurrency market is not a new thing actually because we see the news on day to day basis and it is very difficult to trace as the whole thing is made to be anonymous.