Police, crypto firms and foreign law agencies foil over $17.4m in potential scam losses
Police conducted a two-month operation from September 1 to October 31 to disrupt scam attempts. The effort prevented potential losses exceeding $17.4 million and affected about 383 victims. Authorities worked with various digital payment token service providers and foreign law enforcement agencies. Partners included the FBI, the Canadian Anti-Fraud Centre, and the New South Wales Police Force. Digital payment providers such as Coinbase, OKX, and Upbit also assisted in the operation.
The police have disrupted scam attempts involving some 383 victims during a two-month-long operation which ended on Oct 31, preventing potential losses of over $17.4 million.In a news release on Thursday (Nov 5) evening, the police said they partnered with digital payment token (DPT) service providers and foreign law enforcement agencies, for the operation which began on Sept 1.The DPT service providers included Coinbase, Coinhako, DTCPay, Gemini, Independent Reserve, OKX, StraitsX and Upbit, while the foreign law enforcement partners included the United States Federal Bureau of Investigation, the Australia’s New South Wales Police Force and the Canadian Anti-Fraud Centre.Led by the police's Cyber Command, advanced blockchain analysis was conducted using tools from Chainalysis and TRM Labs to identify victims across multiple scam typologies, including government officials impersonation, investment and job scams.