According to Lianhe Zaobao, the Singapore Police Force issued a statement on March 8th stating that there has been an increase in cryptocurrency-related scams in 2025, with related losses amounting to approximately 182.2 million SGD. The main types include investment scams and impersonation of government officials. The police stated that scammers usually lure victims to open crypto accounts and purchase cryptocurrencies, then request the assets to be transferred to their controlled wallets or to disclose seed phrases. Since crypto transfers are difficult to reverse, once transferred, they are often hard to recover.