Singapore company gets hacked for $36 million, half converted into stablecoins and dispersed to run away, but still intercepted $20 million—Is on-chain tracing now this powerful?

Hong Kong Police Force and police from 9 regions carried out cross-border anti-fraud operations through frontier+ from 3/10 to 5/7, arresting 3,018 people, involving over 138,000 cases, with losses of $752 million, freezing 101,989 accounts, and intercepting $161 million in scam funds. The largest case was the "ride-hailing" scam in April, where a Singaporean company was defrauded of $36 million, about half of which was converted into stablecoins and dispersed into multiple wallets, with $20 million already intercepted.