According to Lianhe Zaobao, a woman suspected of being involved in a cryptocurrency investment fraud has handed over 1.3 million Singapore dollars (about 1.01 million US dollars) to a 23-year-old man since May. After receiving the notification, the Singapore police quickly launched an investigation and arrested the man at the Wulan checkpoint on June 20th before he attempted to leave the country. The police have issued a statement stating that authorities have received a notification from a bank that a woman was stopped by bank staff while attempting to withdraw a large amount of money, suspecting that she may have been involved in a scam. The police subsequently successfully found the woman to understand the situation and discovered that she may be a victim of a cryptocurrency investment scam. Preliminary investigation shows that before police intervention, she had withdrawn over SGD 300000 from another bank branch and handed the money over to the man in exchange for cryptocurrency. The police said that the woman has handed over more than SGD 1.3 million to the man since May 2025.