Singapore Police Force: Tether, BTC, and ETH are the three cryptocurrencies with the highest fraud losses in the first half of the year

The Singapore Police Force released fraud and cybercrime data for the first half of 2025, revealing new trends in scams involving cryptocurrency. Cryptocurrency accounts for 17.9% of total losses in fraud cases. The three currencies with the highest losses were Tether (approximately 46.8 million Singapore dollars), Bitcoin (approximately 20 million Singapore dollars), and Ethereum (approximately 7.6 million Singapore dollars), accounting for a combined 91.2% of cryptocurrency losses. The majority of cryptocurrency victims were aged 30 to 49. The most common scams involved job hunting, investment, and impersonating government officials. Most victims were tricked into opening cryptocurrency accounts, while others were deceived into clicking on phishing links or being tricked into revealing their seed phrases. (Lianhe Zaobao)