The Singaporean government has revealed the number of reports related to cryptocurrency scams the police received in the past three years.

In a written reply to a parliamentary question about crypto scams in Singapore, published last week, Minister for Home Affairs and Minister for Law K. Shanmugam wrote:“In 2019, the police received 125 reports related to cryptocurrency scams. This increased to 397 in 2020, and 631 in 2021.”