Man Arrested at Woodlands Checkpoint Following Alleged Cryptocurrency Scam
In a significant development, a 23-year-old man has been apprehended by the police at the Woodlands Checkpoint, suspected of being involved in a fraudulent scheme that has reportedly seen a woman lose over S$1.3 million in just one month. The police’s swift action came after a bank raised concerns about a potential scam on June 20, 2025.
Woman’s Attempt to Withdraw Large Sum Raises Alarm
The incident unfolded when the woman attempted to withdraw a substantial amount of money from her bank. The transaction was halted, prompting the bank to alert the authorities. Upon investigation, police located the woman and discovered that she was likely a victim of a cryptocurrency investment scam. Preliminary inquiries revealed that she had already withdrawn more than S$300,000 from another bank branch prior to the police’s intervention. It is alleged that she handed over this money to the suspect in exchange for cryptocurrencies.
The investigation indicates that since May 2025, the woman has transferred more than S$1.3 million to the man, believing she was making a sound investment. This case highlights the growing concerns surrounding cryptocurrency scams, which have become increasingly prevalent in recent years.
Arrest Made Before Suspect Could Leave Singapore
The police were able to identify the suspect, and he was arrested at the Woodlands Checkpoint just as he was about to leave Singapore. This arrest coincided with the day the woman attempted her withdrawal, showcasing the police’s proactive approach in tackling financial crimes. During the arrest, officers seized a bank card belonging to another individual and two mobile phones, which are now considered evidence in the ongoing investigation.
The man has been charged under the Computer Misuse Act 1993 for unauthorised access to computer material. This serious offence carries significant penalties, including a fine of up to S$5,000 or a jail term of up to two years for first-time offenders. Repeat offenders face even harsher consequences, with fines reaching S$10,000 and potential imprisonment of up to three years.
Ongoing Investigations and Public Appeal
As investigations into the cheating case continue, the police have urged anyone with information related to such scams to come forward. They can contact the police hotline at 1800-255-0000 or submit a report online at www.police.gov.sg/i-witness. The authorities assure that all information will be treated with the utmost confidentiality. For those requiring immediate police assistance, the emergency number is “999”.
This incident serves as a stark reminder of the risks associated with cryptocurrency investments and the importance of vigilance when dealing with financial transactions. As scams become more sophisticated, it is crucial for individuals to remain informed and cautious to protect themselves from potential fraud.