Written Reply to Parliamentary Question on Crimes Related to Cryptocurrencies Over the Past Three Years, By Mr K Shanmugam, Minister for Home Affairs and Minister for Law

Question:

Mr Murali Pillai: To ask the Minister for Home Affairs (a) how many complaints of cheating, fraud or other crime in connection with investments in cryptocurrencies have been lodged with the police in the past three years; and (b) what is the total amount of loss suffered by the victims of such crime in the same period.

Answer:

1.       Between 2018 and 2020, the Police received 533 reports of cheating, fraud or other crime in connection with investments in cryptocurrencies. Around $29 million was lost to such cases between 2018 and 2020.