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A Singapore woman lost her life savings of $120,000 to a romance scammer who convinced her to transfer money into cryptocurrency wallets, with police intervening just one day before she planned to fly overseas to meet him.
The 39-year-old single mother had withdrawn her two children from school and prepared to relocate abroad when Singapore’s Anti-Scam Command contacted her, according to authorities. Blockchain analysis later revealed her funds had been laundered through multiple wallets connected to an international scam network.
The romance crypto scam nearly took a darker turn. Assistant Superintendent of Police (ASP) Lee Hua Sheng from Singapore’s Anti-Scam Command (ASC) Crypto Tracing Team (CTT) said he intervened just one day before the woman planned to fly overseas with her two children.
ASP Lee described how close the victim came to disaster: ‘When we contacted her, she admitted she couldn’t reach her ‘lover.’ If she had boarded that flight, she would’ve been stranded in a foreign country, penniless with two children.’
Authorities confirmed that the woman had already withdrawn her children from school and packed her belongings to start a new life with the scammer — a classic hallmark of a romance crypto scam blending emotional and financial manipulation.
Using blockchain analysis tools, ASP Lee traced the woman’s $120,000 through multiple cryptocurrency wallets connected to other ongoing scams. The funds were laundered across several addresses within hours of leaving her wallet, according to police.
“After the funds left her wallet, they were laundered through a chain of crypto addresses tied to other ongoing scams,” Lee said. “Presenting the findings to her was heartbreaking. When she realized the truth, she broke down in tears.”
The romance crypto scam investigation revealed how scammers exploit victims’ lack of cryptocurrency knowledge to move funds quickly and anonymously across digital platforms.
The Crypto Tracing Team (CTT), established just eight months ago, was formed to fight the surge in digital asset-related scams. Singaporeans lost an estimated $1.1 billion to scammers in 2024, according to the Singapore Police Force’s annual crime statistics report, with nearly 25% of those losses involving cryptocurrencies.
ASP Desmond Chia, head of the CTT, noted, “Globally, more people are embracing cryptocurrency — and scammers are adapting just as fast. Digital assets have given them new tools to move stolen money swiftly without traditional banking oversight.”
He added that in the first half of 2025 alone, over $81.6 million in crypto-related scams had been recorded, with Bitcoin and Ethereum among the most exploited digital assets.
Experts warn that romance crypto scams thrive on a dangerous combination of loneliness and financial naivety. Victims are emotionally manipulated before being coaxed into investing in fake crypto ventures or transferring money directly to scammers’ wallets.
Dr. Michael Tan, cybersecurity researcher at Singapore Institute of Technology who specializes in digital fraud, said, “These scams are no longer just about love — they’re about sophisticated financial fraud. Scammers are now using blockchain technology to conceal their tracks while emotionally preying on victims.”
He added that the emotional trauma of such scams can be long-lasting, noting that many victims, like the Singapore woman, often lose both their money and trust in others.
To curb the growing romance crypto scam epidemic, Singaporean authorities have rolled out stricter monitoring systems to trace suspicious wallet activity and freeze stolen assets faster.
ASP Lee confirmed, “Our officers are trained to identify scam wallet patterns in real-time. We’re working with global exchanges to recover victims’ funds whenever possible.”
Authorities also urge the public to verify online relationships and avoid transferring funds to individuals they have never met in person.
The tragic romance crypto scam that cost a Singapore woman $120,000 serves as a stark reminder that love and money rarely mix safely online.
With digital scams becoming increasingly sophisticated, authorities continue to warn that romance crypto scams are not just emotional traps — they’re financial weapons of deception.
