Singapore Police Warn of Cryptocurrency Account Breaches via Compromised Emails

The Singapore Police have issued an advisory warning individuals who trade in cryptocurrency to stay alert to data breaches and review their email security regularly.

This follows a rise in cryptocurrency accounts being compromised since mid-August, with investigations revealing that several affected email accounts had previously appeared in data breaches on other platforms, exposing victims' credentials.

The police believe scammers may have exploited this by using the compromised email credentials to access victims' cryptocurrency accounts, taking advantage of those who reused the same passwords across multiple online services.