Singapore Warns of Crypto Job Scams Costing $11.8M

Singapore authorities have issued a joint advisory warning of a sophisticated cryptocurrency scam that has resulted in approximately US$11.8 million in losses, with attackers using fake job offers to compromise corporate systems. The Singapore Police Force and the Cyber Security Agency of Singapore detailed the operation on August 14, 2026, describing a method that targets employees within crypto-related firms rather than individual retail investors.

The scam typically begins on professional networking platforms like LinkedIn, where victims are contacted by individuals posing as recruiters for legitimate cryptocurrency companies. The process moves to email, where the supposed recruiter uses a spoofed domain closely resembling a real firm's address. Victims then participate in several video interviews via Google Meet, during which the interviewer keeps their camera switched off.

The critical phase involves a technical coding assessment. Candidates are directed to a spoofed website and asked to complete the assessment on a company-issued device. Unbeknownst to the victim, downloading the assessment files installs malware that harvests a session token. This token, which represents...