Singapore's Minister of State for Home Affairs, Sun Xueling, issued a warning to the public regarding the dangers of cryptocurrencies, highlighting that fraud cases related to this sector accounted for nearly 25% of all fraud cases in 2024. This includes various scams such as phishing websites, pump-and-dump schemes, and Memecoin scams. In response to the rising incidents of cryptocurrency fraud, Singapore is contemplating stricter penalties, which may include fines, imprisonment, and even caning for offenders. Concurrently, Hong Kong is facing its own challenges with scams, as a fake account impersonating the Chief Executive was used to promote a fraudulent national coin on the Solana blockchain. Authorities in Hong Kong have condemned this act and are taking measures to address the issue, emphasizing the need for vigilance against such scams, which are becoming increasingly sophisticated, including the use of deepfake technology.