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Singapore police have launched an investigation into seven individuals suspected of providing Worldcoin accounts and token trading services. Authorities have arrested five people, including three men accused of recruiting individuals to create Worldcoin accounts on behalf of multiple entities. This investigation, revealed by Deputy Prime Minister Gan Kim Yong, is part of a crackdown on illegal crypto activities and may involve violations of the 2019 Payment Services Act. The Monetary Authority of Singapore has noted potential risks such as money laundering and terrorism financing associated with these illegal sales.
⚠️ Singapore authorities arrest six individuals, including five Chinese nationals, linked to a global #cybercrime syndicate. Laptops, phones, cash & over $850,000 in #cryptocurrency seized—showing the scale of the operation. Learn more: https://t.co/FoAeU0YhBV #cybersecurity
Singapore is investigating seven "subjects" for offering services of buying or selling of @Worldcoin accounts and tokens which is an offence, a government reply in parliament revealed on Tuesday. By @amitoj. https://t.co/NBtdRXxNSM
#Singapore's Parliament Addresses #Worldcoin Account Misuse and Privacy Risks https://t.co/Svsy6XhXlF
