SINGAPORE, June 12 -- Singapore police are investigating 49 individuals suspected of being involved in money laundering activities using cryptocurrency accounts, following a recent island-wide crackdown.

According to The Straits Times, the group, made up of 35 men and 14 women aged between 18 and 58, was rounded up during a series of operations conducted between May 13 and 30 by the Anti-Scam Command.

Officers were supported by digital payments platform StraitsX, which helped flag suspicious activity. Over S$200,000 (RM660,000) has been seized so far.

Preliminary findings suggest the suspects may have sold access to their cryptocurrency accounts or Singpass credentials for payments ranging from S$400 to S$3,000.

Contact was often init...