Scam victims in Singapore lost $1.1 billion in 2024, marking a record high amount of losses suffered in a single year. Almost 25% of this involved cryptocurrency, a surge from 6.8% of total losses in 2023. Andrea Heng and Hairianto Diman speak to Jag Foo, Partner of Safeheron and Chair of the Blockchain Security and Compliance Committee at Global Fintech Institute. They look at the possible reasons for the rise in cases, and the crypto landscape that makes it a hotbed of scams.

See omnystudio.com/listener for privacy information.