Losses from cryptocurrency-related scams grew in Singapore, where over S$32.6 million has been lost to investment fraud since January. Authorities say people are falling prey to such ruses as scammers look to break into digital wallets to siphon funds from them.

Jag Foo, Chair of the Blockchain Security and Compliance Committee, with the Global Fintech Institute, and Partner at digital assets solutions firm SafeHeron, Jag shares his perspectives on the evolving tactics used by scammers including the role of social engineering in scams, and offers insights on how investors and institutions can better protect themselves in an increasingly complex crypto landscape.