Paying to Get Paid: How a Capital Swift Victim Got S$120,000 Back

Capital Swift kept asking Wei to pay one more fee to release his returns. The fees were the scam. Here is how S$120,000 found its way back.

Capital Swift presented as an established investment firm, complete with forged registration details. A Singapore engineer, Wei was told his portfolio had matured handsomely — he just needed to clear a “release bond,” then an “anti-money-laundering fee,” before withdrawing.

Each payment unlocked another demand. This advance-fee structure is designed to extract money from the hope of recovering money. By the time Wei stopped, he had sent S$120,000 in USDT and bank transfers.

We documented every payment, clustered the receiving wallets to a single operator, and identified the off-ramp and banking rails involved. With an attested freeze and coordinated recall requests, 83% of his funds were returned. We also flagged the forged registration to the relevant registry.