Singapore police have arrested five individuals involved in a Worldcoin account and token trading investigation, according to Deputy Prime Minister Gan Kim Yong. The suspects allegedly recruited individuals to create Worldcoin accounts and exchange cash for control of these accounts and tokens, violating the Payment Services Act 2019. Three suspects were involved in recruitment, while two others managed asset transfers. The police seized over 200 mobile phones during the operation. Though the Monetary Authority of Singapore does not classify Worldcoin as a payment service, trading its accounts and tokens could constitute such activities, prompting this investigation.