Ms Tuhina Singh, the CEO of digital securities firm Propine, was initially identified on Tuesday (May 5) as the woman who made headlines for claiming to be a "sovereign".
The woman was later identified as Paramjeet Kaur, a 40-year-old who has been charged with breaching safe distancing regulations and being a public nuisance.
The physiotherapist was caught on video on Sunday at Shunfu Mart refusing to put on a mask and claiming she is a "sovereign" who is not subject to laws here.
The videos went viral, and she was arrested. She has been remanded at the Institute of Mental Health to be assessed.
Between her arrest on Monday night and her being charged on Tuesday afternoon, doxxers wrongly identified Ms Singh as the woman involved.
They posted her personal details online, including her photos and names of her colleagues, prompting a string of racist and xenophobic comments against her.
Calling it a case of mistaken identity, Propine said in a statement on its LinkedIn page on Wednesday: "It has come to our attention that there has been misinformation spreading across the social media about our CEO, Ms Tuhina Singh, being confused as the Singaporean woman who was recently arrested for flouting Covid-19 mask rule and claimed to be 'sovereign'.
"We are glad the matter is resolved. The real lady has been identified and appropriate action taken by authorities."
Ms Singh was also quoted in the statement as thanking those who stood up for her.
"I want to thank all well-wishers who reached out and stood up for us," she said.
"Thank you for helping spread the right message. We felt deeply loved and cared for."