The United States, United Kingdom and Canada have launched a joint crackdown on crypto fraud through “Operation Atlantic,” targeting phishing scams and stolen digital assets.
The initiative brings together agencies including the US Secret Service, UK National Crime Agency and Canadian regulators to identify victims and disrupt scams in near real time.
“Approval phishing and investment scams cost victims millions in financial loss each year,”
Said Brent Daniels of the US Secret Service.
Authorities said the operation focuses on “approval phishing” schemes, where users are tricked into signing malicious blockchain transactions that grant attackers access to their wallets.
The effort builds on earlier initiatives such as Project Atlas and will involve additional agencies including the Financial Conduct Authority and Royal Canadian Mounted Police.
Data from Chainalysis shows approval phishing scams have resulted in roughly $2.7 billion in losses between 2021 and 2024, highlighting the scale of the threat.
While phishing attacks rose sharply in February, total crypto-related losses fell to $49 million from $385 million in January, suggesting enforcement efforts may be gaining traction.