Operation Atlantic targets global crypto fraud

US, UK, and Canadian agencies launch Operation Atlantic to fight approval-phishing crypto scams, assist victims, trace stolen funds, and warn the public as global crypto fraud losses rise.

Authorities from the United States, United Kingdom, and Canada have launched Operation Atlantic, a joint initiative targeting cryptocurrency fraud, especially approval-phishing scams. These scams deceive users into granting malicious wallet permissions via fake alerts or pop-ups that mimic trusted apps, enabling criminals to transfer funds through irreversible blockchain transactions. Operation Atlantic involves agencies such as the U.S. Secret Service, the UK’s National Crime Agency, and Canadian law enforcement. Their efforts include contacting victims and potential victims, offering advice on securing digital assets, and working to trace and seize stolen funds. Building on previous efforts like Project Atlas, the operation aims to disrupt scam infrastructure, warn the public about risky investment offers, and enhance wallet security. With crypto scams generating at least $14 billion in 2025 and losses expected to rise, the initiative underscores the urgent need for real-time, cross-border enforcement against increasingly sophisticated crypto fraud.