Operation Atlantic freezes $12M, uncovers $45M crypto scam

Operation Atlantic froze $12M in crypto scam proceeds, traced $45M in fraud, and identified 20,000+ victims. The UK, US, and Canada targeted approval phishing scams.

Operation Atlantic, a joint initiative by law enforcement agencies from the UK, US, and Canada, targeted approval phishing scams in the cryptocurrency sector. Led by the UK's National Crime Agency and supported by the US Secret Service and Ontario authorities, the week-long operation resulted in the freezing of over $12 million in suspected scam proceeds. Investigators identified more than 20,000 victims across 30 countries and traced a total of $45 million linked to fraudulent activities. Leading crypto companies, including Binance and Coinbase, assisted by identifying scam accounts and providing fraud intelligence, though no funds were frozen on Binance itself. The operation focused on disrupting approval phishing scams, where victims are tricked into signing malicious authorizations that allow scammers to drain their wallets. The collaborative effort aimed to trace stolen funds, identify victims, and dismantle the infrastructure behind these scams.