US, UK, and Canada Launch Joint Operation to Disrupt Crypto Fraud

Law enforcement agencies from the US, UK, and Canada, including the US Secret Service, UK National Crime Agency, and Canadian authorities, have initiated a joint effort named "Operation Atlantic." This operation specifically targets fraudulent schemes involving cryptocurrencies, particularly "approval phishing," where victims are tricked into signing malicious transactions that allow scammers to drain their wallets. The goal is to identify and disrupt these scams in near real-time, raise public awareness, and recover stolen funds. Operation Atlantic builds upon the Ontario Securities Commission's previous Project Atlas and involves collaboration with various other agencies, such as the Royal Canadian Mounted Police and the UK's Financial Conduct Authority (FCA). Approval phishing scams have been highly costly, with blockchain analytics firm Chainalysis reporting $2.7 billion stolen between May 2021 and July 2024 through such methods.

(Source：Cointelegraph)