International Law Enforcement Operation Disrupts Cryptocurrency Fraud Schemes

A major international law enforcement effort has made significant inroads in disrupting cryptocurrency-based fraud schemes.

Operation Atlantic, a joint operation involving agencies from the US, UK, and Canada, was aimed at identifying and contacting victims of approval phishing scams. These scams involve scammers sending fake pop-ups or alerts that appear to come from trusted apps or services, tricking victims into granting access to their cryptocurrency wallets.

Over the course of the operation, law enforcement identified and directly contacted more than 3,000 victims who may have lost or are at risk of losing crypto assets. Investigators also froze $12 million in fraudulent losses that were transferred out of victims' wallets by fraudsters.