A major crackdown on cryptocurrency and investment scammers has yielded significant results, with authorities freezing over $12 million in assets and identifying more than 20,000 victims.
The operation, led by the National Crime Agency (NCA), targeted individuals who had fallen victim to approval phishing scams. These scams tricked victims into granting access to their cryptocurrency wallets, often under the guise of legitimate investment opportunities.
The effort also highlighted the continued reliance on digital assets in financial fraud schemes, with cryptocurrency losses totaling $11.3 billion worldwide.
According to a report from the FBI, investment scams involving cryptocurrency accounted for a significant portion of this total, reflecting the ongoing threat posed by these types of scams.