Authorities Freeze $12M in Cryptocurrency Proceeds from Phishing Schemes

On March 31, a coordinated enforcement operation was conducted by law enforcement agencies from the United States, the United Kingdom, and Canada to combat cryptocurrency phishing scams.

The operation, known as Operation Atlantic, aimed at tackling approval phishing schemes that have been increasingly used by scammers to deceive victims. These schemes work by tricking users into signing wallet permissions that grant attackers control over specific tokens.

As a result of the operation, authorities were able to freeze over $12 million in cryptocurrency proceeds linked to these schemes. Investigators identified over 20,000 victim wallet addresses across more than 30 countries.