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Binance Joins Operation Atlantic to Tackle Crypto and Investment Fraud

Binance Joins Operation Atlantic to Tackle Crypto and Investment Fraud

According to the latest update, U.S., U.K. and Canadian authorities traced more than $45 million in stolen cryptocurrency, froze $12 million for restitution, and linked over 20,000 wallets across more than 30 countries.

Fact Check
The central numerical claims are directly supported by both official government sources: the U.S. Secret Service page 'Operation Atlantic disrupts more than $45 million in cryptocurrency fraud, freezes $12 million in stolen funds' and the UK NCA page 'Fraudsters targeting cryptocurrency stopped and $12 million frozen in NCA-led Operation Atlantic'. Both state that more than 20,000 victims were identified, more than $12 million was frozen, and more than $45 million in crypto fraud was identified/linked to the schemes. The NCA source explicitly says the victims were across the UK, Canada and the United States. The Secret Service source explains that the operation focused on approval phishing and says the $45 million consisted of $12 million frozen plus an additional $33 million believed linked to investment fraud schemes. Binance’s participation is not stated in the two official government pages I fetched, but it is corroborated by the validated secondary reports 'UK-led Operation Atlantic freezes $12 million in crypto scam funds' and 'UK-led Operation Atlantic freezes $12M in crypto scam proceeds', both of which say Binance provided investigative/intelligence assistance and that no funds were frozen on Binance. Because Binance’s own blog URL could not be fetched successfully in this run, that specific part rests on high-quality secondary corroboration rather than a validated primary Binance statement.
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Summary

Operation Atlantic, a cross-border enforcement effort involving authorities in the U.S., U.K. and Canada, has now been linked to more than $45 million in cryptocurrency stolen through fraud. The latest update says officials froze $12 million for victim restitution and connected more than 20,000 wallets across over 30 countries. Earlier reporting on the operation also said investigators disrupted more than 120 scam websites, flagged $33 million tied to suspected investment fraud, and received support from Binance through onchain intelligence and account screening.

Terms & Concepts
  • Onchain intelligence: Investigative analysis of blockchain transaction data used to trace wallet activity, fund flows, and links between suspected illicit addresses.
  • Account screening: A compliance and risk review process used to identify accounts that may be connected to fraud, sanctions issues, or other suspicious activity.