US, UK and Canada Launch Operation Atlantic Against Crypto Approval-Phishing Scams
The U.S. Secret Service says Operation Atlantic was launched with Canadian and U.K. agencies to disrupt crypto approval-phishing schemes and investment scams that use fake websites to steal assets.
U.S., U.K. and Canadian law enforcement agencies launched Operation Atlantic to disrupt crypto fraud schemes including approval-phishing attacks and investment scams conducted through signatures on fake websites. The new update identifies the U.S. Secret Service as a lead participant and says the multinational effort was announced on the 16th. Earlier reporting said the operation would focus on near-real-time disruption, warning potential victims, helping users secure compromised wallets and attempting to trace and recover stolen funds. The initiative builds on Project Atlas, which identified more than 2,000 compromised wallets across 14 countries, disrupted about $70 million in potential fraud and froze roughly $24 million in stolen crypto, as well as Operation Spincaster, which generated more than 7,000 investigative leads tied to about $162 million in losses.
- Approval phishing: A scam that tricks crypto users into approving malicious wallet access or token permissions, enabling attackers to drain assets.
- Wallet permissions: Authorizations granted through a crypto wallet that let an app or smart contract access or spend certain assets.
- Blockchain transactions: Transfers recorded on a blockchain network that are typically irreversible once confirmed.