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UK, US, Canada launch Operation Atlantic to fight crypto scams: Report

The US, UK, and Canada have launched Operation Atlantic, a joint initiative to combat crypto scams in real-time. Led by the US Secret Service, the UK's National Crime Agency, and Canadian authorities, the operation focuses on proactively detecting and preventing fraud, rather than just tracing stolen funds after the fact. The primary target is "approval phishing," where victims are tricked into signing malicious smart contracts that grant attackers access to their wallets. Authorities will collaborate with crypto exchanges and blockchain firms to monitor suspicious transactions and directly contact potential victims before funds are stolen. The operation also targets "pig butchering" scams, a long-term social engineering scheme. This initiative builds on previous efforts like Canada's Project Atlas. While Chainalysis reports scammers received around $14 billion in crypto in 2025, TRM Labs notes illicit activity still only represents about 1.2% of total market volume, indicating the legitimate crypto economy is growing faster. The operation highlights a shift toward cross-border, proactive law enforcement response to increasingly globalized crypto crime.

ambcryptoAyer 01:02