UK, US, Canada Freeze $12 Million in Crypto Scam Proceeds in Operation Atlantic

Authorities in the US, UK and Canada launched Operation Atlantic that froze more than $12 million in suspected criminal proceeds.

“Authorities in the United States, United Kingdom and Canada have frozen millions of dollars tied to crypto scams in a joint enforcement operation called Operation Atlantic”

Cointelegraph

The operation focused on approval phishing attacks where victims unknowingly authorize malicious transactions.

Cointelegraph

Operation Atlantic identified more than 20,000 victims and secured more than $12 million in suspected proceeds.

It also identified more than $45 million stolen in cryptocurrency fraud schemes.

The operation involved assistance from Binance, which said no funds were frozen on its accounts.

Approval phishing scams trick users into signing malicious permissions that allow attackers to access and drain crypto wallets.

Scammers send a fake pop up that appears to come from a trusted app, asking victims to approve access.

Cryptonews.net

Criminals then gain full control of the user's crypto wallet, allowing them to transfer funds.

Once money leaves the victim's account, transactions can't be reversed.

Operation Atlantic identified and directly contacted more than 3,000 victims and disrupted over 120 web domains.

Operation Atlantic was coordinated by the UK's NCA, the US Secret Service, the Ontario Provincial Police and the OSC.

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MLex

Additional agencies included the RCMP, City of London Police, US Attorney's Office and UK's FCA.

The operation included on-site investigations at the NCA's London headquarters.

The OSC's Bonnie Lysyk said the results underscore strong commitment to enforcement.

Detective Superintendent Jennifer Spurrell said the operation demonstrates the real impact collaborative enforcement can have.