Law enforcement agencies from the United States, United Kingdom, and Canada announced on Apr. 9 that Operation Atlantic has identified more than $45 million in cryptocurrency linked to global fraud schemes and successfully frozen $12 million in stolen funds. The week-long international campaign targeted "approval phishing" scams that trick victims into granting cybercriminals access to their cryptocurrency accounts.
Operation Atlantic was organized to address the growing threat of cryptocurrency fraud affecting individuals across more than 30 countries. By identifying and contacting victims who had unknowingly given criminals access to their digital wallets, investigators sought both to prevent further losses and recover stolen assets.
According to officials, investigators identified over 20,000 wallet addresses connected to fraud victims worldwide. Law enforcement directly contacted more than 3,000 affected individuals during the operation. Brent Daniels, Assistant Director for the U.S. Secret Service’s Office of Field Operations said: “Operation Atlantic demonstrated the importance and need for international collaboration to stop cryptocurrency fraud. Through this operation, investigators prevented millions of dollars in fraud losses and disrupted millions more in fraudulent transactions denying criminals the ability to prey on innocent victims. I am extremely proud of the hard work of everyone involved during this operation.”
The operation also disrupted over 120 web domains used by scammers globally. Miles Bonfield, Deputy Director of Investigations at the UK’s National Crime Agency said: “Operation Atlantic is a powerful example of what is possible when international agencies and private industry work side by side... This intensive action has led to the safeguarding of thousands of victims in the UK and overseas, stopped criminals in their tracks and helped save others from losing their funds.” Bonnie Lysyk, Executive Vice President for Enforcement at Ontario Securities Commission added: “The results from Operation Atlantic underscore the strong and ongoing commitment to capital markets enforcement and investor protection shared by the Ontario Securities Commission and our international partners.”
The collaborative effort included agencies such as Royal Canadian Mounted Police, City of London Police, U.S. Attorney’s Office for District of Columbia, UK Financial Conduct Authority as well as private industry partners.
Detective Superintendent Jennifer Spurrell with Ontario Provincial Police concluded: “Through Operation Atlantic, investigators were able to disrupt fraud in progress and freeze millions of dollars linked to approval phishing schemes... This operation demonstrates the real impact collaborative enforcement can have, reducing financial harm and helping individuals avoid the lasting financial consequences of fraud.”
Individuals who believe they may be victims are encouraged to visit official resources provided by participating agencies.
