The United States Secret Service announced that Operation Atlantic, a multinational campaign targeting approval-phishing scams, uncovered more than $45 million in cryptocurrency fraud, froze over $12 million in suspected criminal proceeds, and directly contacted more than 3,000 victims.
The operation included investigative support from major cryptocurrency exchanges, including Binance and Coinbase.
According to the Secret Service, Operation Atlantic focused on combating approval phishing, a tactic that tricks individuals into granting criminals access to their crypto wallets through fraudulent websites, apps, emails, or pop-ups designed to appear legitimate.
The campaign was co-led by the UK National Crime Agency, the U.S. Secret Service, the Ontario Provincial Police, and the Ontario Securities Commission, reflecting a coordinated public-private effort across multiple jurisdictions.
Authorities identified more than $45 million in cryptocurrency linked to fraud schemes worldwide and froze over $12 million in suspected illicit proceeds. Investigators also identified more than 20,000 victims across the United States, the United Kingdom, and Canada. According to the Secret Service, more than 3,000 individuals were directly contacted after being determined to have lost—or be at risk of losing—digital assets.
Binance’s Special Investigations team participated onsite in London during the week-long operation, providing live screening workflows, proactive scam intelligence, and actionable leads on suspected bad actors and fraudulent websites still targeting victims. The company stated that none of the frozen or seized assets were held on its platform, emphasizing its role as an investigative partner rather than a custodian of recovered funds.
Binance’s involvement reflects broader support for law enforcement efforts. The company reported handling more than 71,000 law enforcement requests in 2025 and assisting in the confiscation of more than $131 million in illicit funds. Globe Banner described Binance’s contribution to Operation Atlantic as including live victim-screening support, scam intelligence sharing, and assistance in identifying fraudulent websites actively targeting users.
Founded in 1865 to combat counterfeit currency, the U.S. Secret Service has since expanded its mission to include both the protection of national leaders and the investigation of crimes targeting the financial system. Today, the agency plays a key role in addressing cyber-enabled fraud and other forms of transnational financial crime.
