The US Joins UK, Canada in Major Operation Against Crypto Fraudsters

On March 16th, multiple law enforcement agencies — including the U.S. Secret Service, the UK’s National Crime Agency (NCA), and Canada’s Ontario Provincial Police (OPP) — announced a joint international operation codenamed "Operation Atlantic." The operation targets organized cryptocurrency fraud schemes, focusing on identifying and assisting victims of asset loss or risk tied to "approval phishing" tactics. "Approval phishing" is often linked to so-called "piggybacking" investment scams, where criminals trick victims into granting full access to their cryptocurrency wallets to siphon funds. Additional participating agencies include the Royal Canadian Mounted Police (RCMP), London’s City Police, the U.S. Attorney’s Office for the District of Columbia, and the UK Financial Conduct Authority (FCA), with support from private-sector partners. Building on the success of 2024’s "Project Atlas," the operation aims to proactively block fraudulent activity in real time through cross-border collaboration.