US, UK, and Canada Launch Joint "Operation Atlantic" to Combat Cryptocurrency Phishing Scams

CoinNetwork · 2026-03-16T15:52:19+00:00

Law enforcement agencies from the United States, United Kingdom, and Canada have jointly launched "Operation Atlantic" to combat "approval phishing" scams targeting cryptocurrency users. These scams involve fraudsters using fake applications to trick users into granting authorization, resulting in stolen assets. Cryptocurrency fraud is projected to cause approximately $17 billion in losses. The operation aims to identify victims, warn potential victims, and track stolen assets.

CoinNetwork

2026-03-16 15:52:19

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Crypto World News: Law enforcement agencies in the United States, the United Kingdom, and Canada have jointly launched a cross-border operation called “Operation Atlantic” to combat approval-phishing scams targeting crypto users. The Ontario Securities Commission stated that these scams often disguise themselves as trusted apps or services through pop-ups and prompts, tricking users into granting malicious wallet permissions. Once authorized, attackers can control the wallet and transfer assets. Data shows that crypto scams generated at least $14 billion in on-chain illegal revenue in 2025. As more involved wallets are identified, the total scale may approach $17 billion. Authorities noted that current scams increasingly rely on social engineering, AI-generated content, and “Phishing-as-a-Service” platforms. This coordinated effort aims to identify victim wallets, alert potential victims in a timely manner, and attempt to trace and freeze stolen crypto assets to reduce criminals’ profit opportunities.

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