"Operation Atlantic is a joint initiative led by the US Secret Service, the UK National Crime Agency, the Ontario Provincial Police, and the Ontario Securities Commission, working with private-sector partners, to identify and contact potential victims and help them recover stolen funds."
"In these so-called 'pig butchering' scams, victims unknowingly give criminals full access to their cryptocurrency accounts, typically after receiving a fake notification that appears to come from a legitimate app or service, asking the user to approve access."
"This effort demonstrates the 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."
"The feds received 181,565 cryptocurrency complaints last year - a 21 percent increase from the year prior - and said people suffered $1.366 billion in losses from these types of scams, which is up 22 percent from 2024."
Operation Atlantic, a joint initiative by US, UK, and Canadian law enforcement, disrupted a $45 million cryptocurrency scam. The operation froze $12 million in stolen funds and identified over 20,000 wallet addresses linked to victims. An additional $33 million related to investment fraud schemes is under investigation. More than 3,000 victims were contacted, and funds were returned. The operation highlights the importance of international collaboration in combating cryptocurrency fraud, as cybercrime losses in the US reached a record $20.87 billion in 2025.
Read at Theregister
Unable to calculate read time
Collection
[
|
...
]