An international law enforcement initiative involving the UK’s National Crime Agency (NCA), the US Secret Service, the Ontario Provincial Police and the Ontario Securities Commission is disrupting crypto systems worldwide.
In a statement, blockchain intelligence platform TRM Labs said it served as a private partner in the phishing fight, with Operation Atlantic freezing more than $12 million in suspected illicit proceeds.
The initiative also identified over $45 million in fraud attempts worldwide and more than 20,000 victims in the UK, Canada and the US.
Operation Atlantic used blockchain analytics, information sharing, and victim outreach to identify and respond to approval phishing scams. This is a form of cryptocurrency fraud in which victims are tricked into signing blockchain transactions that give the fraudsters control of their wallet.
Traditional phishing involves stealing login credentials. In approval phishing, perpetrators trick their victims into giving them permission to access their wallets and steal money from them. Scammers often carry out these schemes through pig slaughter and investment scams, luring victims for weeks or months before redirecting them to a malicious website.
Says Miles Bonfield, NCA Deputy Director of Investigations,
“Operational Atlantic is a powerful example of what is possible when international agencies and the private sector work side by side. This intensive operation has protected thousands of victims in the UK and abroad, stopped criminals and helped prevent others from losing their funds.”
Keep following us X, Facebook And telegram
Don’t miss a thing – Subscribe to receive email alerts straight to your inbox
Surf the Daily Hodl Mix
 
Disclaimer: Opinions expressed on The Daily Hodl do not constitute investment advice. Investors should conduct their due diligence before making any risky investments in Bitcoin, cryptocurrencies or digital assets. Please note that your transfers and transactions are at your own risk and any losses you incur are your responsibility. The Daily Hodl does not recommend the purchase or sale of any assets, including cryptocurrencies, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl is involved in affiliate marketing.
Generated image: Midjourney
