International Operation Targets Multimillion-Dollar Crypto Theft Schemes, Freezes $12 Million in Assets
An international law enforcement operation, involving agencies from the United States, the United Kingdom, and Canada, has targeted sophisticated cryptocurrency theft schemes. Known as Operation Atlantic, the initiative identified over $45 million in stolen funds and successfully froze approximately $12 million in assets, which will be returned to the victims. The operation focused on a form of phishing known as 'approval phishing,' commonly used in 'pig butchering' investment scams. These scams involve criminals tricking victims into granting full administrative access to their cryptocurrency wallets through fraudulent web domains and deceptive notifications that mimic legitimate services. Once access is granted, the scammers drain the accounts. Authorities identified more than 20,000 compromised wallet addresses across 30 countries and directly contacted over 3,000 individuals to warn them of active threats. Additionally, more than 120 fraudulent web domains used in these scams were taken offline. 
