Headline: Global law enforcement launches “Operation Atlantic” to tackle rising approval‑phishing crypto scams
The U.S. Secret Service has announced an international crackdown on crypto scams this week with the launch of “Operation Atlantic,” a coordinated effort by law enforcement agencies in the United States, United Kingdom and Canada. The initiative targets a growing fraud vector known as “approval phishing” (or “authorization abuse”), in which victims are tricked into signing off on malicious transactions or granting attackers permission to drain digital wallets.
What Operation Atlantic aims to do
- Disrupt organized fraud networks that exploit crypto investors.
- Help victims secure wallets and prevent further losses.
- Recover stolen funds where possible.
- Raise public awareness about the mechanics and risk of crypto investment scams.
Who’s involved
Operation Atlantic is co-hosted by the U.S. Secret Service alongside the U.K.’s National Crime Agency (NCA), the Ontario Provincial Police (OPP) and the Ontario Securities Commission (OSC). Additional participants include the Royal Canadian Mounted Police (RCMP), City of London Police, the U.S. Attorney’s Office for the District of Columbia, and the U.K.’s Financial Conduct Authority (FCA).
Why approval‑phishing is a priority
Approval‑phishing schemes don’t necessarily steal private keys; instead they manipulate victims into approving malicious smart-contract permissions or signing transactions that transfer tokens. That “authorization abuse” allows attackers to move assets out of wallets with the user’s unwitting consent—making it harder for victims to spot or reverse the theft.
Context: progress and persistence
Data from Scam Sniffer shows reported losses from crypto phishing fell sharply in 2025—an 83% drop to roughly $84 million from nearly $494 million the previous year—indicating some progress. However, agencies warn that scams are becoming more sophisticated, and cross‑border criminal operations require equally coordinated responses.
Agency perspectives
Paul Foster, Deputy Director of Cyber at the NCA, said Operation Atlantic will give the public early warnings and help people secure their assets while strengthening international partnerships—“as criminals operate across borders, our responses must also adapt,” he noted.
The operation builds on the 2024 Canadian‑led Project Atlas, hosted by the OPP with U.S. Secret Service participation, which targeted international crypto investment fraud networks. Jennifer Spurrell, Detective Superintendent and Director of the Financial Crimes Services Bureau at the OPP, highlighted Project Atlas’s success and said Operation Atlantic expands that model, enabling partners to act in real time against evolving fraud.
What this means for crypto users
Operation Atlantic represents a stepped‑up, multinational effort to both disrupt fraud rings and assist victims. For users, it underscores the need for basic safeguards: be wary of unsolicited links, carefully review wallet approvals, limit token allowances, and consider hardware wallets or tools that revoke risky permissions.
As enforcement groups pool intelligence and resources, crypto investors may see faster takedowns of scams and improved assistance—though the industry will still need ongoing vigilance as attackers change tactics.
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