The post UK, US, Canada launch Operation Atlantic to fight crypto scams: Report appeared on BitcoinEthereumNews.com.

For years, crypto fraud was linked to hackers stealing funds that seemed to vanish on the blockchain. Now, that perception is changing. Three countries have joined forces to stop scams in real time. Called Operation Atlantic, the initiative brings together the U.S. Secret Service, the UK’s National Crime Agency (NCA), and Canadian authorities. Instead of only tracing stolen funds after a crime, the operation aims to detect and prevent scams before money is taken. Main focus of Operation Atlantic The main target is “approval phishing.” In this scam, victims are tricked into signing a transaction that quietly permits attackers to access their crypto wallets. By working with private blockchain firms and analyzing real-time data, investigators are now trying to spot risky wallet activity. This marks a shift from reactive investigations to proactive prevention. Stressing the seriousness of the situation, Brent Daniels, Deputy Assistant Director for the U.S. Secret Service’s Office of Field Operations, said,  Approval phishing and investment scams cost victims millions in financial loss each year. In response to the rising threat of such crimes, Paul Foster, Deputy Director of Cyber at the UK’s National Crime Agency, added,  Criminals operate across borders, so our response must do the same. What will the investigators do? In this effort, authorities will work closely with crypto exchanges and Virtual Asset Service Providers (VASPs) to monitor suspicious transaction patterns. When they identify a wallet at risk, investigators will contact the potential victim by phone or email before scammers complete the fraud.  Additionally, the other focus is “pig butchering” scams, a long-term social engineering scheme where criminals slowly build trust with victims. After gaining confidence, scammers trick victims into signing transactions that grant access to their crypto wallets through malicious smart contracts. To avoid confusion, while pig butchering refers to the broader manipulation strategy,…

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Filed under: News - @ March 18, 2026 5:23 am