Operation Atlantic Launched to Combat Crypto Approval-Phishing Scams

On March 16, 2026, law enforcement agencies from the U.S., U.K., and Canada launched Operation Atlantic, targeting approval-phishing scams that have defrauded cryptocurrency users. The operation involves the U.S. Secret Service, the U.K.'s National Crime Agency, and Canadian agencies including the Ontario Provincial Police and the Royal Canadian Mounted Police. Approval-phishing scams trick victims into signing malicious transactions that allow attackers to drain their cryptocurrency wallets. In 2025, losses from these scams amounted to $83.85 million, an 83% decrease from $494 million in 2024, with victim counts dropping by 68%. However, the industrialization of scam operations continues, with groups like the China-based Smishing Triad reportedly generating significant profits. The operation aims to identify victims, recover stolen funds, and raise public awareness about cryptocurrency fraud.

Key Points: • Operation Atlantic targets approval-phishing scams affecting cryptocurrency users. • In 2025, losses from these scams reached $83.85 million, down from $494 million in 2024. • The operation involves multiple law enforcement agencies across the U.S., U.K., and Canada.