Odaily that law enforcement agencies in the United States, the United Kingdom, and Canada have jointly launched a transnational operation called "Operation Atlantic" to combat "approval-phishing" scams targeting cryptocurrency users. The Ontario Securities Commission stated that these scams typically use pop-ups and prompts disguised as legitimate applications or services to trick users into granting permissions to malicious wallets. Once authorized, attackers can take control of the wallet and transfer assets.
Data shows that crypto scams generated at least $14 billion in illicit on-chain revenue in 2025, and this figure is expected to approach $17 billion as more wallets involved are identified. Law enforcement agencies point out that current scams increasingly rely on social engineering, AI-generated content, and phishing-as-a-Service platforms. This operation is being coordinated by law enforcement agencies in multiple countries. Regulators say the new initiative will help identify victimized wallets, promptly alert potential victims, and attempt to track and freeze stolen crypto assets to reduce the opportunities for criminals to profit further. (CoinDesk)
