Authorities have frozen $12 million and identified 20,000 victims in a global crypto scam crackdown. Operation Atlantic, led by the UK's National Crime Agency with support from the US Secret Service and Canadian law enforcement, targeted approval phishing schemes—a growing threat where victims unknowingly grant wallet access to fraudsters.
One UK victim lost £52,000 before investigators, collaborating with private blockchain analysts, intercepted transactions in real time. The operation highlights both the sophistication of crypto-enabled fraud and law enforcement's improving capacity to track illicit flows across borders.
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