The fight against crypto-related fraud is shifting into high gear. The United States, the United Kingdom and Canada have just announced a joint operation to track down fraud networks and better protect investors. A coordinated response that could mark a turning point in the battle against digital crime.
In brief
- The US, UK and Canada launch “Operation Atlantic” to combat crypto fraud.
- The initiative particularly targets phishing scams targeting digital wallets.
- Several major agencies participate: the US Secret Service, the UK NCA, the Canadian RCMP and the UK FCA.
An international coalition facing a growing threat
US, British and Canadian authorities officially launched “Operation Atlantic” on Monday to combat crypto scams.
The initiative brings together several major institutions: the US Secret Service, the UK's National Crime Agency (NCA) and Canadian authorities, including the Ontario Provincial Police and the Ontario Securities Commission.
The goal is clear: quickly identify fraud networks, prevent phishing attacks and recover stolen digital assets. Authorities also hope to spot potential victims before their wallets are completely emptied.
According to Brent Daniels, deputy director of the Secret Service's Office of Field Operations, investment scams and phishing attacks cost investors millions of dollars each year. The operation therefore aims to detect these fraudulent activities almost in real time.
The initiative is based in particular on the Atlas project, launched in 2024 in Canada with the support of the American authorities to monitor crypto fraud networks. Now the operation takes on an international dimension with the participation of the Royal Canadian Mounted Police, the City of London Police, the Financial Conduct Authority (FCA) and the US Attorney's Office for the District of Columbia.
This cooperation reflects a major development: crypto crime crosses borders, forcing authorities to coordinate their investigations on a global scale.
Crypto phishing, an exploding criminal industry
If governments are stepping up their effortsthis is because scams linked to cryptocurrencies are taking on an unprecedented scale. Phishing attacks remain one of the most widespread techniques.
In this type of scam, fraudsters trick the victim into signing a malicious blockchain transaction. This simple gesture can allow criminals to obtain permission to transfer the tokens from the victim's wallet.
According to several blockchain analysis companies, this mechanism has made it possible to steal several billion dollars in recent years. A campaign called “Spincaster” reportedly revealed that fraudulent approval scams resulted in the theft of approximately $2.7 billion between 2021 and 2024.
The situation becomes even more worrying with the arrival of artificial intelligence. Recent analysis shows that scammers are now using deepfakes, automated chatbots, and digital impersonations to deceive their victims.
These tools make it possible to run large-scale campaigns. In some cases, criminals can contact hundreds of thousands of targets in a matter of hours, while making their messages more credible.
Result: losses linked to crypto scams are now reaching record levels. Several sector analyzes cite tens of billions of dollars stolen each year.
Faced with such a global threat, international cooperation becomes essential. Crypto transactions circulate instantly across borders, which greatly complicates the work of investigators.
It is precisely in this context that Operation Atlantic takes place. However, faced with crypto crime capable of constantly reinventing itself, the authorities will have to demonstrate flawless responsiveness and coordination.
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