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International law enforcement disruption of cryptocurrency fraud networks exposes 20,000 victims and $57M in illicit proceeds

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An international law enforcement operation codenamed Operation Atlantic, coordinated by the U.K. National Crime Agency (NCA), has identified over 20,000 victims of cryptocurrency fraud across Canada, the U.K., and the U.S., while freezing $12.4 million in suspected criminal proceeds. The week-long operation disrupted fraud networks using approval phishing tactics to gain unauthorized access to victims’ wallets, often leveraging investment scams. Investigators also traced $45 million in stolen cryptocurrency linked to global fraud schemes. The initiative involved public-private partnerships with agencies including the U.S. Secret Service, Ontario Provincial Police, and the Financial Conduct Authority, aiming to embed this model into the U.K.'s Fraud Strategy for enhanced fraud prevention.

Timeline

  1. 11.04.2026 17:20 1 articles · 2h ago

    Operation Atlantic disrupts cryptocurrency fraud networks, identifies 20,000 victims and $57M in illicit proceeds

    An international law enforcement operation codenamed Operation Atlantic disrupted cryptocurrency fraud networks across Canada, the U.K., and the U.S., identifying over 20,000 victims and freezing $12.4 million in suspected criminal proceeds. The week-long initiative involved the U.K. National Crime Agency (NCA), U.S. Secret Service, Ontario Provincial Police, and other domestic and international law enforcement bodies, supported by private-sector partners. Investigators traced $45 million in stolen cryptocurrency linked to fraud schemes and employed approval phishing tactics, often tied to investment scams, to gain unauthorized access to victims’ wallets. The operation’s outcomes will inform the U.K.’s Fraud Strategy, which emphasizes public-private collaboration for fraud prevention.

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Information Snippets

  • Operation Atlantic, led by the U.K. National Crime Agency, identified 20,000+ victims of cryptocurrency fraud across Canada, the U.K., and the U.S.

    First reported: 11.04.2026 17:20
    1 source, 1 article
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  • The operation froze over $12 million in suspected criminal proceeds linked to approval phishing attacks and identified an additional $45 million in stolen cryptocurrency.

    First reported: 11.04.2026 17:20
    1 source, 1 article
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  • Participating agencies included the U.S. Secret Service, Ontario Provincial Police, Ontario Securities Commission, City of London Police, and the Financial Conduct Authority, alongside private industry partners.

    First reported: 11.04.2026 17:20
    1 source, 1 article
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  • Operation Atlantic aligns with the U.K. government’s Fraud Strategy, emphasizing public-private collaboration for fraud prevention.

    First reported: 11.04.2026 17:20
    1 source, 1 article
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  • Since January 2024, the FBI’s Operation Level Up has identified over 8,000 victims of cryptocurrency investment fraud (pig butchering), with 77% of victims unaware they were being scammed and estimated savings of $511.5 million.

    First reported: 11.04.2026 17:20
    1 source, 1 article
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