In March, law enforcement agencies from the United States, the United Kingdom, and Canada launched a joint operation codenamed Operation Atlantic, successfully freezing over $12 million in funds related to cryptocurrency phishing scams. The operation was led by the UK National Crime Agency, the US Secret Service, and the Ontario Police Force, with the aim of cracking down on authorized phishing attacks targeting digital asset users.

Investigations revealed that this criminal gang had identified more than 20,000 victims across the three countries, causing actual losses exceeding $45 million. Such scams exploit malicious authorization agreements to trick users into approving transactions without their knowledge, allowing attackers to directly transfer specific cryptocurrency assets from the victims wallets.

According to Monitored by Woofun AI, this type of authorized phishing has evolved into one of the most destructive methods of stealing digital assets, boasting greater concealment than traditional fraud schemes. During the operation, the UK National Crime Agency conducted on-site investigations, while major cryptocurrency exchanges provided critical support through real-time account audits and intelligence analysis.

It is worth noting that these exchanges emphasized that they did not deduct any funds from users accounts but assisted in identifying active scam websites to prevent further damage. As collaboration between public and private sectors deepens, the inherent transparency of blockchain technology is being transformed into an effective tool for tracking criminal activities.