Operation Atlantic Freezes $12M in Crypto Scam Proceeds

• $12 million in ill-gotten crypto assets frozen in a major crackdown
• Joint effort uncovers $45 million in fraud and identifies over 20,000 victims

On April 9, 2026, global authorities across the United States, United Kingdom, and Canada froze $12 million tied to cryptocurrency scams in a coordinated enforcement campaign called "Operation Atlantic." The initiative uncovered more than $45 million in fraudulent transactions and identified over 20,000 victims.

According to a press release from the U.S. Secret Service, the one-week operation brought together multiple agencies, including the UK's National Crime Agency (NCA), the Ontario Securities Commission, and the Ontario Provincial Police. Additional contributors included the Royal Canadian Mounted Police, the City of London Police, and the UK's Financial Conduct Authority. These agencies collaborated with private industry partners to trace illicit funds and dismantle fraud schemes.

The investigation primarily targeted "approval phishing" scams, a method in which criminals deceive victims into granting unauthorized access to their cryptocurrency wallets. Victims are tricked into clicking fake links or completing seemingly legitimate confirmation steps that authorize fund transfers. Once authorized, scammers can drain cryptocurrency holdings almost instantly.

Private sector involvement was crucial to the operation’s success. Binance, a leading cryptocurrency exchange, stated that its Special Investigations team provided investigative support, intelligence on phishing scams, and real-time monitoring of fraudulent websites during the operation.

Operation Atlantic underscores the value of international law enforcement collaboration and public-private partnerships in tackling the growing threat of cryptocurrency-related crimes.