Law enforcement agencies from the US, UK, and Canada recently launched a joint international operation codenamed Operation Atlantic, successfully dismantling a transnational cryptocurrency fraud network. Led by the UK National Crime Agency in collaboration with the US Secret Service and Canadian police, the operation received intelligence support from several leading cryptocurrency exchanges. Official data shows the network involved over 45 million US dollars in fraudulent funds. Authorities have frozen approximately 12 million US dollars in stolen assets, identified more than 20,000 associated wallet addresses, and found victims across over 30 countries.

Investigators found that the crackdown focused on a new scam technique known as authorization phishing. Unlike traditional transfer inducement, criminals trick users into signing seemingly harmless blockchain transaction authorizations via fake notifications or pop-ups. Once confirmed, wallet control is transferred, and assets are drained. In some cases, gangs used leaked user data to forge emergency security warnings from hardware wallet officials, luring victims to malicious sites. During the operation, officers directly contacted over 3,000 potential victims. In the UK alone, victims lost over 50,000 British pounds to such scams.

This operation marks a shift in enforcement strategy from purely post-event tracking to real-time intervention. Multinational officers worked together during the operation week, using shared real-time intelligence and blockchain tracking technology to block scams while they were in progress. Over 120 malicious domain names used for fraud were seized. Relevant departments noted that this public-private partnership model, integrating industry data with law enforcement expertise, will become a core direction for future anti-fraud work, effectively curbing criminal activity and preventing further financial loss.

The joint action comes against a backdrop of surging cryptocurrency fraud cases. According to an Internet Crime Report released by the FBI this week, US consumers lost 11.366 billion US dollars to crypto-related fraud last year, a 22 percent increase from the previous year. Among over 180,000 related complaints, the 60 plus age group suffered the most severe losses, accounting for nearly 40 percent. Crypto investment fraud remained the main source of loss, involving 7.2 billion US dollars. Most complaints involving artificial intelligence were also crypto-related. Regional statistics show California topped the list for crypto-related losses nationwide.

For ordinary investors, these actions send a clear signal: blockchain is not a lawless zone, and law enforcement is using equally advanced technology to track illegal funds. Facing sudden investment opportunities or security warnings, maintaining vigilance and repeated verification remains the most effective firewall for protecting assets. Law enforcement also stated they will continue to deepen such cross-border cooperation models to address increasingly complex financial crime challenges.