US, UK, and Canada Launch Operation Atlantic to Combat Crypto-Approval Phishing Scams

Gate News reports that on March 16, the United States, the United Kingdom, and Canada law enforcement agencies jointly launched a cross-border operation called Operation Atlantic, focusing on combating approval-phishing scams targeting crypto users. The Ontario Securities Commission stated that these scams often disguise themselves as trusted apps or services through pop-ups and prompts, tricking users into granting malicious wallet permissions. Once authorized, attackers can control the wallet and transfer assets. Data shows that crypto scams generated at least $14 billion in on-chain illegal revenue by 2025. As more involved wallets are identified, the total scale could approach $17 billion. Law enforcement officials noted that current scams increasingly rely on social engineering, AI-generated content, and “Phishing-as-a-Service” platforms. This coordinated effort by multiple countries aims to identify compromised wallets, alert potential victims in a timely manner, and attempt to trace and freeze stolen crypto assets to reduce criminals’ profit opportunities.