Global Crypto Scam Crackdown Unveils Over 20,000 Victims

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Operation Atlantic Yields Over 20,000 Victims of Cryptocurrency Fraud

In a significant international law enforcement operation, authorities have identified more than 20,000 victims of cryptocurrency-related scams across Canada, the United Kingdom, and the United States.

Joint Effort Led by UK’s National Crime Agency

Dubbed “Operation Atlantic,” the joint effort was spearheaded by the U.K.’s National Crime Agency (NCA), in collaboration with the U.S. Secret Service, the Ontario Provincial Police, and the Ontario Securities Commission.

Miles Bonfield, NCA Deputy Director of Investigations, said: “This operation showcases the effectiveness of collaborative efforts between international agencies and private industry. By working together, we have safeguarded numerous victims, thwarted perpetrators, and prevented further financial losses.”

$57 Million in Stolen Cryptocurrencies Identified

As a result of the operation, investigators froze over $12 million in suspected illicit gains derived from “approval phishing” attacks, wherein scammers deceive victims into granting access to their digital currency wallets through investment scams. Additionally, more than $45 million in stolen cryptocurrencies was identified as being connected to various fraud schemes globally.

U.S. Also Sees Significant Rise in Cryptocurrency Investment Scams

The Federal Bureau of Investigation (FBI) has identified over 8,000 victims of cryptocurrency investment scams since January 2024, with the assistance of the U.S. Secret Service under Operation Level Up. Approximately 77% of these victims were unaware they were being deceived, resulting in an estimated loss of $511,511,288.

International Cooperation Key to Combating Cryptocurrency Crimes

The public-private partnership model employed in Operation Atlantic will serve as a cornerstone of the U.K. government’s newly announced Fraud Strategy, which brings together industry data and law enforcement expertise to combat fraudulent activities.

FBI Reports Significant Increase in Cryptocurrency Investment Fraud Complaints

The FBI reported receiving 61,559 complaints of cryptocurrency investment fraud in 2025, linked to $7.228 billion in losses, representing a significant 48% increase in complaints and a 25% rise in losses compared to 2024.