UK-led 'Operation Atlantic' Freezes $12M in Crypto Scam Funds
Operation Atlantic, a coordinated effort by authorities in the US, UK and Canada, has frozen over $12 million connected to crypto approval phishing operations and flagged more than 20,000 victims. Investigators say the schemes typically trick users into granting token approvals or signing malicious transactions that enable attackers to siphon assets, then launder proceeds through mixing services and exchanges.
The freeze aims to disrupt cash-out routes and send a deterrent signal about international cooperation in crypto investigations. Officials will pursue asset tracing and recovery while urging victims to check approvals and report incidents. The case highlights both the scale of social-engineering fraud in DeFi ecosystems and the necessity of cross-border coordination to follow funds and hold perpetrators to account.