Crypto: The USA, the United Kingdom, and Canada Launch a Coordinated Offensive Against Scams

The fight against crypto-related fraud is moving up a gear. The United States, the United Kingdom, and Canada have just announced a joint operation to track down scam networks and better protect investors. A coordinated response that could mark a turning point in the battle against digital crime.

An international coalition facing a growing threat

American, British, and Canadian authorities officially launched “Operation Atlantic” on Monday to fight crypto-related scams.

The initiative brings together several major institutions: the US Secret Service, the UK’s National Crime Agency (NCA), and Canadian authorities, including the Ontario Provincial Police and the Ontario Securities Commission.

The goal is clear: quickly identify fraud networks, prevent phishing attacks, and recover stolen digital assets. Authorities also hope to spot potential victims before their wallets are completely emptied.

According to Brent Daniels, Deputy Director of the Secret Service’s Field Operations Division, investment scams and phishing attacks cost investors millions of dollars each year. The operation therefore aims to detect these fraudulent activities almost in real time.

The initiative notably relies on Project Atlas, launched in 2024 in Canada with support from US authorities to monitor crypto fraud networks. Now, the operation takes on an international dimension with the participation of the Royal Canadian Mounted Police, the City of London Police, the Financial Conduct Authority (FCA), and the US Attorney’s Office for the District of Columbia.

This cooperation reflects a major evolution: crypto crime crosses borders, forcing authorities to coordinate their investigations on a global scale.

Crypto phishing, a booming criminal industry

If governments are intensifying their efforts, it is because scams related to cryptocurrencies are reaching unprecedented proportions. Phishing attacks remain one of the most widespread techniques.

In this type of scam, fraudsters encourage the victim to sign a malicious blockchain transaction. This simple action can allow criminals to obtain authorization to transfer tokens from the victim’s wallet.

According to several blockchain analysis companies, this mechanism has allowed the theft of several billion dollars in recent years. A campaign called “Spincaster” reportedly revealed that fraudulent approval scams led to the theft of approximately 2.7 billion dollars between 2021 and 2024.

The situation becomes even more worrying with the arrival of artificial intelligence. Recent analyses show that scammers now use deepfakes, automated chatbots, and digital identity theft to deceive their victims.

These tools allow large-scale campaigns. In some cases, criminals can contact hundreds of thousands of targets in just a few hours, while making their messages more credible.

Result: losses related to crypto scams are now reaching record levels. Several sector analyses mention tens of billions of dollars stolen each year.

Faced with such a global threat, international cooperation becomes essential. Crypto transactions flow instantly across borders, which greatly complicates investigators’ work.

This is exactly the context in which Operation Atlantic is set. However, faced with crypto crime that can constantly reinvent itself, authorities will need to show flawless responsiveness and coordination.