Operation Atlantic Freezes $12 Million in Crypto Scams Amid $45 Million Fraud Sweep

- A multinational crackdown by the US, UK, and Canada disrupts cryptocurrency phishing scams. - The operation exposes over $45 million in stolen funds, with Binance spearheading public-private collaboration. On April 9, 2026, Cointelegraph reported that in a joint initiative named Operation Atlantic, law enforcement agencies from the United States, United Kingdom, and Canada successfully froze over $12 million connected to cryptocurrency phishing scams. The operation also uncovered more than $45 million in stolen assets and identified over 20,000 victims, marking a significant milestone in the fight against cybercrime in the crypto space. The operation targeted “approval phishing” scams, a sophisticated tactic where malicious actors deceive users into granting unauthorized access to their cryptocurrency accounts. Posing as trusted entities or services, scammers exploit victims’ trust to obtain sensitive account credentials or manipulate transaction approvals, which results in the theft of digital assets. Binance, one of the world’s leading cryptocurrency exchanges, played a pivotal role in the initiative by providing critical intelligence, conducting rigorous account screenings, and cooperating closely with authorities. These actions showcased the vital role public-private partnerships play in tackling cybercrime, and the exchange’s efforts underscore how collaboration can strengthen defenses against the evolving threats facing the crypto industry. This multinational effort marks a proactive step in addressing the escalating issue of cryptocurrency fraud. Authorities remain committed to dismantling these sophisticated scams, recovering stolen assets, and supporting victims of financial cybercrime, a commitment that underscores the growing need for joint enforcement action in the digital economy.