The US Secret Service announced a new international initiative aimed at combating crypto scams. In a press release issued on Monday, it was revealed that this week, law enforcement agencies from the United States, the United Kingdom, and Canada are collaborating on what they called “Operation Atlantic.” 

This joint effort is primarily focused on identifying individuals who may have lost or are at risk of losing crypto assets due to “approval phishing,” a tactic frequently linked to investment scams in the digital asset sector.

The primary goal of Operation Atlantic is to disrupt organized fraud schemes, assist victims in securing their assets to prevent further losses, recover funds that have been stolen, and raise public awareness surrounding the various scams linked to crypto investments. 

This initiative is co-hosted by the US Secret Service in partnership with the United Kingdom’s National Crime Agency, the Ontario Provincial Police, and the Ontario Securities Commission.

The operation also includes participation from additional agencies such as the Royal Canadian Mounted Police, the City of London Police, the US Attorney’s Office for the District of Columbia, and the UK’s Financial Conduct Authority. 

The targeted scams typically involve victims unknowingly signing off on fraudulent transactions or granting permission for attackers to access their digital wallets—a practice known as “authorization abuse.” 

In January, Scam Sniffer reported a major 83% decrease in reported losses from cryptocurrency phishing attacks during 2025, plummeting to approximately $84 million compared to nearly $494 million the year before.

Paul Foster, Deputy Director of Cyber at the UK’s National Crime Agency, emphasized the growing sophistication of approval phishing scams in the crypto industry, stating: 

Operation Atlantic is designed to protect the public by providing early warnings and assisting individuals in securing their assets. This cooperative international operation further strengthens our partnerships. As criminals operate across borders, our responses must also adapt in a similar manner.

Notably, the foundation of Operation Atlantic builds on the successes of Project Atlas, a Canadian-led initiative from 2024, hosted by the Ontario Provincial Police and attended by the US Secret Service. That operation specifically targeted international cryptocurrency investment fraud networks.

Jennifer Spurrell, Detective Superintendent and Director of the Financial Crimes Services Bureau at the Ontario Provincial Police, also emphasized the importance of this collaboration. She said: 

Project Atlas demonstrated the effectiveness of coordinated disruption. We’re proud to contribute to Operation Atlantic, which expands upon that model by uniting international partners to take action in real time. As fraud continues to evolve into a global issue, this level of collaboration is essential.

Featured image from OpenArt, chart from TradingView.com 

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