The US, UK, and Canada jointly launched "Operation Atlantic" to combat cryptocurrency phishing scams

According to CoinDesk, law enforcement agencies from the United States, the United Kingdom, and Canada have jointly launched a multinational operation called "Operation Atlantic," focusing on combating "approval-phishing" scams targeting cryptocurrency users.

The Ontario Securities Commission stated that these scams typically use pop-ups and prompts disguised as trustworthy applications or services to guide users into authorizing malicious wallet permissions. Once authorized, attackers can control the wallet and transfer assets. Data shows that cryptocurrency scams are expected to generate at least approximately $14 billion in on-chain illegal revenue by 2025, with the total scale potentially approaching $17 billion as more involved wallets are identified.

Law enforcement agencies pointed out that current scam activities increasingly rely on social engineering, AI-generated content, and "Phishing-as-a-Service" platforms. The operation is being coordinated by multiple national law enforcement agencies, and regulators stated that the new initiative will help identify victim wallets, timely warn potential victims, and attempt to track and freeze stolen cryptocurrency assets to reduce the space for criminals to profit further.

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