The UK’s NCA launches Operation Atlantic to identify victims of crypto “approval phishing” scams and disrupt international fraud networks.
The UK’s National Crime Agency (NCA) has launched Operation Atlantic, an international initiative targeting a growing wave of cryptocurrency scams known as “approval phishing.”
The operation aims to identify victims who may have unknowingly lost cryptocurrency after being tricked into granting criminals access to their digital wallets. Investigators say the scams allow attackers to withdraw funds directly from victims’ wallets once permission has been granted through malicious transactions.
Approval phishing typically involves fraudsters persuading victims to sign a transaction that gives attackers permission to move cryptocurrency from their wallets. Once the authorization is approved, criminals can repeatedly transfer funds without further interaction from the victim.
Operation Atlantic is being carried out in cooperation with several international partners, including the United States Secret Service, Canadian law enforcement, and blockchain analysis specialists. Authorities say the collaboration is designed to track stolen crypto assets across borders and identify individuals responsible for the fraud schemes.
The initiative also focuses on contacting individuals who may have been affected by these scams, allowing investigators to gather intelligence and potentially help victims secure their wallets before further losses occur.
Law enforcement agencies warn that approval phishing attacks have become increasingly common in the cryptocurrency ecosystem, often targeting users through fake websites, malicious links, or social media messages that mimic legitimate crypto services.
Officials say Operation Atlantic reflects the growing need for international cooperation in tackling crypto-related crime, as scammers frequently operate across multiple jurisdictions while moving stolen funds through decentralized blockchain networks.
Authorities are urging cryptocurrency users to carefully review transaction permissions and remain cautious when interacting with unfamiliar links or platforms that request wallet approvals.
Reports are sourced from official documents, law-enforcement updates, and credible investigations.
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