NCA-led Operation Atlantic targets crypto fraud schemes, freezing £12M and warning victims of approval-phishing scams.
A major international operation targeting cryptocurrency fraud has led to £12 million in suspected criminal assets being frozen, according to the UK’s National Crime Agency (NCA).
The crackdown, known as Operation Atlantic, focuses on disrupting scams that exploit cryptocurrency users through deceptive techniques such as “approval phishing.” The operation is being carried out in cooperation with the United States Secret Service, Canadian law enforcement agencies, and financial regulators.
Approval phishing scams trick victims into granting criminals permission to access their crypto wallets. Once access is approved, attackers can move funds to other wallets, often making the theft difficult to trace.
Investigators say the operation is also aimed at identifying people who may have already lost funds or who could still be at risk. Authorities are contacting potential victims directly by phone and email to warn them about the scam and help prevent further losses.
Law enforcement agencies are working closely with virtual asset service providers and cryptocurrency platforms operating in the UK to detect suspicious transactions and trace stolen funds.
Officials say the action highlights the growing threat posed by crypto-related fraud schemes, which increasingly target individuals through fake investment opportunities, malicious websites, and fraudulent wallet approvals.
The NCA urged cryptocurrency users to verify transaction details carefully before approving wallet access requests and to be cautious of unsolicited investment offers or links sent through emails, messages, or social media.
Authorities say Operation Atlantic remains ongoing as investigators continue tracking suspected fraud networks and identifying additional victims.
Reports are sourced from official documents, law-enforcement updates, and credible investigations.
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