Law enforcement agencies in the US, UK, and Canada have joined forces in a new operation targeting crypto scammers, aiming to intervene before stolen funds disappear.

Law enforcement agencies from the United States, the United Kingdom, and Canada have joined the operation. They focus on the so-called "approval phishing" scams that target crypto users in order to trick them into granting access to their wallets by sending them a fake pop-up requiring them to "approve" access.

Now, law enforcement agencies from three countries, alongside private-sector partners, say they’ll use "innovative techniques, advanced tools, and extensive expertise to disrupt bad actors and protect investors from the harm they seek to cause."

The operation aims to assist victims in securing assets to prevent further loss, recovering stolen funds, and raising public awareness about crypto investment scams.

"Approval phishing scams are becoming increasingly sophisticated. Operation Atlantic is designed to protect the public by warning people early and helping them secure their assets," Phil Macey, Crypto Manager at the UK's National Crime Agency, was quoted as saying.

In 2024, the Ontario Provincial Police, which also participates in Operation Atlantic, led another cross-border effort, Project Atlas, which aimed at international crypto investment fraud networks and now serves as a foundation for the recent operation.

Law enforcement agencies have also offered tips on how users can protect themselves from approval phishing and what to do if they fall victim to these crimes.

For example, the US Secret Service urged verifying sources, such as URLs, before approving requests; adding multi-factor authentication for extra protection; turning on notifications for unusual account activity; and contacting official support channels when in doubt.

Meanwhile, the UK's National Crime Agency (NCA) added that people should be wary of unsolicited investment approaches, while tools such as www.Revoke.cash and www.Etherscan.io can help review and revoke unnecessary permissions on a wallet.

In case a wallet is compromised, the victim needs to act quickly: stop communicating with scammers; secure your wallet, exchanges, email, and other relevant accounts; enable two-factor authentication; revoke unauthorised token approvals; and report suspicious activity to your cryptoasset platform or wallet provider.

The NCA has also warned to beware of recovery scams and to report the incident both to your bank and the police.

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