Law enforcement agencies from the U.S., the U.K., and Canada have joined forces to tackle the issue of international crypto frauds. There are multiple aims behind this collective effort dubbed Operation Atlantic, including curbing circulating crypto fraud schemes, recovering stolen assets, and raising awareness among investors.
The US Secret Service, UK National Crime Agency have joined Canada’s Ontario Provincial Police and the Ontario Securities Commission in this initiative.
Under Operation Atlantic, these agencies plan to identify investors at risk of being phished by crypto scammers.
“Operation Atlantic operators” will be reaching out to individuals found to be at risk of falling prey to potential pig butchering scams wherein victims are lured into investments in scam tokens on promises of high returns.
The collective statement issued by the law enforcement agencies have, however, warned crypto investors to thoroughly verify the identities of investigating officers before engaging.
“If you are contacted by any Operation ATLANTIC officers and wish to verify that the call or email is genuine you may contact the National Crime Agency,” the statement said, sharing official contact details.
Source: National Crime Agency
Bonnie Lysyk, Executive Vice President, Enforcement at the Ontario Securities Commission has reportedly said, “we are using innovative techniques, advanced tools, and extensive expertise to disrupt bad actors and protect investors from the harm they (scammers) seek to cause.”
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 (FCA) will also reportedly be joining Operation Atlantic.
The development comes at a time when crypto scams have shown a visible growth last year.
On-chain intelligence firm Chainalysis estimates that crypto impersonation scams rose by 1,400 percent last year, compared to 2025. Moreover, in a January report Chainalysis also claimed that a whopping $17 billion were stolen owing to crypto frauds last year.