Operation Atlantic Freezes $12M in Crypto Fraud Funds
- Crypto firms and government agencies collaborated in “Operation Atlantic” to combat crypto fraud schemes.
- The operation resulted in $12 million in frozen funds and $45 million in total traced funds linked to fraud.
- Held at the U.K.’s NCA headquarters, it involved Binance, Coinbase, the U.S. Secret Service, and others.
- More than 20,000 victims of approval phishing fraud were identified during the operation.
- Over 120 web domains used for fraudulent schemes were identified by the Secret Service.
Operation Atlantic demonstrates effective collaboration between international agencies and private industry to tackle crypto fraud swiftly using blockchain technology. The operation safeguarded thousands of victims by freezing fraudulent funds and disrupting criminal networks.
In a single week-long sprint, $12 million was frozen with hopes of returning it to victims, while $45 million was traced as part of ongoing efforts against crypto scams.Source)
