Ethereum Scam Disrupted by Secret Service

Operation Avalanche Disrupts $4.3M Ethereum Phishing Scam

• The U.S. Secret Service and Canadian authorities targeted $4.3 million in “approval phishing” scams.
• Operation Avalanche focused on compromised Ethereum wallets.
• The B.C. Securities Commission and multiple Canadian police departments participated.
• An unnamed crypto exchange and a blockchain analyst were involved.
• Approval phishing has led to an estimated $2.7 billion in losses from May 2021 to July 2024.

The U.S. Secret Service and Canadian officials collaborated in Operation Avalanche, targeting $4.3 million in approval phishing scams affecting Ethereum wallet holders, with support from various law enforcement agencies and financial partners.