Global crypto scam disrupted, $12 million recovered in Operation Atlantic

As reported by The Register, law enforcement agencies from the US, UK, and Canada have successfully disrupted a global cryptocurrency scam valued at $45 million, freezing $12 million in illicitly obtained funds and identifying over 20,000 victim wallet addresses across 30 countries.

The week-long initiative, named Operation Atlantic, was a joint effort involving the US Secret Service, the UK National Crime Agency, and Canadian police forces, with private sector collaboration. The scam, identified as a "pig butchering" scheme, tricked victims into granting full access to their cryptocurrency accounts, often after receiving fake notifications. Scammers then drained these accounts. During the operation, authorities directly contacted more than 3,000 victims, returning $12 million. An additional $33 million linked to investment fraud schemes was also identified for further investigation.

According to an FBI report, cybercrime losses to US businesses and consumers reached a record $20.87 billion in 2025, with cryptocurrency scams alone causing $1.366 billion in losses last year, a 22% increase. 

Source: The Register