Over 20,000 crypto fraud victims identified in international crackdown

Summary

The U.K.'s National Crime Agency led Operation Atlantic, a joint international law enforcement action involving agencies from Canada, the U.S., and the U.K., identifying over 20,000 cryptocurrency fraud victims. The operation disrupted multiple fraud networks, froze more than $12 million in criminal proceeds, and identified $45 million in stolen cryptocurrency linked to approval phishing and investment scams. The action demonstrates the effectiveness of public-private partnerships in combating organized cybercrime and will inform the U.K. government's broader Fraud Strategy.

Full text

Over 20,000 crypto fraud victims identified in international crackdown By Sergiu Gatlan April 11, 2026 10:20 AM 0 An international law enforcement action led by the U.K.'s National Crime Agency (NCA) has identified over 20,000 victims of cryptocurrency fraud across Canada, the United Kingdom, and the United States. Dubbed "Operation Atlantic," this joint action took place last month, and it involved the NCA, the U.S. Secret Service, the Ontario Provincial Police, the Ontario Securities Commission, and multiple private industry partners. "The NCA hosted law enforcement agencies at their London HQ and through real time intelligence sharing, technical capabilities and victim outreach, multiple fraud networks were disrupted across the world," the NCA said. "City of London Police, Financial Conduct Authority and other international law enforcement bodies also joined the weeklong action." The investigators have also frozen more than $12 million in suspected criminal proceeds obtained through "approval phishing" attacks, in which scammers trick victims into granting them access to their cryptocurrency wallets, typically via investment scams. They also identified more than $45 million in stolen cryptocurrency connected to fraud schemes worldwide. Officials said the public-private partnership model used in Operation Atlantic will be a core element of the U.K. government's recently announced Fraud Strategy, which connects industry data and law enforcement expertise to enable fraud prevention. "Operation Atlantic is a powerful example of what is possible when international agencies and private industry work side by side," added Miles Bonfield, NCA Deputy Director of Investigations. "This intensive action has led to the safeguarding of thousands of victims in the UK and overseas, stopped criminals in their tracks and helped save others from losing their funds." The NCA added that, together with law enforcement and private-sector partners, it will continue to analyze intelligence gathered during this joint action to support other victims and pursue potential criminal activity. Since January 2024, the FBI has also identified more than 8,000 victims of cryptocurrency investment fraud (also known as pig butchering) with support from the U.S. Secret Service, as part of Operation Level Up. The FBI said that roughly 77% of those victims were unaware they were being scammed and that the estimated savings to victims is $511,511,288. In its 2025 Internet Crime Report, the FBI said it received 61,559 complaints of cryptocurrency investment fraud last year, linked to $7.228 billion in losses and representing a massive 48% increase in complaints and a 25% increase in losses from 2024. Automated Pentesting Covers Only 1 of 6 Surfaces. Automated pentesting proves the path exists. BAS proves whether your controls stop it. Most teams run one without the other.This whitepaper maps six validation surfaces, shows where coverage ends, and provides practitioners with three diagnostic questions for any tool evaluation. Get Your Copy Now Related Articles: FBI: Americans lost a record $21 billion to cybercrime last yearUK sanctions Xinbi marketplace linked to Asian scam centersUK’s Companies House confirms security flaw exposed business dataFBI arrests suspect linked to $46M crypto theft from US MarshalsUK warns of Iranian cyberattack risks amid Middle-East conflict

Indicators of Compromise

• malware — approval phishing

Entities