Crypto phishing scam crackdown sought by new global international law enforcement operation

U.S., Canadian, and UK law enforcement agencies have partnered to disrupt approval phishing schemes aimed at cryptocurrency users and curtail cryptocurrency theft as part of Operation Atlantic, reports Cybernews.

Advanced tools and techniques, as well as comprehensive expertise, will be harnessed to clamp down on cryptocurrency scammers, restore stolen funds, and bolster crypto investment scam awareness, according to the law enforcement agencies, which emphasized coordination with the private sector in the operation. Effectively combating approval phishing scams was noted by the U.S. Secret Service to require tighter source verification methods, multi-factor authentication, and activated account activity notifications, as well as communications with official support channels.

Meanwhile, the UK's National Crime Agency recommended increased vigilance on unwanted investment offers, as well as the use of the Etherscan and Revoke.cash tools. "Approval phishing scams are becoming increasingly sophisticated. Operation Atlantic is designed to protect the public by warning people early and helping them secure their assets," said NCA Crypto Manager Phil Macey.

Written by

Kelley Damore Chief Content Officer CyberRisk Alliance

Kelley Damore is Chief Content Officer at CyberRisk Alliance, where she leads content strategy across the company’s digital brands, research, communities and live events serving CISOs and security practitioners. At CyberRisk Alliance, she is focused on delivering 365-day engagement, trusted journalism and actionable insights to help security leaders navigate an increasingly complex threat landscape.