In brief
- The U.S. Secret Service is working with authorities in the United Kingdom and Canada to stop crypto fraud.
- Dubbed “Operation Atlantic,” the agencies will work together to try and stop “approval phishing” or “pig butchering” scams that are often tied to crypto.
- More than $17 billion was stolen in crypto crimes last year alone, per a Chainalysis report.
Law enforcement agencies across three countries are teaming up to try and stop crypto fraud schemes in their tracks.
Authorities in the United States, United Kingdom, and Canada will collaborate on “Operation Atlantic,” a joint international initiative to identify and squash “approval phishing” scams, which are sometimes referred to as “pig butchering.”
In these scams, individuals are often tricked into a romantic relationship online before the victim gives access to their funds to a malicious actor.
“Approval phishing and investment scams cost victims millions in financial loss each year,” said Deputy Assistant Director for the U.S. Secret Service’s Office of Field Operations Brent Daniels, in a statement.
“During Operation Atlantic, the U.S. Secret Service, alongside our international law enforcement partners, will identify and disrupt these scams in near real-time denying criminals the ability to further profit from their crimes,” he added.
The Secret Service will work in tandem with the U.K. National Crime Agency and the Ontario Provincial Police, Ontario Securities Commission, among others in public and private services.
“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 Deputy Director of Cyber at the UK’s National Crime Agency Paul Foster in a statement. “This joint international operation further enhances our strong partnerships. Criminals operate across borders, so our response must do the same.”
The trio’s collaboration follows the launch of “Operation Atlas,” a similar operation led by Canadian authorities beginning in 2024.
“Project Atlas demonstrated the power of coordinated disruption,” said Detective Superintendent Jennifer Spurrell, director of the Financial Crimes Services Bureau at the Ontario Provincial Police, in a statement. “We’re proud to be part of Operation Atlantic, which builds on that approach by uniting international partners to take action in real time.”
Pig butchering scams have been on the rise since 2020, and more than $17 billion was estimated to be stolen in crypto crimes in 2025 alone, according to analytics firm Chainalysis.
The new task force is just the latest law enforcement attempt to curb those massive losses. In November, the U.S. Department of Justice launched an interagency Scam Center Strike Force designed to “dismantle international pig butchering crypto scams tied to Chinese crime networks.”
Daily Debrief Newsletter
Start every day with the top news stories right now, plus original features, a podcast, videos and more.
