Operation Atlantic Freezes $12M in Crypto Scams, Uncovers $45M Fraud Network!

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NCA Operation Atlantic Freezes $12M in Crypto Scam Cases

Key Highlights

  • NCA-led Operation Atlantic helped freeze over $12 million in crypto scams, identifying 20,000 victims across multiple countries.
  • Around $45 million in global crypto fraud was uncovered, underscoring the scale of approval phishing scams.
  • The operation was carried out in collaboration with agencies like the U.S. Secret Service.

Today, the UK’s National Crime Agency (NCA) and its international partners revealed they’ve frozen over $12 million and located more than 20,000 victims as part of a large operation targeting cryptocurrency fraud.

In March 2026, authorities in the UK, US, and Canada teamed up for Operation Atlantic to crack down on “approval phishing” scams. These scams fool people into handing over control of their digital wallets, which hold cryptocurrency.

Law enforcement has successfully disrupted cryptocurrency scammers and frozen $12 million as part of Operation Atlantic, led by the National Crime Agency. Learn more about the case here.

— National Crime Agency (NCA) (@NCA_UK) April 9, 2026

Details of the operation

The National Crime Agency led a week-long operation, working with the U.S. Secret Service, Ontario Provincial Police, and Ontario Securities Commission. These groups teamed up to share information and use technology to monitor and stop the movement of illegal funds using cryptocurrency.

This operation primarily targeted “approval phishing,” a growing type of scam where criminals trick people into giving them access to their digital wallets. They often do this by pretending to offer real investment opportunities.

Investigators have uncovered a widespread fraud affecting over 20,000 people internationally, with many already losing money or facing potential losses. One victim in the UK lost over £52,000. Law enforcement has frozen $12 million and identified over $45 million in stolen cryptocurrency linked to these global fraud networks.

Private-public collaboration  

Operation Atlantic involved close teamwork between police and businesses. Companies specializing in blockchain analysis, along with banks, assisted in tracking down questionable money movements and quickly identifying people who had been affected. This allowed law enforcement to step in and stop funds from being fully sent to criminals.

The City of London Police and the Financial Conduct Authority also supported the effort, helping to create a unified international response. This operation supports the UK government’s new plan to fight fraud, which focuses on stopping scams early and improving collaboration between businesses and police.

Miles Bonfield, a deputy director at the National Crime Agency, highlighted the operation as a strong demonstration of countries working together. He explained that because criminals often operate across borders, law enforcement needs to do the same.

Cryptocurrency scams are becoming more common. The FBI recently announced that fraud involving crypto reached a new high in 2025, with people losing a total of $11.36 billion.

What it means

As an analyst, I’m seeing Operation Atlantic as a significant win in the fight against cryptocurrency fraud. It really demonstrates how effective international cooperation and the quick exchange of information can be. While the investigations are ongoing, we’ve already managed to secure millions and identify thousands of victims, which is a positive sign.

The National Crime Agency and its partners will analyze intelligence to help victims of online financial scams and track down the criminal groups behind them. This represents an ongoing, worldwide commitment to reduce the increasing danger of these scams.

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2026-04-09 21:05