An international effort by law enforcement, spearheaded by the UK’s NCA, has uncovered over 20,000 people in Canada, the UK, and the US who have fallen victim to cryptocurrency scams.

This collaborative effort, called “Operation Atlantic,” occurred last month and included the NCA, the U.S. Secret Service, the Ontario Provincial Police, the Ontario Securities Commission, and various private sector partners.

The NCA stated that their London headquarters hosted law enforcement agencies, enabling the disruption of many fraud networks globally through real-time information sharing, technological capabilities, and victim outreach. The City of London Police, Financial Conduct Authority, and other international law enforcement organizations also participated in the week-long operation.

The investigators have also blocked access to over $12 million in suspected illegal funds gained through “approval phishing,” where scammers deceive people into granting access to their crypto wallets, often through fake investment opportunities. They also found over $45 million in stolen cryptocurrency related to fraudulent schemes worldwide.

Officials noted that the public-private collaboration model used in Operation Atlantic will be central to the U.K. government’s recently announced Fraud Strategy, which combines industry data with law enforcement expertise to help prevent fraud.

Miles Bonfield, NCA Deputy Director of Investigations, added that “Operation Atlantic” demonstrates the potential when international agencies and the private sector collaborate.

He stated that this extensive operation has protected numerous victims in the UK and internationally, stopped criminals, and prevented others from losing their funds.

The NCA added that, along with law enforcement and private sector partners, it will continue to analyze information gathered during this joint operation to support further victims and pursue possible criminal activities.

Since January 2024, the FBI, with support from the U.S. Secret Service, has also identified more than 8,000 victims of cryptocurrency investment fraud (also known as pig butchering) via Operation Level Up. The FBI reported that approximately 77% of these victims were unaware of the scam and that $511,511,288 was saved for the victims.

In its 2025 Internet Crime Report, the FBI reported 61,559 complaints of cryptocurrency investment fraud last year, resulting in $7.228 billion in losses, a significant 48% increase in complaints and a 25% increase in losses compared to 2024.