Overview
- Teams from the U.S. Secret Service, Britain’s National Crime Agency, the Ontario Provincial Police and the Ontario Securities Commission began a coordinated operation targeting wallet-permission scams tied to crypto investment fraud.
- A command centre is standing up through Friday with representatives from cryptocurrency exchanges to support rapid tracing, victim outreach and seizure efforts.
- The structure includes blockchain analysis to flag fraudulent flows, victim contact squads in San Francisco and Washington to help revoke malicious permissions, and seizure teams to attempt asset recovery.
- The initiative builds on prior campaigns including Project Atlas, which prevented roughly $70 million in potential fraud and froze about $24 million, and Operation Spincaster, which generated more than 7,000 investigative leads.
- Authorities cite the scale of losses, including $544 million reported in Canada in the first nine months of last year and at least $14 billion in on-chain scam revenue in 2025, with transnational groups often operating from Southeast Asia and additional partners such as the RCMP, the U.S. Attorney’s Office for D.C., City of London Police and the FCA involved.