International Law Enforcement Operation Seeks to Disrupt Crypto Fraud

[Franklyn-wood]

I hope this would help but I still think there is nothing better than educating the people. Prevention is better than cure but the bad side is that some people are not ready to learn until they are scammed. This can not completely eliminate crypto phishing and investment scam but I think it will help to some extent.

What do you think about this?

Where crime prevails and people get to benefit from big in it, don’t just assume those criminals are mere ones. As you’re upping your security system to stop them from earning through this scam methods, they’re also trying to look for ways to better their strategy to disrupt your counter strategy on them. It may end up being a war between them and a challenge to do better and better one’s security system. This I know will further mitigate how these scammers get to benefit from these scams, but I’m convinced enough that it won’t completely eliminate it. Like the OP said, some people will be scammed before they take on preventive measures next time.

Many people are becomes victims to this scammers not only because they are careless or they have less understanding about Bitcoin, but because this scammer upgrade all there knowledge on how to defraud people in other to gain more access to there target audience.
This scammers do also have connections with some top influencial people who will do all they can to protect this scammers because they also get some reasonable percentage of the successful business they do, and won't stop at anything to protect there sour e of income.

[DYOR+BTC]

I hope this would help but I still think there is nothing better than educating the people. Prevention is better than cure but the bad side is that some people are not ready to learn until they are scammed. This can not completely eliminate crypto phishing and investment scam but I think it will help to some extent.

What do you think about this?

Where crime prevails and people get to benefit from big in it, don’t just assume those criminals are mere ones. As you’re upping your security system to stop them from earning through this scam methods, they’re also trying to look for ways to better their strategy to disrupt your counter strategy on them. It may end up being a war between them and a challenge to do better and better one’s security system. This I know will further mitigate how these scammers get to benefit from these scams, but I’m convinced enough that it won’t completely eliminate it. Like the OP said, some people will be scammed before they take on preventive measures next time.

Many people are becomes victims to this scammers not only because they are careless or they have less understanding about Bitcoin, but because this scammer upgrade all there knowledge on how to defraud people in other to gain more access to there target audience.
This scammers do also have connections with some top influencial people who will do all they can to protect this scammers because they also get some reasonable percentage of the successful business they do, and won't stop at anything to protect there sour e of income.

Of a truth the scammers has upgraded their knowledge beyond expectations but can never work if we don't grant them access to our assets either directly or indirectly.  From the way the crypto world is designed,  it is not possible gaining access to once assets if his informations are not exposed, therefore I will say its because of the carelessness of investors and not the weakness of the systems firewalls.
On this issue of constant scam, I will say we need to be very careful while handling our informations because we don't know who is who.

[EluguHcman]

In brief, about the initiative, United States, United Kingdom and Canada are conducting Operation Atlantic through U.S. Secret Service, the UK’s National Crime Agency, the Ontario Provincial Police, and the Ontario Securities Commission focusing on identifying victims who may have lost - or are at risk of losing - crypto assets through "approval phishing,” which is often linked to cryptocurrency investment scams. Operation Atlantic will identify and disrupt these scams in near real-time, denying criminals the ability to further profit from their crimes.”

That will be incredible.
So you are telling me that at as the time comes forth there will be no way for scammers to succeed any victim in the entire crypto industry or you are specifically referring to those investment scam schemes? Of course we can also consider more scamming schemes on the shit coins with the exhibitions of the Ponzi.

If the digital system can become risk free, that is better for the crypto community users but it is a great doubt that there is ever going to be any trustworthy and transparent organization that can keep confident to that claim or promise.
The authorities have not yer taken hold of regulating the trading markets and fiats to be 100% scam free.

I also blame those investors investing on the third parties crypto investment companies because that has also been a scheme of beginners falling into scam.

Proper educations should be giving to the communities while the agenda of the government creating the regulatory cycle may still be as much important to hunt the scammers by edge to edges.

[Luzin]

Proper educations should be giving to the communities while the agenda of the government creating the regulatory cycle may still be as much important to hunt the scammers by edge to edges.

The very encouraging thing is that the government has been open to consumer asset protection. But I realize that the law sometimes works very slowly. What's worse, even if the criminal has been found, our lost money may not necessarily be recovered in full. Therefore, the best control actually lies with us. Do not trust digital investment scheme offers too easily. Managing your own digital assets is far better than handing them over to others without being able to access your assets. This must not happen, such offers usually make profits that are far beyond what is reasonable.

[Sammysmart001]

Managing your own digital assets is far better than handing them over to others without being able to access your assets. This must not happen, such offers usually make profits that are far beyond what is reasonable.

This really good that the law enforcement are stepping up. But also just so you know that if a scammed should love your crypto, you getting it back it fucking impossible.

The police can get hold the scammer but your funds is usually gone forever in most cases. That why protecting it from the first place is the only protecting. Scammers will have no business, once we come to stop chasing all this quick money and all this fake fast promises.

Do well to hold and protect your keys and avoid patronizing random people you don’t know. We can’t wait for our government to come protect our bag. 

[blockman]

This really good that the law enforcement are stepping up.

They have to step up for it, but the irony is that we don't want them to be involved into crypto and the regulators are giving us laws and regulations that are against us. But in times of need, they are there to help the victims of scams.

The police can get hold the scammer but your funds is usually gone forever in most cases. That why protecting it from the first place is the only protecting. Scammers will have no business, once we come to stop chasing all this quick money and all this fake fast promises.

Scammers will continue to scam people. Even if they have been busted, they might be in jail for a year or two but after that if they won't change they'll continue to do it as if they're it's a casual day.

Do well to hold and protect your keys and avoid patronizing random people you don’t know. We can’t wait for our government to come protect our bag. 

That's right, we can't wait for them at all times to protect us. We have to be responsible for our actions, and just as the common attacks like the phishing through faking websites. One way is to avoid clicking those links if you're unaware of it.

[PrivacyG]

What the heck is "approval phishing"? I'm so confused here. Are they talking about people coercing the victims on messaging platforms, or e.g. phishing websites?

It is the one where people approve a Smart Contract that pretty much give the bad guy access to all their Shit Coins.

This announcement was so vague, and looking back, I don't think it really helped with anything.

They made it sound like some Three Letter Agency guy will come out of no where and break the door of the bad guy open, arresting him before he could even take that money from the victim.  'Near real time', what ever that is supposed to mean.

[Tamaperdana]

Snip

I hope this would help but I still think there is nothing better than educating the people. Prevention is better than cure but the bad side is that some people are not ready to learn until they are scammed. This can not completely eliminate crypto phishing and investment scam but I think it will help to some extent.

What do you think about this?

Educating the public and providing them with prevention information to avoid fraud is clearly better. It's better for individuals to safeguard their assets individually rather than having one agency constantly guard them. That's clearly not ideal. However, as an initial preventative measure, this is clearly a good move. Immediate action is essential if they want to address this issue in the short term.

Long-term, they can begin educating the public so they can learn for themselves and avoid falling for phishing and similar scams. Hopefully, everything will turn out well and this type of fraud will continue to decline. Honestly, it's quite frightening to see so many scammers still roaming around. Hopefully, the scammers can be caught soon so things can improve.

[Darker45]

It's hard to make something out of this announcement. It's made up of general statements. While there may be specifics they can't divulge as they might compromise operations, I don't think the alternative is to provide zero idea as to the how.

"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".

As to the warning, people get it all the time. As to the help to secure assets, how exactly? Or at what price? Is it by surrendering whatever little privacy left? Should people register withdrawal addresses together with their personal information so that approvals to unregistered addresses mean nothing? People can only guess.

[tech30338]

It's hard to make something out of this announcement. It's made up of general statements. While there may be specifics they can't divulge as they might compromise operations, I don't think the alternative is to provide zero idea as to the how.

"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".

As to the warning, people get it all the time. As to the help to secure assets, how exactly? Or at what price? Is it by surrendering whatever little privacy left? Should people register withdrawal addresses together with their personal information so that approvals to unregistered addresses mean nothing? People can only guess.

Correct that i just a announcement that they will do something but the problem is it wont pass through them it will go through your emails, social accounts, apps, which they have less control, the only thing they could do is post something like how to prevent from getting scam etc.,
As much as they want to the moment we have been victim, what they could do is record reports of something like a scam, unless they do a blocking thing which is to broad and scams are changing to evade the authority.

[AVE5]

Operation Atlantic will identify and disrupt these scams in near real-time, denying criminals the ability to further profit from their crimes.

"Near real-time" ?, I don't think this whole initiative might solve to many problems.
Besides, isn't this supposed to be the actual Job of FATF or am I missing something?. But just like you've said, it is best that people are aware of these things, because choosing to play the protection role at all times won't completely eliminate or prevent the vulnerable ones from falling victim. The vulnerable ones aren't really weak... They probably just lack the awareness.

I hope you don't mean that vulnerables are only those who're ignorant?
Awareness of what did you also mean? If it's about this news with the insights of the future technology to fight against scams, it won't help a long way and even being aware of the scammers strategies with the stories about those victimized, it's not enough.
Scamming strategies will always evolve with different dimensions. I doubt if this proposal of the law enforcement can be reliable because as long it's a third parties mode of operation, we can't be 100% guaranteed free of the security threats in the cryptos.
In fact, taking control of your privacy and keys gives you higher measures of securities than relying on the third party.

[Zigabel]

In brief, about the initiative, United States, United Kingdom and Canada are conducting Operation Atlantic through U.S. Secret Service, the UK’s National Crime Agency, the Ontario Provincial Police, and the Ontario Securities Commission focusing on identifying victims who may have lost - or are at risk of losing - crypto assets through "approval phishing,” which is often linked to cryptocurrency investment scams. Operation Atlantic will identify and disrupt these scams in near real-time, denying criminals the ability to further profit from their crimes.”

Further the reading on https://www.secretservice.gov/newsroom/releases/2026/03/international-law-enforcement-operation-seeks-disrupt-crypto-fraud.

I hope this would help but I still think there is nothing better than educating the people. Prevention is better than cure but the bad side is that some people are not ready to learn until they are scammed. This can not completely eliminate crypto phishing and investment scam but I think it will help to some extent.

What do you think about this?

This will only reduce the case of people been defrauded to the barest minimum, but definitely not going to stop it completely, even with education, some people will still fall victims, everyday we see new people get into the crypto space and for the others who has been there for the longest we see crypto evolving as the day goes by and so does all these scam schemes evolve into some more innovative ways to get their victims falling pray, and the scam industry doesn't seem like one that will be completely taken out any time soon, so the best all of these measure will do is to reduce it as much as possible so that there will be only very few cases of its occurrences in the future.

Education is a very effective way of curbing this too, because if the people understands the dynamics of crypto so well and are also able to know how well to protect their assets and know when potential threats arises and are also able to identify them, it will help a lot to prevent such from happening too often too, but these scammers like i said earlier, are always innovative by the day and so should the education be in other to make it an effective measure.

[knowngunman]

Many people are becomes victims to this scammers not only because they are careless or they have less understanding about Bitcoin, but because this scammer upgrade all there knowledge on how to defraud people in other to gain more access to there target audience.
This scammers do also have connections with some top influencial people who will do all they can to protect this scammers because they also get some reasonable percentage of the successful business they do, and won't stop at anything to protect there sour e of income.

This is just a mere assumption unless you can prove it. We all know that scammers keep upgrading themselve too with their methods and even smart people sometimes fall for their tricks but saying scammers have connections with top influential protect them is something I can not agree with. It's possible though but I can not just agree without evidence. Maybe you mean to say hackers? I believe hackers may have connections with some influential people that may be working together with them. Although it can be legitimately or otherwise but they are still different from scammers.

[Nathrixxx]

Do well to hold and protect your keys and avoid patronizing random people you don’t know. We can’t wait for our government to come protect our bag. 

Well said, the security of our wallet depends on how we handle it, the government will not come in for us or prevent any of the attack from coming, we have everything in control to ensure that we maintain high security measures and also include privacy in what, once we don't give them the entry route to scam us, you will always be protected because we know what we are doing and are taking every step with a deliberate focus understanding it relevance.

[Ojima-ojo]

Disrupt them before the establishment of the scheme, like getting their site flagged as scam just like what telegram is doing whenever a project is identified as scam their get tagged on their profile.


This will help alot to reduce cryptocurrency investments fraud and save millions of victims from getting scammed in the future, like what we have experience in the past with the numerous cryptocurrency scams that happened in the past.

[Hyphen(-)]

Many people are becomes victims to this scammers not only because they are careless or they have less understanding about Bitcoin, but because this scammer upgrade all there knowledge on how to defraud people in other to gain more access to there target audience.
This scammers do also have connections with some top influencial people who will do all they can to protect this scammers because they also get some reasonable percentage of the successful business they do, and won't stop at anything to protect there sour e of income.

In as much as I know you can’t trust anyone in crypto space, this can just be your own opinion based on how scammers are operating now, they operate as if they have accurate information which is mostly due to how they also do research and also update their methods of scams if their old methods get known by people. But I still believe that some developers and influencers are part of the team, in fact some of them can be the scammers because they are all in crypto space for money, they can also scam people.

But I believe that if we can avoid being greedy by all means, we can avoid scammers to some extent except for some platform we might be using, but if you decide to just invest and hold, and maybe trade, you will have nothing to do with scammers.

[uchegod-21]

Many people are becomes victims to this scammers not only because they are careless or they have less understanding about Bitcoin, but because this scammer upgrade all there knowledge on how to defraud people in other to gain more access to there target audience.
This scammers do also have connections with some top influencial people who will do all they can to protect this scammers because they also get some reasonable percentage of the successful business they do, and won't stop at anything to protect there sour e of income.

In as much as I know you can’t trust anyone in crypto space, this can just be your own opinion based on how scammers are operating now, they operate as if they have accurate information which is mostly due to how they also do research and also update their methods of scams if their old methods get known by people. But I still believe that some developers and influencers are part of the team, in fact some of them can be the scammers because they are all in crypto space for money, they can also scam people.

But I believe that if we can avoid being greedy by all means, we can avoid scammers to some extent except for some platform we might be using, but if you decide to just invest and hold, and maybe trade, you will have nothing to do with scammers.

Scammers are very skilled and patient. When they have a goal to achieve, they will study their targets very well and even conduct research just to ensure the perfect execution of their plans. This effort put in by scammers is what most scam victims lack. They are not current, don't do research, don't care much about self-custody and don't take privacy seriously.

We can only stay one step ahead of these scammers when we understand their tactics and know a lot about Bitcoin and how the wallets or exchanges we use work. Scammers use what you don't know against you, so the best way to equip yourself is by gathering enough knowledge to defend yourself.

Before the government can protect you, you should put in efforts first to protect yourself.

[Ojima-ojo]

I hope this would help but I still think there is nothing better than educating the people. Prevention is better than cure but the bad side is that some people are not ready to learn until they are scammed. This can not completely eliminate crypto phishing and investment scam but I think it will help to some extent.

What do you think about this?

As far as I know there is no way to completely eliminate fraud or hack in cryptocurrency because that is being tied to real money and when sold or converted they would be definitely getting the equivalent to the preferred fiat they need. In even on our local currencies there are still no way to completely eliminate how people often fall into fraud or becoming a victim or hack around the space. Instead there will be a way to sanitize people and give them proper orientation regarding to their security and they hacker do launch attack or some phishing sites to people to click and become automatically victims of it.

Even if we can't eliminate scams entirely at least some effort and enforcement from government most especially inter governmental relations like this one will help to align most ads with international compliance.


Since one of their core duty is to flag scam cryptocurrency investment scheme like ponzi and other cloud related scams and hacks, this can limit the operation of those scammers, but as we have always Said let wait to see the implementation of this development.

[Nasdel4]

Checking the number of people that have been scammed or are still being scammed I don't think this would really go far in curbing this disturbing menace that has ravaged out society. The best way to go about this is to educate the people because sensitisation will make them aware of the happenings, how they can prevent it and if they have found themselves in it how to quickly recover or stop the extortion.
Looking at numbers generally this would go a longer way while saving cost of tasking a whole department or taskforce to carry out an operation that would drain them out.

[Luzin]

Checking the number of people that have been scammed or are still being scammed I don't think this would really go far in curbing this disturbing menace that has ravaged out society. The best way to go about this is to educate the people because sensitisation will make them aware of the happenings, how they can prevent it and if they have found themselves in it how to quickly recover or stop the extortion.
Looking at numbers generally this would go a longer way while saving cost of tasking a whole department or taskforce to carry out an operation that would drain them out.

It seems this would be more effective if asset holders knew how to store and take care of their assets to avoid losing them. But international law could be an official option that also adds protection. Everything is interconnected, and if combined, it would be really good. But so far, we understand that we know government law enforcement or certain agencies' work is always slow. That's what makes me pessimistic about work that should be their responsibility. There are many cases of theft that occur, but it seems that what gets exposed are thefts with very large capitalizations. Whereas for the smaller ones, it seems very rare for the media to show them. Will the institution later be effective on all cases, if it is then this will be very good.