An international law enforcement operation led by the UK’s National Crime Agency (NCA) has identified more than 20,000 victims of cryptocurrency fraud across Canada, the United Kingdom, and the United States.
Called “Operation Atlantic,” this joint operation took place last month, and involved the NCA, the US Secret Service, the Ontario Provincial Police, the Ontario Safety Commission, and several private industry partners.
“The NCA hosts law enforcement agencies at their London HQ and by sharing real-time intelligence, technical capabilities and communicating with victims, many fraud networks are disrupted around the world,” the NCA said. “The City of London Police, the Financial Conduct Authority and other international law enforcement agencies have also joined the week-long operation.”
Investigators also seized more than $12 million in suspected criminal proceeds from “phishing” attacks, where fraudsters trick victims into giving them access to their cryptocurrency wallets, often through investment scams. They also identified more than $45 million in stolen cryptocurrency linked to fraud schemes around the world.
Officials said the public-private partnership model used in Operation Atlantic will form the basis of the UK government’s recently announced Fraud Strategy, which links industry data and law enforcement technology to tackle fraud.
“Operation Atlantic is a powerful example of what can happen when international organizations and the private sector work together,” added Miles Bonfield, the NCA’s Deputy Director of Investigations.
“This strong action has led to the protection of thousands of victims in the UK and overseas, stopping criminals in their tracks and helping to save others from losing their money.”
The NCA added that, in collaboration with law enforcement and private sector partners, it will continue to analyze the intelligence gathered during this joint operation to support other victims and pursue possible criminal activity.
Since January 2024, the FBI has also identified more than 8,000 victims of cryptocurrency investment fraud (also known as pig slaughter) with the help of the US Secret Service, as part of Operation Level Up. The FBI said about 77% of those victims were unaware they were being scammed and that the estimated savings for victims was $511,511,288.
In its 2025 Internet Crime Report, the FBI said it received 61,559 complaints of cryptocurrency investment fraud last year, which was linked to $7.228 billion in losses and represents a 48% increase in complaints and a 25% increase in losses from 2024.
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