An international law enforcement effort involving the National Crime Agency (NCA), the US Secret Service, the Ontario Provincial Police and the Ontario Securities Commission is cracking down on crypto schemes around the world.
In its statement, blockchain intelligence platform TRM Labs says it worked as a business partner in the hoax, with “Operation Atlantic” freezing more than $12 million in suspected hoaxes.
The service also identified more than $45 million in fraud worldwide and more than 20,000 people in the UK, Canada and the US.
Operation Atlantic used blockchain analytics, intelligence sharing and victim dissemination to identify and take action against acceptance scams, a type of cryptocurrency scam that gets victims to sign a blockchain transaction that gives the scammers control of their wallet.
A traditional scam involves stealing login credentials. By making false confessions, the perpetrators trick their victims into giving them permission to find and steal money from their wallets. Fraudsters often do this by killing pigs and tricking them into caring for them for a few weeks or months before directing them to another bad place.
He says NCA Deputy Director of Investigations Miles Bonfield,
“Operational Atlantic is a powerful example of what can be achieved when international organizations and private companies work together.” This massive action has resulted in the protection of thousands of people in the UK and overseas, stopping criminals and helping to save others from losing their money.
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