Ontario Securities Commission co-hosts Operation Atlantic international enforcement action targeting approval phishing crypto fraud

The Ontario Securities Commission announced it is co-hosting Operation Atlantic, a joint law enforcement initiative across the United States, the United Kingdom and Canada focused on identifying people who may have lost, or are at risk of losing, cryptoassets through "approval phishing" and related cryptocurrency investment scams. The initiative is intended to disrupt organised fraud schemes, help victims secure their assets to prevent further losses, support the recovery of stolen funds and raise public awareness. Operation Atlantic is co-hosted with the U.S. Secret Service, the UK’s National Crime Agency and the Ontario Provincial Police, with additional participation from the Royal Canadian Mounted Police, the City of London Police, the U.S. Attorney’s Office for the District of Columbia and the UK Financial Conduct Authority, alongside private-sector partners. The release describes approval phishing as a technique that tricks victims into unknowingly granting full access to their cryptocurrency wallet, often via a fake pop-up or alert that appears to come from a trusted service, enabling criminals to transfer assets in transactions that cannot be reversed and are difficult to recover. The operation is being conducted during the week of 16 March 2026 and builds on Project Atlas, a 2024 Canadian-led initiative hosted by the Ontario Provincial Police that targeted international cryptocurrency investment fraud networks.