U.S. and Canadian authorities disrupt $4.3m crypto phishing scam
The U.S. Secret Service teamed up with Canadian authorities in a cross-border crackdown on a sophisticated crypto scam that drained $4.3 million from victims’ Ethereum wallets.
The operation, dubbed “Operation Avalanche,” involved regulators, law enforcement, and crypto platforms working to identify compromised wallets and warn potential victims.
At the heart of the scam is a tactic known as “approval phishing,” where victims unknowingly authorize fraudsters to access their crypto wallets.
Once access is granted, scammers can withdraw funds — in this case, Ethereum (ETH) — directly without further interaction. The scam is often linked to “pig butchering,” a social engineering scheme in which
