For years, crypto fraud was linked to hackers stealing funds that seemed to vanish on the blockchain. Now, that perception is changing. Three countries have joined forces to stop scams in real time.

Called Operation Atlantic, the initiative brings together the U.S. Secret Service, the UK’s National Crime Agency (NCA), and Canadian authorities.

Instead of only tracing stolen funds after a crime, the operation aims to detect and prevent scams before money is taken.

Main focus of Operation Atlantic

The main target is “approval phishing.” In this scam, victims are tricked into signing a transaction that quietly permits attackers to access their crypto wallets.

By working with private blockchain firms and analyzing real-time data,…