Canadian regulators and police agencies are increasing co-operation with international partners as cryptocurrency scams continue to evolve across borders. A new joint effort, known as Operation Atlantic, is focused on identifying and warning people who may have been compromised through approval-phishing schemes.

Canadian authorities are stepping up cross-border efforts to combat cryptocurrency fraud as enforcement agencies confront scams that increasingly operate on an international scale.

The Ontario Securities Commission and the Ontario Provincial Police say they are building on earlier co-ordinated initiatives aimed at reducing the impact of crypto investment fraud. Their latest project, called Operation Atlantic, is designed to identify people who may have been targeted through so-called approval-phishing attacks and to help limit further losses.

Approval phishing generally involves criminals using fake prompts, alerts or pop-ups that appear to come from legitimate apps or services. Victims are tricked into authorizing access to their crypto wallets or accounts, allowing fraudsters to move or drain assets without needing traditional login credentials.

Canadian officials say the operation includes collaboration not only among domestic agencies, but also with major international partners. In addition to the OSC and OPP, the effort involves the RCMP, the U.S. Secret Service, the U.K.’s National Crime Agency and the U.K. Financial Conduct Authority.

The initiative builds on Project Atlas, a Canadian-led operation launched in 2024 that targeted international cryptocurrency investment fraud networks. Authorities say the new effort reflects the growing reality that crypto-related fraud often crosses jurisdictions quickly, making isolated enforcement responses less effective.

Police and regulators say people who suspect they have been targeted should immediately stop communicating with the suspected scammers, update or replace compromised wallet credentials, revoke any token approvals that may have been granted, and report the incident to both local police and the Canadian Anti-Fraud Centre.

The announcement underscores how crypto fraud investigations are moving further toward international intelligence-sharing and victim outreach as enforcement agencies try to respond to scams that are becoming more sophisticated, more technical and harder to contain within any single country.

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Originally published on Canadian Fraud News.