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Cryptoprowl.com / Canada is joining with the U.S. and United Kingdom on "Operation Atlantic," a joint law enforcement initiative aimed at stopping cryptocurrency fraud schemes and phishing attacks.

The Ontario Securities Commission (OSC) announced that it and other Canadian agencies have agreed to participate in Operation Atlantic.

The tri-country initiative will target scams that prompt victims to approve malicious wallet permissions through fake alerts or pop-ups that appear to come from trusted apps and services.

Once access is granted, criminals gain control of a person's digital wallet and can steal their Bitcoin (CRYPTO: $BTC ) or other cryptocurrencies, as well as transfer cash from accounts.

Because transactions carried out on a blockchain cannot be reversed, recovering stolen assets is extremely difficult once a digital wallet has been infiltrated.

Canada, the U.S. and the U.K. are joining forces as crypto scams across the three countries totaled more than $14 billion U.S. in 2025, according to data from Chainalysis.

Increasingly sophisticated hacks and thefts rely on social engineering tactics, artificial intelligence (A.I.) content, and phishing to trick victims into granting wallet access.

The Ontario Securities Commission says that the new operation builds on "Project Atlas," a 2024 initiative that also aimed to stop crypto fraud.

Project Atlas identified more than 2,000 compromised digital wallets across 14 countries.

Authorities in Canada, the U.S. and U.K. say the new operation will warn potential victims and guide them on how to secure compromised digital wallets while attempting to recover stolen funds and assets such as Bitcoin.

The U.S. Secret Service is reportedly the lead law enforcement agency in Operation Atlantic.

BTC is currently trading at $73,800 U.S. per digital token.