TL;DR
- Payward supported Operation Atlantica coordinated international law enforcement effort led by the UK National Crime Agency and co-directed with the US Secret Service, Ontario Provincial PoliceAnd Ontario Securities Commission disturb cryptocurrency fraud And approval phishing scamswhich made it possible to identify more than $45 million in suspected criminal proceeds and more 20,000 potential victims in several jurisdictions.
- Inasmuch as industry partner in active law enforcement operationsPayward identified and notified potentially affected customers, responded to law enforcement requests for data, and deployed team members on site at NCA headquarters in Londondemonstrating how crypto exchanges can serve as operating partners to disrupt financial crime in real time.
- Approval phishing (where victims unknowingly grant malicious actors access to their crypto wallets) represents a rapidly evolving cross-border threat; Payward’s participation in operations like Atlantic reflects its commitment to integrity of the crypto ecosystem, customer protectionAnd cooperative engagement with global regulators and law enforcement.
How Operation Atlantic worked
Led by the UK’s National Crime Agency (NCA) and a joint effort with the US Secret Service, the Ontario Provincial Police and the Ontario Securities Commission, the operation brought together law enforcement and industry partners to identify victims, trace illicit funds and disrupt fraud networks.
He has identified more than $45 million in suspected criminal proceeds, frozen more than $12 million and helped identify more than 20,000 potential victims across multiple jurisdictions.
Crypto fraud is often cross-border, rapid and highly coordinated. Operation Atlantic focused on “approval phishing,” where victims are tricked into granting bad actors access to their crypto wallets.
Payward has a long-standing commitment to supporting law enforcement in the fight against financial crime. Operation Atlantic is an example of Payward’s continued collaboration across jurisdictions.
As part of the operation, Payward:
- Identified customers who may have been affected and took proactive steps to inform and protect them
- Responding to law enforcement requests, providing data to support active investigations
- Team members deployed on site to the NCA’s London headquarters, working directly alongside investigators and other industry partners throughout the operation.
Operation Atlantic demonstrates how collaboration between law enforcement and industry can reduce harm in real time. By combining law enforcement authorities, industry data and technical capabilities, and cross-border coordination, participants were able to help disrupt fraud networks and prevent further losses.
Payward was one of several industry partners involved in the operation, alongside other exchanges and financial institutions. These partnerships are essential to combating the scale and speed of modern financial crime.
What this means for customers
While operations like this can mitigate losses, they also highlight an important reality: once funds are transferred to wallets controlled by fraudsters, recovery is often difficult and, in many cases, impossible.
Approval phishing scams rely on users unknowingly granting access to their wallets, often through malicious websites or apps. Staying vigilant and checking platforms before interacting with them remains essential.
If you think you have been targeted or affected by a scam:
- Review your wallet activity for unknown transactions
- Avoid interacting with unknown links or platforms
- Report the incident to your local law enforcement authority
- Contact Kraken Support for assistance with your account
Participation in operations like Atlantic reflects the trust placed in Payward as a responsible and cooperative partner. Being invited to participate in ongoing efforts strengthens this relationship.
Protecting customers and maintaining the integrity of the crypto ecosystem is not just a regulatory obligation. This is an essential part of how Payward works.
