Rising crypto scams push Canadian agencies to co-ordinate with global partners
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TORONTO – The global nature of cryptocurrency fraud is leading Canadian agencies to increase their co-operation with international partners.
This week, the Ontario Securities Commission and Ontario Provincial Police say they’re building on past co-operation initiatives to try and reduce the harms of crypto investment fraud.
The latest effort, called Operation Atlantic, involves several agencies trying to identify and inform people who may have been tricked into giving access to their crypto assets though what’s called “approval phishing.”
The technique involves criminals using fake pop-ups or alerts that look like they’re coming from trusted apps or services to trick people into giving access to their accounts.
Canadian agencies, which also include the RCMP, are collaborating with the U.S. Secret Service, the UK’s National Crime Agency and the U.K. Financial Conduct Authority to reach out to victims and help them minimize losses.
The latest effort builds on Project Atlas, a 2024 Canadian-led operation hosted by the OPP that targeted international cryptocurrency investment fraud networks.
Jennifer Spurrell, director of the financial crimes services bureau at the OPP said in a news release that such initiatives are needed given the nature of the crimes.
“As fraud becomes increasingly global, this level of collaboration is essential.”
Enforcement agencies say that people who think they may have fallen for such phishing efforts should stop communications with scammers, update wallet passwords or create a new one, revoke token approvals and report the incident to both local police and the Canadian Anti-Fraud Centre.
This report by The Canadian Press was first published March 16, 2026.