BusinessPostCorner.com
No Result
View All Result
Tuesday, May 13, 2025
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
BusinessPostCorner.com
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources
No Result
View All Result
BusinessPostCorner.com
No Result
View All Result

Secret Service & Canada Target $4.3 M Ethereum Phishing Scam in “Operation Avalanche”

April 16, 2025
in Crypto News
Reading Time: 3 mins read
A A
0
Secret Service & Canada Target .3 M Ethereum Phishing Scam in “Operation Avalanche”
ShareShareShareShareShare

Key Takeaways:

  • U.S. Secret Service partnered with Canadian law enforcement and financial regulators to combat an Ethereum blockchain-based scam.”
  • The operation targeted an approval phishing scam responsible for defrauding victims of approximately $4.3 million, by identifying compromised wallets and warning affected users.
  • The initiative showcases how international cooperation and blockchain forensics can help disrupt transnational crypto scams.

In an April 16 press release, the U.S. Secret Service collaborated with Canadian officials on a project dubbed “Operation Avalanche” with the goal of identifying compromised wallets on the Ethereum blockchain.

U.S. Secret Service Tackles Crypto Crime

Working with the BC Securities Commission, forensic analysts with the United States Secret Service Washington Field Office worked to warn crypto fraud victims about the loss and potential loss of their assets due to an ongoing approval phishing scam.

According to the press release, “Operation Avalanche” utilized “securities regulators, multiple Canadian police agencies, crypto trading platforms and a blockchain analysis firm” in its efforts to curb crypto crime and assist victims affected by the $4.3 million scheme.

Breaking:
U.S. Secret Service & Canadian authorities just cracked down on an Ethereum “approval phishing” scam in Operation Avalanche.

They traced wallets that lost $4.3M to the scheme.

Scammers beware — the blockchain never forgets.#Ethereum #CryptoSecurity #Web3 #ScamAlert pic.twitter.com/u1muN872aD

— Crypto Navigator (@krypto_navigatr) April 16, 2025

“Our analysts from the Washington Field Office provided Canadian officials with the help needed to disrupt this scheme and prevent bad actors from continuing to receive stolen funds,” said WFO Special Agent in Charge Matt McCool.

“We will continue working with Canadian law enforcement and financial partners to identify and seize stolen assets to return to victims,” he added.

Canadian And U.S. Officials Counter Ethereum Scam

According to blockchain analytics firm Chainalysis, Approval Phishing occurs when a scammer convinces a victim to sign illicit blockchain transactions, giving the crypto fraudster access to the user’s wallet.

From there, the scammer can send and drain coins from the victim’s account – in this case, on the Ethereum blockchain.

“The operation is an example of how the U.S. Secret Service’s investigative expertise, resources, and long-standing global law enforcement partnerships can aid in disrupting cryptocurrency scams orchestrated by transnational organized crime,” the press release continued.

The post Secret Service & Canada Target $4.3 M Ethereum Phishing Scam in “Operation Avalanche” appeared first on Cryptonews.


Credit: Source link

ShareTweetSendPinShare
Previous Post

Russian Government to Add Crypto-related Clauses to Criminal Code

Next Post

Why China curbing rare earth exports is a huge blow to the US

Next Post
Why China curbing rare earth exports is a huge blow to the US

Why China curbing rare earth exports is a huge blow to the US

US and China to launch formal trade talks

US and China to launch formal trade talks

May 7, 2025
Inside the Lyft CEO’s plan to capitalize on the boomer economy with 4 main features

Inside the Lyft CEO’s plan to capitalize on the boomer economy with 4 main features

May 7, 2025
US and China set to start trade talks this week

US and China set to start trade talks this week

May 6, 2025
In the blogs: Start to finish

In the blogs: Start to finish

May 7, 2025
‘Size does not matter’: Bhutan’s tiny sovereign wealth fund banks on green energy and Bitcoin

‘Size does not matter’: Bhutan’s tiny sovereign wealth fund banks on green energy and Bitcoin

May 12, 2025
US and UK seal first deal of Donald Trump’s trade war

US and UK seal first deal of Donald Trump’s trade war

May 9, 2025
BusinessPostCorner.com

BusinessPostCorner.com is an online news portal that aims to share the latest news about following topics: Accounting, Tax, Business, Finance, Crypto, Management, Human resources and Marketing. Feel free to get in touch with us!

Recent News

Proxy adviser ISS backs Elliott in fight against Phillips 66

Proxy adviser ISS backs Elliott in fight against Phillips 66

May 13, 2025
What’s your chronotype? | Fortune Well

What’s your chronotype? | Fortune Well

May 12, 2025

Our Newsletter!

Loading
  • Contact Us
  • Privacy Policy
  • Terms of Use
  • DMCA

© 2023 businesspostcorner.com - All Rights Reserved!

No Result
View All Result
  • Home
  • Business
  • Finance
  • Accounting
  • Tax
  • Management
  • Marketing
  • Crypto News
  • Human Resources

© 2023 businesspostcorner.com - All Rights Reserved!