Chainalysis-led Operation Spincaster, which has encompassed multiple nations, includes this discovery.
Financial Review has recently reported that hackers have compromised thousands of wallets belonging to Australian cryptocurrency holders.
The most recent discovery is a component of Operation Spincaster, a global initiative to combat cryptocurrency fraud, with a particular emphasis on “approval phishing” schemes.
Over the past two years, there has been a significant increase in the number of approval phishing schemes, resulting in the theft of hundreds of millions of dollars in crypto funds. The scheme entails deceiving the prospective victim into authorizing permission to transmit specific tokens.
Prominent blockchain expert Chainalysis initiated the large-scale operation to “prevent” and “disrupt” substantial losses due to crypto fraud through public-private collaboration.
The operation included the proactive identification of the affected wallets. Notably, the operation involved the direct contact of one victim of an ongoing fraud.
The operation encompasses 12 public sector agencies in the United States, Spain, Australia, and other countries. Additionally, the operation encompassed as many as 17 crypto exchanges.
Chainalysis has been collaborating with government agencies for an extended period of time to address the issue of crypto crime. In April, Chainalysis and the Canadian police collaborated to establish an investigative training center.
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