Law enforcement agencies in the United States and Canada have seized more than $300 million worth of cryptocurrency connected to cybercrime and online fraud.
The large-scale operation involved the Ontario Provincial Police (OPP), the British Columbia Securities Commission (BCSC), and several international partners.
The investigations, named Project Atlas and Operation Avalanche, used advanced blockchain analysis tools from Chainalysis to track suspicious transactions. With help from Tether and T3 Federal Credit Union, authorities were able to freeze and black xeist more than $50 million in USDT (Tether), stopping scammers from moving or cashing out the stolen funds.
Officials said that over the past six months, they identified $74.3 million in losses from various online scams across 14 countries. The joint effort shows how cross-border cooperation and blockchain technology can play a key role in fighting cybercrime and protecting victims.
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