The US Secret Service, in collaboration with Canadian officials, launched ‘Operation Avalanche‘ to target compromised wallets on the Ethereum blockchain.

The operation focused on disrupting an ongoing approval phishing scam, which had already cost victims $4.3 million.

Approval phishing occurs when scammers trick victims into signing illicit blockchain transactions, allowing fraudsters to drain funds from their wallets.

The US Secret Service assisted Canadian officials, helping to disrupt the scam and prevent further losses.

Both US and Canadian authorities have committed to continuing their efforts to identify stolen assets and return them to the victims. The operation highlights the importance of global law enforcement collaboration in combating crypto-related crimes.

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