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US Secret Service Seizes $12M in Operation Atlantic Crypto Raid
Federal agents disrupted 120 illicit domains to dismantle global fraud infrastructure. Expect increased compliance pressure on exchanges as tactics evolve.
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A Multi-Front Assault on Cyber-Enabled Financial Crime
In a decisive move to curb the proliferation of digital asset-based financial crimes, the United States Secret Service (USSS) has successfully executed “Operation Atlantic,” a coordinated enforcement action that has resulted in the seizure of $12 million in cryptocurrency. The operation, which targeted sophisticated international fraud rings, also successfully disrupted more than 120 cryptocurrency domains that served as the backbone for illicit fund transfers and victim solicitation.
This sweep represents a significant escalation in the federal government’s efforts to dismantle the infrastructure supporting global cyber-fraud. By targeting the domains themselves, the Secret Service has effectively severed the primary communication and transaction channels used by bad actors to operate with relative anonymity across borders.
The Anatomy of the Fraud
The domains seized during Operation Atlantic were not merely passive websites; they were active hubs for what federal investigators describe as highly structured fraud operations. These malicious entities leveraged these platforms to target unsuspecting victims, funneling stolen assets through complex cryptocurrency pathways designed to obfuscate the origin of funds.
“The Secret Service is committed to disrupting the infrastructure that facilitates these crimes,” the agency stated in its release, emphasizing the necessity of cutting off the technological lifeblood of these criminal enterprises. By freezing $12 million in assets, authorities have successfully clawed back significant capital that would otherwise have been laundered through decentralized mixers or off-shore exchanges, making recovery virtually impossible.