COINTURK NEWSCOINTURK NEWSCOINTURK NEWS
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Search
© 2024 COINTURK NEWS. All Rights Reserved.
Reading: Authorities Collaborate to Stop Ethereum Fraud Ring, Saving Millions
Share
Languages
  • TürkçeTürkçe
  • EspañolEspañol
Font ResizerAa
COINTURK NEWSCOINTURK NEWS
Font ResizerAa
Search
  • Real-Time News Feed
  • Bitcoin
  • Altcoin
  • Ethereum
  • Technology News
  • Advertise
  • Contact
  • TURTURTUR
  • ESESES
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
COINTURK NEWS > Cryptocurrency Security > Authorities Collaborate to Stop Ethereum Fraud Ring, Saving Millions
Cryptocurrency Security

Authorities Collaborate to Stop Ethereum Fraud Ring, Saving Millions

In Brief

  • The collaboration prevented a significant loss of funds for Ethereum users.

  • Authorities utilized advanced techniques to identify and warn potential victims.

  • International cooperation proved essential in combating digital fraud effectively.

Ömer Ergin
Ömer Ergin 3 weeks ago
Share
SHARE

The U.S. Secret Service and Canadian authorities successfully thwarted a fraudulent operation targeting Ethereum $2,336 users. According to reports, they prevented a total loss of $4.3 million.

Contents
Crypto Fraud OperationInternational Cooperation

Crypto Fraud Operation

The operation, named Avalanche, saw U.S. security forces collaborating with Canadian regulatory bodies. Securities commissions, police units, cryptocurrency platforms, and blockchain analysis companies contributed to the process. The aim was to identify transactions in suspicious crypto wallets and prevent further losses.

The fraudulent technique, known as “approval phishing,” involves users clicking on misleading links to approve transactions within their wallets. This enables attackers to gain access to victims’ wallets and attempt to withdraw funds. Authorities identified at-risk users and sent warning messages to alert them.

“The operation brought together various sectors in the U.S. and Canada.” – Special Agent Matt McCool from the U.S. Secret Service.

Daily, countless investors incur massive losses due to approvals granted for malicious contracts. The close monitoring and cooperative efforts of the U.S. Secret Service demonstrate that these losses can be significantly mitigated. Numerous countries are striving to protect potential victims by alerting them before and during fraudulent incidents. This has evolved into a digital patrol widely applied to prevent not only crypto-related scams but also other digital fraud cases.

International Cooperation

International coordination played a crucial role in preventing similar fraudulent attempts in the digital landscape. The contribution of Canadian regulatory agencies was effective in identifying suspicious wallets and informing victims. The Ontario Securities Commission also took part in the efforts to prevent potential increases in losses.

“This allowed us to warn victims and prevent further losses.” – Bonnie Lysyk, Executive Vice President of the Ontario Securities Commission.

The operation highlighted the importance of international cooperation in combating fraud methods on digital platforms. Authorities continue to implement measures aimed at reducing criminal activities by utilizing technological infrastructure. Ongoing education and monitoring mechanisms are recommended to ensure user safety.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

You Might Also Like

Crypto Market Faces Severe Security Breaches in April

Catch Fraudsters with Revealing Identity and Background Lies

Hackers Breach TRON DAO’s Official Account with Ingenious Tactics

Ledger Alerts Users About Deceptive Letters Targeting Wallet Security

Investigative Insights Expose Shocking Bitcoin Theft

Ömer Ergin 17 April, 2025 - 3:10 am 17 April, 2025 - 3:10 am
Share This Article
Facebook Twitter
Share
Previous Article Shiba Inu Signals Potential Price Surge Soon
Next Article Cryptocurrency Ecosystem Sees Surprising Growth Despite Market Challenges
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Stay Connected

8.1k Like
21.1k Follow
1.1k Follow

Latest News

Coinbase Launches Round-the-Clock Bitcoin Futures in the US
Cryptocurrency News
Goldman Sachs Embraces Cryptocurrency with New Investments
Cryptocurrency News
Trump Shakes Up Washington with Determined Cryptocurrency Moves!
Cryptocurrency Law
U.S. Markets Fuel Surge in Cryptocurrency Values
Cryptocurrency News
//

COINTURK was launched in March 2014 by a group of technology enthusiasts who believe that Bitcoin will be as important as the internet in the world of the future thanks to the amazing technology underlying it.

CRYPTOCURRENCY LIVE PRICES

  • Bitcoin (BTC) Live Price
  • Ethereum (ETH) Live Price
  • Ripple (XRP) Live Price
  • Solana (SOL) Live Price
  • Dogecoin (DOGE) Live Price
  • Cardano (ADA) Live Price
  • Chainlink (LINK) Live Price

OUR PARTNERS

  • COINMARKETCAP
  • COINGECKO
  • BITCOINHABER
  • BH NEWS
  • 21MILYON
  • NEWSLINKER

OUR COMPANY

  • About Us
  • Cookie Policy
  • Advertising
  • Contact
COINTURK NEWSCOINTURK NEWS
Follow US
© 2025 BLOCKCHAIN Information Technologies. >> COINTURK NEWS
Powered by LK SOFTWARE
Welcome Back!

Sign in to your account

Lost your password?