The Ontario Provincial Police (OPP) Cyber-Enabled Fraud Team (CEFT), in partnership with law enforcement agencies around the world, has successfully prevented over $70 million in cryptocurrency from being stolen by cybercriminals. Through their initiative, Project Atlas, investigators have also frozen more than $24 million in fraudulent losses linked to cryptocurrency scams.
Project Atlas focused on disrupting organized fraud schemes and raising awareness about the dangers of cryptocurrency investment scams. In the process, the team identified over 2,000 cryptocurrency wallet addresses connected to fraud victims in 14 countries, including Canada, the United States, Australia, Germany, and the United Kingdom.
The initiative was a collaboration between the OPP and several law enforcement partners, including the Royal Canadian Mounted Police (RCMP), the Canadian Anti-Fraud Centre (CAFC), the United States Secret Service (USSS), Ottawa Police Service (OPS), Sûreté du Québec (SQ), and private-sector organizations such as Chainalysis, Ndax, Shakepay, and Coinbase.
Mike Bickerton, Detective Superintendent of the OPP’s Anti-Rackets Branch, emphasized the growing sophistication of cryptocurrency fraud. “Cryptocurrency investment frauds continue to devastate victims in Ontario and around the world. These crimes are becoming more complex each year, using social media ads, fake websites, and technology to deceive victims,” he said. He also urged the public to educate themselves and their loved ones about cryptocurrency scams to help reduce their impact on communities.
Members of the public are encouraged to visit opp.ca/Atlas to learn more about cryptocurrency investment frauds and how to avoid falling victim to these crimes. If someone suspects they have been targeted by fraud or have experienced fraudulent activity, they should report it immediately to local police or the Canadian Anti-Fraud Centre at 1-888-495-8501.
Project Atlas continues to serve as a proactive, victim-centered effort in the fight against cybercrime, protecting individuals from the growing threat of cryptocurrency fraud.
(Written by: Emma Butler)