Operation Atlantic: How Coinbase, the Secret Service, and the NCA Froze $12M in Stolen Crypto in One Week
In January 2026 alone, phishing attacks drained more than $311 million from crypto users. By the time most victims realized their wallets had been compromised, the funds were already cascading through mixers and cross-chain bridges. For years, law enforcement played catch-up — investigating crimes months after they occurred, recovering pennies on the dollar.
Then came Operation Atlantic.
Launched on March 16, 2026, from the UK National Crime Agency's London headquarters, Operation Atlantic brought together the US Secret Service, Canadian law enforcement, blockchain analytics firms Chainalysis and TRM Labs, and crypto exchanges Coinbase and Kraken for an unprecedented week-long sprint. The result: $12 million frozen, $45 million in fraud mapped, 20,000 victim wallets identified across 30 countries, and over 120 scam domains disrupted — all within seven days.
This was not a typical investigation. It was a proof of concept that public-private partnerships can shift crypto security from reactive forensics to real-time intervention.