$ETH

🔐 Operation: Ethereum “Approval Phishing” Sting

In April 2025, the U.S. Secret Service, alongside Canadian police, successfully disrupted a major “approval phishing” scam targeting Ethereum users.

Approval phishing tricks victims into granting malicious smart contracts the ability to move their tokens—then siphons funds away.

How it worked:

1. Blockchain analysis tools and collaborating crypto platforms identified suspicious wallet activity.

2. Authorities traced compromised Ethereum addresses with high-value tokens.

3. They warned victims and used legal mechanisms to freeze or recover assets.

4. The operation was a broader push under frameworks like “Operation Spincaster”, which also targeted romance scams and pig-butcher phishing globally.

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🧭 Why It Matters

Phishing prevention: Approval phishing is one of the most common and damaging DeFi scams.

Public-private partnership: Showcases collaboration between law enforcement and crypto-industry analytics like Chainalysis.

Victim protection: Proactive engagement prevented significant losses and set a precedent for recovery efforts.