$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.