The U.S. Secret Service, in collaboration with Canadian law enforcement agencies, has disrupted a phishing operation that targeted Ethereum wallet holders, resulting in the loss of $4.3 million. This type of scam, known as approval phishing, deceives users into signing transactions that allow attackers to withdraw funds from their wallets. Dubbed Operation Avalanche, this initiative identified compromised wallets on the Ethereum blockchain and reached out to owners who had been affected. Key participants included the B.C. Securities Commission and various police departments across Canada. The Secret Service's agent, Matt McCool, emphasized their commitment to returning stolen assets to victims. Approval phishing has been notably harmful, with billions reportedly lost over recent years. Such scams are often directed at wealthy individuals in the crypto and NFT spaces, posing a significant risk to their assets.

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