Operation Atlantic, a joint US, UK and Canadian operation, froze more than $12 million tied to crypto approval phishing and identified over 20,000 victims. Authorities in the United States, United Kingdom and Canada have frozen millions of dollars tied to crypto scams in a joint enforcement operation called Operation Atlantic. The operation, focused on phishing attacks, took place in March and was coordinated by the UK’s National Crime Agency (NCA), the US Secret Service, the Ontario Provincial Police and the Ontario Securities Commission. Operation Atlantic identified more than 20,000 victims across the US, Canada and the UK, securing and freezing more than $12 million in suspected criminal proceeds, the NCA said Thursday. It also identified “more than $45 million stolen in cryptocurrency fraud schemes,” the agency added. Read more
Bitcoin avoids major volatility after the first of the week's two key US inflation reports, while a trader sees a "new upwards leg" coming for BTC price action. Bitcoin (BTC) circled $71,000 at Thursday’s Wall Street open after US inflation data conformed to expectations. Key points: Bitcoin waits for new catalysts as US PCE inflation data conforms to market expectations. Read more
Hyperliquid data showed a 145 million Fartcoin position unwound across wallets, with the platform redistributing about $849,000 in gains to opposing traders. A trader lost about $3 million after building a large leveraged Fartcoin position on Hyperliquid that unraveled in thin liquidity, triggering the platform’s auto-deleveraging (ADL) mechanism. Hyperliquid data flagged by Lookonchain shows that the trader accumulated about 145 million tokens across multiple wallets before being liquidated. The liquidation redistributed gains to opposing traders, with at least two wallets seeing around $849,000 through ADL. PeckShield said the unwind produced about $3 million in accounting losses and left Hyperliquid’s HLP vault down roughly $1.5 million over 24 hours, though Hyperliquid had not publicly confirmed those figures by publication. Read more
The US Justice Department and commodities regulator asked a federal court to block Arizona’s action against Kalshi, arguing federally regulated event contracts fall under CFTC jurisdiction. The US Department of Justice (DOJ) and Commodities and Futures Trading Commission (CFTC) asked a federal court to block Arizona from enforcing state gambling law against Kalshi’s event contracts, arguing that they fall under the CFTC’s exclusive authority over swaps markets. The Wednesday filing argues that event contracts listed on federally regulated platforms such as Kalshi are swaps under the Commodity Exchange Act and therefore fall within the CFTC’s exclusive jurisdiction. The filing says Arizona’s enforcement effort unlawfully intrudes on the CFTC’s exclusive jurisdiction over federally regulated event-contract markets. Read more