Canadian police and Chainalysis solved a major crime worth $25 million
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Johny Smith
2025/01/22
3 mins read
In the Canadian city of Delta, with a population of about 100 thousand people, Operation Spincaster was successfully completed. This is a joint project between Chainalysis and local police aimed at combating crypto fraud. Thanks to the participation of 7 law enforcement agencies and 2 cryptocurrency exchanges, it was possible to uncover a large-scale deception scheme.
During the operation, more than 1,100 victims of fraud were identified, including a significant number of Canadians. 240 crypto addresses were examined, where losses amounting to over $25 million were discovered. Also during the investigation, it was possible to return 1.2 million that had previously been frozen in one of the suspicious wallets.
In addition, during the operation, law enforcement officers were able to track 70 transactions totaling 800 thousand that were sent through Canadian exchanges. These trading platforms are currently notifying those affected and working on refunds.
The success of the operation is attributed to the cooperation of law enforcement agencies and the use of advanced blockchain analysis tools. Project participants include the Royal Canadian Mounted Police, Vancouver Police, British Columbia Securities Commission and other organizations.
Operation Spincaster demonstrates the importance of collaboration between the public and private sectors. Chainalysis continues to work to identify fraudulent schemes and improve security in the crypto industry.
Experts advise users to be vigilant. Before investing in any projects, investors should carefully check their reputation. You should never approve transactions or links without understanding their origin. If you have the slightest doubt, it is better to seek help from reliable specialists.
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