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- The Australian Federal Police (AFP) has revealed its dedication to combating crypto frauds
- AFP is currently examining rip-offs impacting over 2,000 wallets connected to Australians
- The over 2,000 wallets owned were found in a current Chainalysis report
The Australian Federal Police (AFP) is dedicated to protecting Australians versus crypto scams by working with blockchain intelligence company Chainalysis. In a statement, the AFP stated it’s prepared to avoid crypto frauds in the nation and teamup with other international law enforcement companies to battle crypto-based criminalactivities worldwide. The AFP’s declaration follows discoveries made by Chainalysis in its Operation Spincaster report, suggesting that law enforcement firms are prepared to work with blockchain companies to curb crypto criminalactivities.
$4 Billion Stollen in Three Years
Operation Spincaster revealed that fraudsters are significantly utilizing the “approval phishing” method where a victim is deceived into authorizing harmful gainaccessto to their wallet. The operation found that the destructive stars had stole over $4 billion for 3 years.
The AFP revealed that it’s currently examining losses sustained by Australians who fell victim to this rip-off and is working to avoid evenmore losses. Chainalysis found that the “approval phishing” approach is m