Chainalysis launched Operation Spincaster in April, which targets “approval phishing” scams through education, tools, and training.
Blockchain security firm Chainalysis has unveiled the results of Operation Spincaster, an initiative designed to combat “approval phishing” scams, a type of attack that resulted in the loss of $2.7 billion in crypto since May 2021.
Chainalysis said Operation Spincaster was a global extension of an operation the firm first conducted with Canada’s Calgary police in March 2024.
The operation involved a series of “operational sprints” across six countries between April and June, involving 12 public sector agencies and 17 crypto exchanges. These sprints saw Chainalysis identify over seven thousand criminal-linked leads.
