B.C. operation by police, regulators finds losses of $4-million in assets to crypto fraud

British Columbia’s securities regulator says a recent two-day operation to identify victims of a specific type of cryptocurrency fraud has found 89 people who were drained of more than $4-million in assets.The B.C. Securities Commission says the agency brought together regulators, police, crypto trading platforms and an analysis company in March for “Operation Avalanche,” an initiative to find compromised wallets on a cryptocurrency site where owners may have unknowingly had assets withdrawn by fraudsters.The commission says the operation targeted so-called “approval phishing,” where victims were tricked into giving criminals access to their cryptocurrency wallets, without them knowing they were being robbed.