According to Odaily, blockchain security firm Chainalysis has revealed the outcomes of its Spincaster operation, an initiative aimed at combating 'authorized phishing' scams. Since May 2021, these attacks have resulted in $2.7 billion in cryptocurrency losses. Chainalysis stated that the Spincaster operation, which began in March 2024 in collaboration with the Calgary Police in Canada, has now expanded globally. The operation involved a series of actions from April to June across six countries, engaging 12 public sector agencies and 17 cryptocurrency exchanges. During these operations, Chainalysis identified over 7,000 crime-related leads. From this information, Chainalysis was able to trace the flow of funds, shut down crime-related accounts, seize funds, and develop intelligence to better prevent potential scams. In one of the operations, participants were able to directly contact victims and warn them of the threat. This intervention allowed potential victims to revoke authorizations, preventing cryptocurrency losses worth hundreds of thousands of dollars.