Australian police have joined a global campaign to combat cryptocurrency scams, particularly "approval phishing" scams, which have resulted in over $4 billion in losses since May 2021. Operation Spincaster, led by the Australian Federal Police's Joint Policing Cybercrime Coordination Centre (JPC3) and Chainalysis, identified over 2000 compromised crypto wallets in Australia. The operation includes international collaboration and training to trace stolen funds and detect ongoing scam attempts.