President Trump to Highlight Federal Crypto Scam Crackdown as FBI Complaints Surge 17%
Trump administration officials will cite more than 1 million FBI scam complaints last year as they unveil new steps against crypto fraud and impersonation schemes.
- On Wednesday, President Donald Trump and senior cabinet officials will discuss efforts to disrupt foreign fraud operations at a cybersecurity event in Washington, highlighting seizures of fraudulent crypto investment websites and impersonation scam prevention.
- The FBI reported over 1 million internet scam complaints last year, a 17% increase from 2024, with cyber-enabled crime losses approaching $21 billion, including more than $11 billion in cryptocurrency-related complaints.
- Federal agencies previously restrained more than $701 million in cryptocurrency connected to international scam operations in April, while authorities dismantled recruitment channels and more than 500 fake investment websites.
- Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth, and Attorney General Todd Blanche are expected to attend the event to discuss government disruption of overseas scam infrastructure.
- Trump's actions follow a March executive order directing federal agencies to strengthen responses to transnational cybercrime, requiring identification of criminal organizations and coordination through the National Coordination Center.
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Trump to tout crackdown on overseas crypto scams - Regional Media News
By Courtney Rozen WASHINGTON, Oct 21 (Reuters) - President Donald Trump will highlight his administration's efforts on Wednesday to crack down on foreign criminal networks that lure Americans into fraudulent crypto investments, a White House official told Reuters, as part of a broader event about [...]
Trump to tout crackdown on overseas crypto scams
WASHINGTON, Oct 21 - President Donald Trump will highlight his administration’s efforts on Wednesday to crack down on foreign criminal networks that lure Americans into fraudulent crypto investments, a White House official told Reuters, as part of a broader event about cyber crime prevention. Read more at straitstimes.com.
Crypto Scams Cost Americans $11B As Trump Steps Up Action
President Donald Trump plans to highlight a federal crackdown on overseas cryptocurrency fraud at a White House cybersecurity event on October 21. The FBI reported more than $11 billion in cryptocurrency-related losses in 2025. Federal agencies have also seized fraudulent investment websites and cryptocurrency linked to international scam networks.
Trump To Highlight Crackdown On Overseas Crypto Scams
President Donald Trump will use a White House event on Wednesday to spotlight his administration’s push against foreign criminal networks that lure Americans into fake crypto investments, a White House official told Reuters. The remarks are part of a broader event on cyber crime prevention. Trump and members of his cabinet plan to point to the government’s seizure of fraudulent crypto investment websites and its work to shut down online imperson…
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