Trump Administration to Detail Overseas Crypto Scam Crackdown at White House Event

overseas crypto scam crackdown — President Donald Trump is set to highlight his administration’s actions against foreign cryptocurrency fraud networks during a White House event focused on cybercrime prevention on Wednesday.

A White House official told Reuters the event will detail the seizure of fraudulent crypto investment websites and efforts to shut down online impersonation scams. The event will be attended by key cabinet members, including Homeland Security Secretary Markwayne Mullin and FBI Director Kash Patel.

The announcement follows record crypto-related losses reported by the FBI for 2025, totaling over $11.3 billion from more than 180,000 complaints. Investment scams alone accounted for $7.2 billion of that total, with much of the activity traced to organized crime groups in Southeast Asia.

The FBI’s Operation Level Up notified thousands of active scam victims in 2025, preventing an estimated $225.8 million in losses. The administration’s efforts stem from a March executive order directing the Justice Department to prioritize prosecuting online scammers.