Trump Highlights Crackdown on Global Crypto Scams at White House Cybercrime Event

President Donald Trump is expected to emphasize his administration’s offensive against overseas cryptocurrency-fueled criminal networks during a White House event on cybercrime Wednesday, according to a senior official.

Crypto-related fraud has drained tens of billions of dollars from U.S. citizens. The President plans to detail how federal agencies are targeting and dismantling the transnational organizations responsible. These multinational cartels operate sophisticated scam compounds—often centered in Southeast Asia—that deploy romance scams, phishing operations, ransomware, and other fraud schemes. The official indicated the event would cover U.S. strategies for seizing illicit proceeds and shutting down these infrastructures.

The administration reports that law enforcement has intercepted roughly $833 million in cryptocurrency linked to overseas scams. Under the direction of the Homeland Security Task Force, authorities have also seized 503 fraudulent crypto websites and notified nearly 9,000 U.S. victims that they were being actively targeted.

Last November, the Treasury Department established a multi-agency Scam Center Strike Force to combat “pig butchering” schemes—long-con investment frauds orchestrated by well-funded, organized crime syndicates operating in countries including Burma, Cambodia, Laos, and the Philippines.

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