Cryptoupdated 39m ago2 min read
Trump Highlights U.S. Crackdown on Foreign Crypto Scams at White House Cybercrime Roundtable
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White House cybercrime roundtable to spotlight crackdown on overseas crypto scams. Administration seeks seizures of fraud websites, freezes stolen crypto, returns funds to victims.
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“neither the president nor Attorney General Todd Blanche explicitly used the term ‘cryptocurrency’ or ‘digital assets’”
“The Homeland Security Task Force has restrained approximately $833 million in cryptocurrency tied to overseas scam centers”
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White House roundtable focus
President Donald Trump planned to highlight U.S. efforts to crack down on crypto scams run by foreign criminal organizations at a Wednesday White House cybercrime event, according to a White House official. Under Trump’s watch, U.S. law enforcement has halted about $833 million in fraudulent crypto transactions, and the administration would discuss strategies to seize funds and shut down overseas operations. The administration as described by a White House official targeted transnational groups behind scam centers and fraud schemes, freezing stolen funds before they leave the system, then returning recovered funds to victims.
The event would address U.S. government efforts to seize websites used in investment fraud and would include tackling online identity theft, citing a White House official. Cointelegraph said neither Trump nor Attorney General Todd Blanche explicitly used the term “cryptocurrency” or “digital assets” when discussing the scams affecting many Americans, despite reports before the roundtable signaling a crackdown on foreign crypto scams.
Numbers, websites, and victims
The administration reported that 503 fraudulent crypto websites had been seized under the watch of the Homeland Security Task Force, and officials informed almost 9,000 U.S. citizens that they were being victimized. The Homeland Security Task Force has restrained approximately $833 million in cryptocurrency tied to overseas scam centers and cryptocurrency investment fraud schemes, and authorities seized 503 fraudulent cryptocurrency investment websites. Investigators identified and warned nearly 9,000 Americans who were actively being victimized, preventing an estimated $562 million in losses.
The FBI received more than one million complaints about online fraud in 2025 and the complaints rose by 17% compared with 2024. The Federal Bureau of Investigation reported that Americans had lost $11 billion from scams in 2025 specifically related to digital assets, including through crypto ATMs.
Political scrutiny and next steps
Trump’s personal crypto ties could become a political liability as congressional midterm elections approach, and digital assets took up a prominent role in self-dealing accusations. Trump’s family is tied to several crypto ventures which Trump reported netted him $1.4 billion in 2025, while a Public Citizen report alleged his “schemes” cost investors about $4.7 billion. A Reuters investigation found Trump and his sons earned an increase of at least $2.3 billion in the family’s wealth from their main crypto projects, while investors drawn to those projects suffered losses of the same amount.
The White House press secretary Karine Jean-Pierre rejected criticisms related to the investigation, stressing that all actions taken by Trump and his administration aim to serve the American people. The Department of the Treasury announced it had formed a multi-agency Scam Center Strike Force in November to pursue so-called “pig butchering” coordinated by organized-crime operations in places such as Burma, Cambodia, Laos and the Philippines.