Trump to spotlight overseas crypto scams at White House event
White House event to focus on overseas crypto scams
President Donald Trump is set to highlight his administration's efforts against overseas crypto-fueled criminal operations at a White House event on cybercrime, according to a White House official.
The focus is on transnational organizations that run scam centers designed to steal money through methods like relationship scams, phishing campaigns, and ransomware attacks. Crypto-related scams have stolen tens of billions from U.S. citizens, according to the report.
Reported actions by U.S. authorities
- About $833 million in crypto connected to overseas scams has been halted.
- 503 fraudulent crypto websites have been seized under the Homeland Security Task Force.
- Almost 9,000 U.S. citizens have been informed that they are being victimized.
Earlier moves against scam hubs
In November, the Department of the Treasury announced it had formed a multi-agency Scam Center Strike Force to pursue so-called "pig butchering" operations coordinated by organized crime in places such as Burma, Cambodia, Laos, and the Philippines. Since last year, the U.S. has also issued sanctions meant to wall off websites and infrastructure behind such attacks.
Political context noted
As reported, Trump's personal crypto ties may become a political liability as congressional midterm elections approach in a couple of weeks. This is presented as a reported point from the source, not a confirmed effect of the upcoming event.
Sources
Newisty Editorial Team covers technology, cryptocurrency, digital products, online platforms, developer tools and the wider digital economy. Our content is researched from official sources, company announcements, public documentation, market data and other primary or reputable sources. Articles are reviewed and edited before publication for clarity, accuracy and useful context.