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Trump says White House cybercrime event to focus on overseas crypto scams

President Donald Trump was due to highlight his administration's crackdown on crypto fraud run from abroad at a White House cybercrime event, a White House official said.

Why it matters: The event sets out how US authorities are seizing funds and shutting scam infrastructure, a focus for readers tracking crypto crime and enforcement.

InvestIn.News NewsDesk · 1 min read
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Picture from CoinDesk for: Trump says White House cybercrime event to focus on overseas crypto scams
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Original reporting: Jesse Hamilton, CoinDesk

Key points

  • US law enforcement has halted about $833m in crypto tied to overseas scams, an official said
  • 503 fraudulent crypto websites have been seized under the Homeland Security Task Force
  • The Treasury formed a multi-agency Scam Center Strike Force in November targeting "pig butchering" in Burma, Cambodia, Laos and the Philippines

President Donald Trump planned to use a White House cybercrime event to spotlight his administration's campaign against overseas crypto scams, according to a White House official. The event was set for a Wednesday, CoinDesk reports.

The official said US law enforcement has halted about $833m in crypto connected to the overseas operations. Under the Homeland Security Task Force, 503 fraudulent crypto websites have been seized, and almost 9,000 US citizens have been told they are being victimised.

Political backdrop

The administration points to multinational cartels running scam centres that use relationship scams, phishing and ransomware, and says its tactics for seizing funds and shutting the operations down would be discussed. In November, the Department of the Treasury announced a multi-agency Scam Center Strike Force aimed at so-called "pig butchering" run from Burma, Cambodia, Laos and the Philippines, and the US has issued a series of sanctions since last year.

The event comes as digital assets feature in self-dealing accusations against Trump and his administration ahead of congressional midterm elections in a couple of weeks.

Read the full story on CoinDesk

Live updates on NewsFeeds:AltcoinsDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of CoinDesk’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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