President Donald Trump planned to highlight his administration’s crypto scam crackdown at a White House cybercrime event on Wednesday, October 21, according to a White House official. The planned presentation would focus on U.S. efforts to disrupt foreign criminal organizations targeting Americans.
Key Takeaways
- The administration says law enforcement has halted about $833 million in crypto tied to overseas scams.
- Authorities have seized 503 fraudulent crypto websites and notified almost 9,000 Americans that they were being victimized, an official said.
- The White House event was expected to address efforts to seize funds and shut down transnational scam operations.
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Crypto scam crackdown figures frame planned event
The administration’s enforcement totals were central to the planned discussion. According to the official, the website seizures occurred under the watch of the Homeland Security Task Force, alongside efforts to interrupt fraudulent crypto transactions and alert victims.
Foreign scam centers remain the focus
The Treasury Department announced in November the establishment of a multi-agency Scam Center Strike Force. That effort pursued so-called pig-butchering schemes coordinated by well-funded organized-crime operations in countries including Burma, Cambodia, Laos and the Philippines.
Since last year, the U.S. has also imposed sanctions intended to isolate the websites and infrastructure supporting such attacks.
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