Trump to Highlight Federal Efforts Against Crypto Scams

President Donald Trump was expected to use an October 21 White House event to highlight federal efforts against overseas cryptocurrency investment scams targeting Americans, according to a White House official. The event was billed as part of a broader cybercrime-prevention effort, with officials expected to discuss fraudulent investment websites and online impersonation scams. The supplied reporting does not establish what was ultimately announced at the event. The official said Trump and cabinet members would discuss efforts to disrupt foreign criminal networks that lure people into fake crypto investments, including government actions involving scam websites. Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth and Attorney General Todd Blanche were expected to attend. The planned focus comes as the FBI’s 2025 Internet Crime Report recorded 1,008,597 internet-scam complaints, up from 859,532 in 2024, an increase of about 17%. The report put cryptocurrency-related losses at more than $11 billion for 2025. One account of the report specified approximately $11.4 billion in crypto-related losses, including $7.2 billion attributed...