President Donald Trump is hosting a White House event on October 21, 2026, to address the rise of foreign-based cryptocurrency scams. The meeting will include key officials, such as FBI Director Kash Patel, Attorney General Todd Blanche, and the Secretaries of Homeland Security and Defense.
The initiative follows a significant increase in cybercrime. According to FBI data, internet scam complaints exceeded 1 million in 2025, representing a 17% rise compared to the previous year. Financial losses reported by Americans related to crypto fraud reached over $11 billion in 2025, with investment schemes accounting for $7.2 billion of that amount.
The administration's current focus builds upon an executive order signed on March 6, 2026, which mandates that federal agencies prioritize the prosecution of international fraud networks, particularly those operating out of Southeast Asia. Recently, on October 14, 2026, authorities successfully dismantled 241 fraudulent websites connected to an international crypto investment network.
