Trump highlights $1 billion in scam funds frozen as DOJ expands cyber fraud initiative
President Donald Trump announced that federal authorities have frozen nearly $1 billion in scam-linked funds during a White House roundtable on cybercrime, as the Department of Justice rolls out a nationwide initiative against overseas fraud networks.
At an October 21 White House cybercrime roundtable, President Donald Trump stated that his administration has frozen nearly $1 billion of "cybercurrency" tied to foreign scammers. According to a post by the White House's Rapid Response account, Trump also claimed federal actions have prevented at least $1.6 billion in losses this year and shut down more than 500 fraudulent websites. Reuters reported that Trump said federal agents alerted over 10,000 Americans targeted by scam rings, while FBI Director Kash Patel announced the bureau had dismantled 20 scam compounds worldwide.[2][3]
Attorney General Todd Blanche used the event to announce a newly established cyber-enabled scam initiative led by the Justice Department's Criminal Division. Blanche explained that because of the scale of foreign scams, the response could no longer be left to individual jurisdictions, noting the initiative is deploying dozens of prosecutors across all 94 U.S. Attorneys' offices.[2]
The administration's nearly $1 billion estimate aligns closely with data from the Justice Department's Scam Center Strike Force, which listed $938,460,156.82 in restrained cryptocurrency as of October 15. The strike force was launched in 2025 by the U.S. Attorney's Office in Washington, D.C., alongside the Criminal Division, the FBI, and the Secret Service to target crypto fraud originating from Southeast Asia. Meanwhile, the FBI's Internet Crime Complaint Center recorded more than 1 million complaints in 2025, a roughly 17% increase from 859,532 in 2024.[1][2]
Key facts
- President Trump stated that his administration had frozen nearly $1 billion of "cybercurrency" tied to foreign scammers.
- The White House claimed the government prevented at least $1.6 billion in losses this year and shut down more than 500 fraudulent websites.
- Attorney General Todd Blanche announced a new nationwide DOJ cyber-enabled scam initiative deploying prosecutors across all 94 U.S. Attorneys' offices.
- FBI Director Kash Patel reported that the FBI has dismantled 20 scam compounds around the world.
- The Justice Department's Scam Center Strike Force page listed $938,460,156.82 in restrained cryptocurrency as of October 15.
- The FBI's Internet Crime Complaint Center logged over 1 million complaints in 2025, up about 17% from 859,532 in 2024.
Sources · 3 sources
- CN
crypto.news@cryptodotnewsPost on X ·
JUST IN: President Trump set to announce a crackdown on overseas crypto scams The White House says the administration will highlight seizures of fraudulent crypto investment websites and efforts to stop impersonation scams, as the FBI reported over 1 million internet scam complaints last year, up 17% from 2024.
Open source - UN
UnchainedArticle ·
Trump Says Nearly $1 Billion in Scam-Linked Crypto Is Frozen as DOJ Goes Nationwide President Donald Trump said on Oct. 21 that his administration had “frozen nearly $1B of cybercurrency tied to foreign scammers,” using a White House roundtable on cybercrime to promote its push against overseas fraud rings that target Americans. Trump also claimed the government had prevented at least $1.6 billion in losses this year and had “shut down 500+ fraudulent websites,” according to a post from the White House’s Rapid Response account. At the event, he said federal agents had been able to warn “over 10,000 Americans targeted for victimization,” Reuters reported . FBI Director Kash Patel said the bureau had dismantled 20 scam compounds around the world, according to the same report. Attorney General Todd Blanche said the Justice Department is no longer leaving these cases to individual U.S. Attorneys’ offices. “Because of the magnitude of this issue, it demands a nationwide response,” he said in remarks the department shared on X . He described a “newly established cyber-enabled scam initiative,” run by the Criminal Division, that “deploys dozens of prosecutors” across all 94 of those offices. The White House post did not say where its “nearly $1B” figure came from. The Justice Department’s Scam Center Strike Force lists $938,460,156.82 in cryptocurrency restrained, on a page last updated Oct. 15. That number counts crypto held back by authorities, which is not the same as money paid back to victims. The strike force was set up in 2025 by the U.S. Attorney’s Office in Washington, D.C., together with the Criminal Division, the FBI and the Secret Service, with a focus on crypto fraud run out of Southeast Asia. The roundtable came less than two weeks before the Nov. 3 midterm elections , with early voting already open in many states. Trump’s Executive Order 14390 , signed March 6, told the attorney general to “continue to prioritize prosecutions” of people engaged in cyber-enabled fraud, including scam centers. White House deputy chief of staff Stephen Miller said at the roundtable that Trump had “effectively declared cyber warfare against the cyber criminals.” The FBI’s Internet Crime Complaint Center received more than 1 million internet-crime complaints in 2025, up about 17% from the 859,532 it logged in 2024 . Get Unchained’s crypto news in your inbox with the free Unchained Daily newsletter . Related Listen: Is THORChain a Money Laundering Service? A Chinese Crime Boss Says Yes The post Trump Says Nearly $1 Billion in Scam-Linked Crypto Is Frozen as DOJ Goes Nationwide appeared first on Unchained .
Open source - CO
Cointelegraph@CointelegraphPost on X ·
🇺🇸 UPDATE: President Trump never mentioned “crypto” at the White House cybercrime roundtable, instead referring to $1 billion frozen from foreign scammers as “cybercurrency.” https://t.co/zloxDeUQtz
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