Trump Targets Crypto Scams – Frozen Funds Aren’t Refunds

Donald Trump is expected to appear at a White House event with FBI Director Kash Patel, Attorney General Todd Blanche, Homeland Security Secretary Markwayne Mullin and Defense Secretary Pete Hegseth. The agenda includes seizures of fraudulent cryptocurrency investment websites and action against impersonation scams, following a March 6 executive order directing federal agencies to prioritize cyber-enabled fraud. The Scam Center Strike Force, launched by U.S. Attorney Jeanine Pirro in Washington in November 2025, had restrained about $938 million as of September. Crypto-related losses reported to the FBI reached about $11.4 billion in 2025; investment fraud made up $7.2 billion of that, and crypto schemes accounted for 72% of 72,984 investment-scam complaints.