Trump targets overseas crypto scams as Americans lose billions

At a White House cybercrime summit, President Donald Trump intends to draw attention to federal operations against fake cryptocurrency investment platforms, with the FBI having logged 1,008,597 complaints and about $21 billion in losses in 2025. Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth and Attorney General Todd Blanche will take part. Cited enforcement includes an October 13 Ghana-Nigeria operation that produced 28 arrests, led to more than 3.7 million accounts and pages being seized, and marked over $11 million in assets for freezing; a Brooklyn-led action seized 241 fraudulent domains and 112 servers. Cryptocurrency was involved in more than half the reported losses.