Trump administration highlights crackdown on overseas crypto scams at White House event

The Trump administration used a White House event to spotlight its crackdown on overseas crypto scams, citing the seizure of fraudulent investment websites and actions against online impersonation schemes. In 2025, Americans filed over one million internet scam complaints, with crypto fraud accounting for over $11.366 billion in losses, making it the costliest category. The FBI attributed much of the activity to criminal enterprises in Southeast Asia using trafficked victims as forced labor. The administration also highlighted Operation Level Up, which saved an estimated $225.8 million by notifying 3,780 victims of active fraud.