Trump to throw spotlight on overseas crypto abuses at White House event — SkimNews
Get the Finance newsletter
Daily finance — markets, central banks, M&A, the prints that move money. Free.
- Trump is hosting a Wednesday White House cybercrime event meant to spotlight his administration's pursuit of overseas crypto-fueled criminal operations that have stolen tens of billions from U.S. citizens.
- U.S. law enforcement halted approximately $833 million in fraudulent crypto transactions, seized 503 fraudulent crypto websites under the Homeland Security Task Force, and notified nearly 9,000 U.S. citizens that they were being victimized.
- The Department of the Treasury announced in November a multi-agency Scam Center Strike Force targeting 'pig butchering' operations run by organized crime in Burma, Cambodia, Laos, and the Philippines.
- The U.S. government has issued a series of sanctions since last year aimed at walling off the websites and infrastructure behind transnational cyber-scam attacks.
- Trump faces political liability with midterm elections approaching in roughly two weeks, as digital assets have fueled self-dealing accusations against him and his administration.
Why it matters: The White House is showcasing approximately $833 million in halted fraudulent crypto and 503 seized scam websites to brand the administration as a cybercrime fighter with midterms two weeks out — a message complicated by the fact that Trump's own crypto ventures have drawn self-dealing accusations from political opponents.
Ask SkimNews
