U.S. President Donald Trump said on Oct. 21 that his administration has frozen nearly $1 billion in cryptocurrency tied to foreign fraud rings, using a White House roundtable to press a broader campaign against overseas groups targeting Americans. A post from the White House Rapid Response account said the government has prevented at least $1.6 billion in losses this year and shut down more than 500 scam websites. Attorney General Todd Blanche said the Justice Department will no longer leave these cases to individual U.S. attorneys’ offices and is launching a new cyber fraud initiative run by the Criminal Division. Under the plan, dozens of prosecutors will be sent to all 94 offices nationwide. A Justice Department fraud task force page shows that, as of Oct. 15, authorities had seized $938.4 million in cryptocurrency. The task force was established in 2025 and is focused on crypto scams originating in Southeast Asia. The report was cited by Unchained and summarized by Techub.
U.S. President Donald Trump said on Oct. 21 that his administration has frozen nearly $1 billion in cryptocurrency linked to foreign fraud groups, while using a White House roundtable to push action against overseas scam rings targeting Americans.
The White House Rapid Response account said in a post that the government has prevented at least $1.6 billion in losses this year and shut down more than 500 fraudulent websites.
Justice Department launches new nationwide initiative
Attorney General Todd Blanche said the Justice Department will no longer leave such cases to local prosecutors’ offices and announced a new Cyber Fraud Initiative run by the Criminal Division, with dozens of prosecutors being sent to all 94 offices.
A page for the department’s fraud center strike force shows that, as of Oct. 15, authorities had seized $938.4 million in cryptocurrency.
Focus includes scams traced to Southeast Asia
According to the task force page, the unit was established in 2025 and is focused on cryptocurrency scams originating in Southeast Asia.
The item was reported by Unchained and summarized by Techub.
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