Trump, FBI address $7.2 billion US crypto scam losses, spotlight World Liberty Financial

US President Donald Trump plans to draw national attention to a federal crackdown on international cryptocurrency scams targeting American citizens, as authorities respond to a surge in reported digital asset fraud losses. Trump is scheduled to join senior cabinet officials at an October 21 White House event focused on recent efforts to dismantle fraudulent overseas cryptocurrency investment websites and tackle online impersonation schemes. Sources familiar with the matter indicated that authorities will discuss both the recovery of assets and measures to deter similar criminal activity in the future. This initiative continues a series of federal investigations into organized scam networks, with particular scrutiny on criminal operations based in Southeast Asia. Officials have targeted professional networks using sophisticated social engineering tactics to defraud US residents.

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