Trump to throw spotlight on overseas crypto abuses at White House event

President Donald Trump planned to put special focus on his administration's efforts against overseas crypto-fueled criminal operations at a Wednesday event on cybercrime, according to a White House official. Crypto-related scams have stolen tens of billions from U.S. citizens, and Trump was set to highlight how much his administration is targeting and disrupting the transnational organizations behind it. Multinational criminal cartels have set up elaborate scam centers designed to steal money through relationship scams, phishing campaigns, ransomware attacks and other fraudulent means, and the official said that the U.S. strategies to seize funds and shut down the operations will be discussed.

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