Trump highlights crackdown on foreign crypto scams at White House event

The president is set to spotlight federal efforts against overseas fraud networks after Americans reported more than $11 billion in crypto-related losses in 2025 President Donald Trump is set to use the White House stage on October 21, 2026, to talk about crypto scams. Specifically, the overseas kind that drain American bank accounts one fake investment opportunity at a time. Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth, and Attorney General Todd Blanche are all expected to attend. The event centers on online impersonation scams, many of which are run by foreign criminal networks. These operations typically pose as someone trustworthy, build a relationship with a target, and then steer that person toward a crypto “investment” that exists mostly on a screen.

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