Trump to throw spotlight on overseas crypto abuses at White House event
Source: CoinDesk ·
From the source
The president is hosting a cybercrime event that will highlight U.S. authorities' efforts to crack down on crypto scams run by foreign criminal organizations. 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. The administration says its law enforcement agencies have halted about $833 million in crypto connected to the overseas scams, and 503…