President Donald Trump is set to promote his administration's crackdown on overseas criminal networks that lure Americans into fraudulent crypto investments at a White House event on Wednesday, according to a White House official cited by Reuters.

The event will focus on cybercrime prevention, with Trump and members of his cabinet expected to highlight government seizures of fraudulent crypto investment websites and efforts to combat online impersonation scams. Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth, and Attorney General Todd Blanche are expected to participate.

The announcement comes amid a rise in reported internet scams. Americans submitted more than 1 million complaints to the FBI about internet scams last year, up 17% from 2024, according to an agency report that also recorded the highest losses on record among Americans who filed complaints.

The push unfolds at the same time as the Trump family's continued deep involvement in crypto investment ventures. Reuters reported that the president and his sons increased their family fortune by at least $2.3 billion through their main crypto businesses, while investors they solicited incurred combined losses of $2.3 billion. White House spokeswoman Anna Kelly said in a statement to Reuters that the president and his administration acted in the best interest of the American people.

What the Administration Has Done So Far

On March 6, 2026, Trump signed Executive Order 14390 targeting cybercrime, fraud, and predatory schemes. The order directed federal prosecutors to prioritize cyber-enabled fraud cases and pushed agencies to coordinate their responses to foreign transnational criminal organizations.

On August 12, 2026, Trump issued a National Security Presidential Memorandum establishing a program under which vetted US companies may conduct cyber operations against foreign transnational criminal organizations, under the direction, control, and authority of the US government.

Patrick Witt, an executive director under the President's Council of Advisors for Digital Assets, described the August memorandum as an important step in the broader fight against crypto fraud, positioning it as part of a push to protect American citizens from such schemes. The White House event is expected to bring those policy measures together with the administration's reported seizures and prevention efforts.

The Scale of the Problem

The FBI's Internet Crime Complaint Center recorded approximately $21 billion in reported internet-crime losses in 2025, including more than $11 billion tied to crypto. Crypto investment fraud alone accounted for $7.2 billion.

The Scam Center Strike Force, launched in November 2025, has recovered more than $800 million tied to fraud schemes, according to the Justice Department.

On October 14, 2026, the Brooklyn District Attorney's Office, working with the FBI, disrupted 241 fraudulent domains and 112 servers linked to an international crypto investment-fraud network after a three-year investigation. Prosecutors said the scheme targeted Russian-speaking victims through platforms including Facebook, stole tens of millions of dollars, and that about $300,000 has been recovered so far. The enforcement actions described in the article span federal policy, federal recovery efforts, and local investigations involving international networks.