Key Takeaways
- • President Donald Trump is expected to highlight his administration's efforts to crack down on foreign criminal networks that lure Americans into fraudulent crypto investments, at a cybercrime prevention event on Wednesday, according to Reuters.
- • The government's seizure of fraudulent crypto investment websites and actions against online impersonation scams are expected to be showcased alongside Cabinet members.
- • The FBI received more than a million internet scam complaints, with 2025 complaints up 17% from 2024 and reported losses at record levels, per an agency report.
- • California Attorney General Rob Bonta cited $20.9 billion in internet-based scam losses in 2025, including $11.4 billion attributed to cryptocurrency fraud.
- • A Reuters investigation found that Trump and his sons have added at least $2.3 billion to their family fortune through crypto ventures, a fact that sits alongside the administration's enforcement messaging.
Summary
President Donald Trump is expected to use a broader cybercrime prevention event on Wednesday to highlight his administration's campaign against foreign criminal networks that lure Americans into fraudulent crypto investments, according to Reuters. Trump and members of his Cabinet are expected to point to the government's seizure of fraudulent crypto investment websites and its efforts to stop online impersonation scams. Homeland Security Secretary Markwayne Mullin, FBI Director Kash Patel, Defense Secretary Pete Hegseth and Attorney General Todd Blanche are expected to attend, an official said.
The push comes as enforcement agencies report rising volumes of online fraud. Americans have filed more than a million complaints with the FBI about internet scams, and complaints rose 17% in the most recent year compared with 2024, according to an FBI agency report, which also noted record reported losses.
California Attorney General Rob Bonta warned this week that criminals are targeting Generation Z through social media, livestreams and digital investment schemes. Citing figures, Bonta said Americans lost $20.9 billion to internet-based scams in 2025, including $11.4 billion tied to cryptocurrency fraud. He warned that scammers increasingly use AI-generated impersonations, fake investment platforms and malicious software to drain digital wallets, and noted that cryptocurrency lets criminals move large sums remotely, making stolen funds difficult to recover.
The enforcement messaging also intersects with the president's personal crypto activities. Reuters reported that Trump and his sons have added at least $2.3 billion to their family fortune through crypto ventures, a point relevant to how the administration's crypto oversight is perceived.
The push comes as enforcement agencies report rising volumes of online fraud. Americans have filed more than a million complaints with the FBI about internet scams, and complaints rose 17% in the most recent year compared with 2024, according to an FBI agency report, which also noted record reported losses.
California Attorney General Rob Bonta warned this week that criminals are targeting Generation Z through social media, livestreams and digital investment schemes. Citing figures, Bonta said Americans lost $20.9 billion to internet-based scams in 2025, including $11.4 billion tied to cryptocurrency fraud. He warned that scammers increasingly use AI-generated impersonations, fake investment platforms and malicious software to drain digital wallets, and noted that cryptocurrency lets criminals move large sums remotely, making stolen funds difficult to recover.
The enforcement messaging also intersects with the president's personal crypto activities. Reuters reported that Trump and his sons have added at least $2.3 billion to their family fortune through crypto ventures, a point relevant to how the administration's crypto oversight is perceived.
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