Trump Cites Nearly $1 Billion in Crypto Frozen in Scam Crackdown

President Donald Trump said federal authorities had frozen nearly $1 billion in cryptocurrency tied to foreign scammers at a White House cybercrime roundtable on Oct. 21. He also said authorities had prevented at least $1.6 billion in losses this year. The figures describe different measures: assets held from movement and losses Trump said authorities had stopped.

The Department of Justice (DOJ) Scam Center Strike Force’s total for cryptocurrency under restraint stood at $938,460,156.82 in an Oct. 15 tally, close to Trump’s rounded figure. The restrained amount represents assets held back from movement, not money already returned to victims. Returning funds to victims is among the strike force’s goals.

The strike force launched in November 2025 to target cryptocurrency-related fraud and scam operations in Southeast Asia. Federal actions tied to the campaign have included seizing 503 fake investment websites. As of March 2026, Operation Level Up had warned 8,935 potential victims. Of those, 77% were unaware of the scam; the warnings were estimated to have prevented $562,726,245 in losses. Website seizures and victim alerts are separate measures from cryptocurrency under restraint.

The roundtable had been previewed as a review of the administration’s response to overseas crypto scams. Trump signed Executive Order 14390 on March 6. It directs agencies to review tools against transnational cybercrime, prioritize prosecutions and prepare an action plan. It also calls for a recommendation on restoring funds to victims with money seized or forfeited from perpetrators. Both the order and the strike force were in place before the Oct. 21 meeting.

The FBI’s Internet Crime Complaint Center count for calendar year 2025 was 181,565 complaints involving cryptocurrency, with $11.366 billion in reported losses, up 22% from 2024. The figures cover complaints with any cryptocurrency connection. They do not isolate investment scams run through overseas scam centers, so the total is broader than losses tied to the strike force’s focus.