Add as a preferred source on GoogleTrump Cites $20 Billion Cybercrime Toll, Calls Scam Funds “Cybercurrency”
He said federal officials froze $1 billion tied to foreign scammers. Attorney General Todd Blanche did not use “cryptocurrency” or “digital assets” when discussing the scams.
President Donald Trump said the U.S. froze $1 billion in “cybercurrency tied to foreign scammers” at a White House roundtable Wednesday, Oct. 21, where he cited more than $20 billion in cybercrime losses during 2025.
Trump linked the losses to impersonation schemes, ransomware attacks, scam centers and other methods. He did not give a separate figure for crypto-related losses.
Trump used “cybercurrency” but did not use the terms “crypto,” “cryptocurrency” or “digital assets” while discussing the scams. Attorney General Todd Blanche also did not use “cryptocurrency” or “digital assets” in his remarks. Homeland Security Secretary Markwayne Mullin referred to “digital extortion.” Cybercurrency is an older term for cryptocurrency.
The event followed earlier coverage of plans for the roundtable, which was expected to focus on overseas crypto scams.
Riza Dagoc
Riza Dagoc reports on regulation, investing and the digital-asset business for TokenPost. Send corrections or tips to info@tokenpost.com.