Trump Targets Foreign Scam Networks as Crypto Losses Soar
Donald Trump (
@realDonaldTrump) has unveiled a new program targeting foreign cybercrime networks behind scams affecting Americans.
The National Security Presidential Memorandum titled “Expanding Capabilities to Combat Transnational Cyber-Enabled Crime,” covers ransomware, phishing, financial fraud, sextortion, and impersonation schemes.
Vetted U.S. companies could participate in approved cyber surveillance and cyber operations.
Patrick Witt called the move a major step against scammers exploiting crypto.
The FBI recorded $11.37 billion in reported cryptocurrency-related losses in 2025.