Trump Cracks Down on Foreign Cybercrime Groups Amid Rising Crypto Theft
President Donald Trump has signed a National Security Presidential Memorandum aimed at combating cyber-enabled attacks and foreign criminal organizations involved in such activities. According to White House official Patrick Witt, Americans lost nearly $21 billion to cybercrime last year, marking a 26% increase from the previous year.
Crypto theft accounts for about one-third of reported cybercrime losses in the US, with American consumers losing more than $20.8 billion to such crimes in 2025. The administration reports that these activities are often coordinated by sophisticated transnational criminal organizations based outside the United States, which target Americans through operations conducted across foreign jurisdictions.
The new memorandum directs the Homeland Security Task Force's National Coordination Center to establish a program for specific cyber operations, with two executive directors from the Department of Justice and the Department of Homeland Security leading the effort. Participating companies can voluntarily enter agreements with other private entities and government agencies to support cyber operations against transnational criminal organizations.