Trump Targets Foreign Cybercrime Networks in Crypto Theft Fight
US President Donald Trump has signed a National Security Presidential Memorandum aimed at disrupting foreign cybercrime networks responsible for ransomware, financial fraud, phishing, sextortion, and impersonation scams. The move targets crypto theft, which accounts for about 30% of reported cybercrime losses in the US.
Cybercrime cost Americans nearly $21 billion last year, with cryptocurrency-related complaints exceeding $11 billion. Investment fraud remained the largest category of scam-related losses, highlighting the growing interconnection between digital assets and broader online financial crime.
The new framework places the Homeland Security Task Force's National Coordination Center at its center, allowing participating companies to share intelligence, identify transnational criminal organizations, and propose cyber operations based on specific threats. The administration says protecting Americans from criminal exploitation supports responsible digital-asset growth.