Trump Unveils Cyber Program to Disrupt Foreign Scam Networks

U.S. President Donald Trump has taken a significant step towards combating cryptocurrency scams through a new cyber program, as announced in his National Security Presidential Memorandum on August 12.

The memorandum, titled 'Expanding Capabilities to Combat Transnational Cyber-Enabled Crime,' aims to disrupt foreign cybercrime networks that target Americans with various forms of cyber-enabled crime, including ransomware, phishing, financial fraud, sextortion, and impersonation schemes.

Patrick Witt, executive director of the President's Council of Advisors for Digital Assets, noted in a statement on X that this action is 'a major step toward shutting down the scammers who exploit crypto to prey on Americans.'

The new program will allow vetted American businesses to perform cyber surveillance and effects operations after acceptance into the program. The National Coordination Center will manage the initiative, with Justice and Homeland Security appointees serving as co-executive directors.