The FBI recorded $7.2 billion in reported U.S. cryptocurrency investment fraud losses in 2025, as President Donald Trump was expected to address overseas scam networks at a White House event Oct. 21.
A White House official told Reuters that Trump and cabinet members were expected to discuss the seizure of fraudulent investment websites. The event was also set to cover efforts to stop online impersonation scams.
The FBI’s Internet Crime Complaint Center (IC3) recorded 1,008,597 internet crime complaints in 2025, according to its annual report. Reuters reported that the count was 17% higher than in 2024. The $7.2 billion in cryptocurrency investment fraud losses was among the losses reported to the FBI.
The FBI said criminal groups based largely in Southeast Asia use psychological manipulation and an appearance of legitimacy to draw people into investment schemes. Human trafficking victims are forced to carry out many of the operations, the agency said.
In April, the Department of Justice (DOJ) announced the seizure of 503 websites that posed as investment platforms. On Sept. 9, the department said its Scam Center Strike Force had restrained about $938 million in total. It said it aims to return forfeited scam funds to victims where possible.
A March 6 executive order directed federal agencies to develop a plan against transnational cybercrime groups and instructed prosecutors to prioritize serious online fraud cases.
Trump’s family also has cryptocurrency ventures. Reuters estimated that the president and his sons had added at least $2.3 billion to their family fortune through April 30, 2026, from their main crypto projects. Its analysis put investor losses at $2.3 billion, including losses on paper. Responding to the investigation, White House spokeswoman Anna Kelly said Trump’s actions served Americans’ best interests.
The White House official’s account to Reuters was a preview of the Oct. 21 event; it did not establish that the event had taken place.
