Trump to Spotlight Overseas Crypto Scams at White House Cybercrime Event

Odaily reports: According to White House officials, U.S. President Trump plans to highlight his administration's efforts to combat scams carried out by overseas criminal organizations using cryptocurrency at a cybercrime event held at the White House. Transnational criminal syndicates are said to have stolen funds from American citizens through romance scams, phishing, ransomware attacks, and other means. U.S. law enforcement agencies have frozen approximately $833 million in crypto assets linked to overseas fraud and, under a Department of Homeland Security task force operation, seized 503 fraudulent cryptocurrency websites, while notifying nearly 9,000 U.S. citizens that they were being targeted by scams. As the U.S. congressional midterm elections approach, Trump and his administration's ties to the crypto industry are also drawing scrutiny over conflict-of-interest allegations. (CoinDesk)