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Trump Announces Federal Crackdown on Crypto Scams Targeting Americans

Trump Announces Federal Crackdown on Crypto Scams Targeting Americans

First seen 21 Oct 2026, 20:08 UTC • •
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ThreatCluster AI
ThreatCluster •October 21, 2026 at 21:09 UTC
  • •Trump's crackdown targets overseas crypto scams affecting American investors.
  • •The FBI reported over one million internet scam reports last year, a 17% increase.
  • •Recent operations have already shut down 241 fraudulent websites linked to scams.

On October 21, 2026, U.S. President Donald Trump announced a federal crackdown on crypto scams aimed at protecting American investors from online fraud. The initiative follows over one million reports of internet scams received by the FBI last year, marking a 17% increase from 2024. The crackdown will focus on overseas criminal networks that operate fake investment platforms and impersonation scams. Key officials, including FBI Director Kash Patel and Attorney General Todd Blanche, are expected to support this initiative. Recent enforcement actions have already led to the shutdown of 241 fraudulent websites and 112 servers linked to these scams. The crackdown aims to combat sophisticated scams, including 'pig-butchering' schemes, where criminals build trust before defrauding victims. This announcement coincides with California's recent legislation aimed at enhancing crypto investor protections.

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Timeline

2026-10-21
Trump announces crackdown on crypto scams
President Trump outlined a federal initiative to combat overseas crypto scams targeting Americans, with support from key officials.
Fr.Tradingview
Recent
241 fraudulent websites shut down
Recent enforcement actions resulted in the shutdown of 241 fake investment websites linked to crypto scams.
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Common questions

What types of scams are targeted?
The crackdown targets overseas criminal networks involved in fake investment platforms and impersonation scams.
How many scams were reported last year?
The FBI received over one million reports of internet scams last year, which is a 17% increase from 2024.
What actions have been taken so far?
Recent enforcement actions have led to the shutdown of 241 fraudulent websites and 112 servers linked to these scams.