Trump says DOJ froze nearly $1 billion in scam-linked crypto
Image: UnchainedPresident Donald Trump said on October 21, 2026, that federal authorities froze nearly $1 billion in crypto tied to foreign scammers. He spoke at a White House roundtable on cybercrime. The Justice Department's Scam Center Strike Force lists $938,460,156.82 in restrained crypto. Trump also said at least $1.6 billion in losses were prevented this year and more than 500 fraudulent websites were taken down. FBI Director Kash Patel said 20 scam compounds were dismantled.
Key points
- Trump said federal authorities froze nearly $1 billion in crypto tied to foreign scammers.
- The Justice Department's Scam Center Strike Force lists $938,460,156.82 in restrained crypto.
- Trump said at least $1.6 billion in losses were prevented this year and more than 500 fraudulent websites were taken down.
- FBI Director Kash Patel said 20 scam compounds were dismantled.
- The restrained crypto is not the same as money returned to victims.
Why it matters
The restrained crypto is not the same as money returned to victims, and recovery is a separate and slower process. The operation targets scam networks based mainly in Southeast Asia.
What's unclear
The government has not broken down which assets make up the restrained crypto or where they were held.
The White House post did not say where its nearly $1 billion figure came from.
Sources · 2 publishers
Crypto Briefing
Tier 2
Trump says DOJ has frozen nearly $1 billion in scam-linked crypto
Coverage timeline
- First reported by Unchained
- Also reported by Crypto Briefing
- CryptoVideos brief published
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