Trump Targets Cybercrime as Crypto Theft Drives 30% of Losses
TL;DR
- Trump signed a National Security Presidential Memorandum targeting foreign cybercrime networks.
- The White House says crypto theft represents about 30% of reported cybercrime losses.
- Vetted private companies can support government-led cyber operations against transnational criminal organizations.
President Donald Trump has signed a new National Security Presidential Memorandum aimed at foreign criminal organizations behind cyber-enabled attacks, placing crypto theft among the financial crimes driving pressure on U.S. authorities. The White House says Americans lost nearly $21 billion to cybercrime last year.
The measure gives federal agencies broader authority to coordinate cyber operations against transnational criminal organizations operating abroad. It also creates a channel for vetted private-sector firms to support government-directed efforts, including intelligence gathering and disruption.
Cybercrime cost Americans nearly $21B last year, up 26% YoY and climbing, with about a third of it involving crypto.
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