Trump says DOJ has frozen nearly $1 billion in crypto tied to foreign scams
In brief
- DOJ's Scam Center Strike Force had restrained $938,460,156.82 in crypto as of October 15, 2026.
- Trump announced the freeze at a White House cybercrime roundtable on October 21.
- Pig-butchering networks in Myanmar, Cambodia, Laos and the Philippines are the main targets.
- No tokens or exchanges were named; officials haven't confirmed any victim repayments.
What the Strike Force has restrained
The Strike Force was established in November 2025 to go after the transnational fraud networks behind large losses among US investors. Its restrained total has climbed steadily (it crossed $700 million by April 2026, then topped $800 million by July). It's now just shy of $1 billion.
The targets are mostly investment scams commonly called pig-butchering, run by networks based mainly in Southeast Asia, including Myanmar, Cambodia, Laos and the Philippines. A March 2026 executive order directed that online scam prosecutions be prioritized and called for coordination across US Attorneys' Offices nationwide.
What the government hasn't disclosed matters too. No specific tokens or exchanges were named in connection with the restrained amounts, and officials haven't broken down which assets make up the frozen funds or where they're held.
What officials claimed at the roundtable
Trump framed the freeze as one piece of a wider campaign against online fraud. He said federal authorities have prevented at least $1.6 billion in losses so far this year, and that more than 500 fraudulent websites have been taken down. The Strike Force's own count is 503 fraudulent crypto investment sites seized or disrupted since its launch. FBI Director Kash Patel said 20 scam compounds have been dismantled.
The warning numbers don't quite line up. Warnings have gone out to more than 10,000 Americans judged likely to become victims, per the report, while Patel cited an earlier figure of about 9,000. As of March 2026, those targeted warnings had prevented nearly $562 million in losses.
Frozen isn't returned
The FBI previously reported $11.366 billion in crypto-related losses for 2025, with investment fraud driving a large share. Officials have also pointed to growing collaboration with crypto platforms such as Coinbase and Binance (though neither was named in connection with the restrained funds).
Officials say the eventual goal is to return the money to victims. Confirming that any repayments have actually happened is still a challenge, according to Crypto Briefing.
Restrained, in other words, isn't the same as returned.
Frequently asked questions
What is the DOJ's Scam Center Strike Force?
It's a Justice Department unit established in November 2025 to pursue transnational fraud networks responsible for large losses among US investors. It focuses mainly on pig-butchering investment scams run from Southeast Asia, including Myanmar, Cambodia, Laos and the Philippines.
How much crypto has the DOJ frozen in scam cases?
As of October 15, 2026, the Scam Center Strike Force had restrained $938,460,156.82 in crypto. The total crossed $700 million by April 2026 and exceeded $800 million by July 2026. The government hasn't said which assets make up the funds or where they're held.
Have scam victims been repaid from the frozen crypto?
Not confirmed. Officials say the eventual goal is to return funds to victims, but confirming that repayments have actually happened remains a challenge, according to Crypto Briefing.
