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- The FBI hosted its annual Virtual Asset Technical Exchange in San Antonio to discuss crypto scams, hacks, illicit finance and North Korean cyber activity.
- The three-day gathering drew hundreds of attendees, including overseas law enforcement, compliance specialists and about 50 private-sector vendors and partners.
- The forum coincided with rising cybercrime figures, as the FBI recorded 181,565 cryptocurrency complaints and over $11 billion in losses for 2025.
The FBI brought investigators, overseas law enforcement and crypto-security specialists together in San Antonio for its annual Virtual Asset Technical Exchange, with discussions covering scams, hacks, illicit finance and North Korean cyber activity.
The invitation-only gathering was held over three days in early September and has now reached its ninth year, attendees said. The FBI has not published an agenda or attendee list, leaving most details of this year’s program to participants and people familiar with the event.
Hundreds Attend FBI Crypto-Crime Forum in San Antonio
The program drew hundreds of attendees, while private-sector participation was capped at about 50 vendors and partners, according to people familiar with the gathering. Participants included FBI personnel, overseas law enforcement, compliance specialists and blockchain-security companies.
TRM Labs confirmed its attendance, while Predicate confirmed that CEO Nikhil Raghuveera presented on stablecoin compliance and the GENIUS Act. Chainalysis, FinCEN and crypto-security group SEAL were also reported among the participants.
Sessions covered illicit crypto linked to terrorist financing and cartels, cyber-enabled fraud, investment scams, human trafficking, violent attacks on crypto holders and emerging hacks. Attendees also discussed tracing funds and intelligence sharing between law enforcement and private security teams.
Crypto Complaints Reached 181,565 With More Than $11B in 2025 Losses
The gathering comes as U.S. authorities handle a growing volume of crime reports involving cryptocurrency.
The FBI’s Internet Crime Complaint Center recorded 181,565 complaints referencing cryptocurrency in 2025, with reported losses exceeding $11 billion. That compares with 149,686 complaints and about $9.3 billion in reported losses in 2024.
Investment fraud remained a major source of losses. The FBI has also continued Operation Level Up, which identifies and contacts potential victims while crypto investment scams are still underway.
TRM Attributes $643M in H1 Crypto Thefts to North Korea
North Korean cyber operations were another focus at the San Antonio gathering. In its July first-half report, TRM Labs attributed about $643 million of the $972 million stolen across 207 crypto hacks and exploits to North Korea-linked activity, or roughly two-thirds of the total.
The FBI separately warned on Sept. 18 that the North Korean group it tracks as WaterPlum, also known as Contagious Interview, uses fake recruitment activity to compromise IT professionals, steal sensitive information and take cryptocurrency.
The VATE forum gives investigators and private-sector specialists a venue to compare those attack methods, trace illicit funds and share information on crypto-related cases spanning multiple jurisdictions.
