By Sunday, users on social media had figured out what was happening. By Monday, regulators were warning the public. By Tuesday, the domain was gone — seized by US law enforcement.
Last-Minute Warning Signs Came Too Late For ManyOfficials warned that any company requiring investors to deposit more money before they can withdraw their own funds is a strong sign of an advance fee fraud.
That warning followed similar advisories stretching back to 2025, including one from the UK’s Financial Conduct Authority and another from the Central Bank of Samoa, which in April called the group an outright investment scam.
1/ The $150M+ DSJ Exchange (DSJEX) / BG Wealth Sharing Ponzi scheme collapsed last week. From April 27 – May 3, illicit actors laundered $92M+ across chains to obscure the trail.
Despite those red flags, thousands of people had already sent their money in. BG Wealth Sharing recruited users through heavy social media promotion.
It promised daily returns of 1.3% to 2.6%, referral bonuses, and rank-based rewards — the kind of structure that keeps people recruiting others and brings in fresh funds to pay earlier investors.
Between April 27 and May 3, actors connected to the group tried to move more than $92 million in crypto. ZachXBT, working alongside Tether, Binance, OKX, and US law enforcement, helped freeze over $41 million of those funds.
Victims Recruited Through Social Media, Targeted For InexperienceZachXBT noted that many victims were still in denial after the scheme collapsed. According to him, these types of investment frauds deliberately go after inexperienced retail investors through social media, where slick branding and testimonials can look convincing to someone unfamiliar with how these operations work.
The FBI reported in April that Americans lost $21 billion to cyber-enabled crime in a single year, with crypto investment scams making up a significant portion of those losses.
BG Wealth Sharing had been running since at least 2025, and thousands of victim exchange withdrawals were identified in the investigation.
Joint Operation Signals Broader Push Against Crypto ScamsUnited States authorities have been increasing coordination with exchanges and on-chain investigators to track and freeze funds before they can be fully laundered.
Featured image from MetaAI, chart from TradingView
