The domain of investment group BG Wealth Sharing, a suspected $150 million crypto-Ponzi scheme, has been seized by law enforcement just days after users allegedly pulled the trigger.
Onchain sleuth ZachXBT said X said on Tuesday that “illegal actors” linked to the group attempted to launder more than $92 million in crypto between April 27 and Sunday, but he helped lead an operation that worked with Tether, Binance, OKX and US law enforcement to freeze more than $41 million.
He also said the scheme is potentially responsible for more than $150 million in damages, as it has been operating since 2025 and “thousands of victims have been identified as exchange refunds.”
“Although these Chinese investment frauds are obvious to most people, they intentionally target unsophisticated retail investors through social media,” ZachXBT added. “Reading the affected posts, many people still seem to be in denial that they were cheated on.”
Source: ZachXBT
The U.S. Federal Bureau of Investigation reported in April that U.S. victims lost $21 billion to cybercrime last year, with crypto investment scams accounting for the bulk of the losses.
BG Wealth Sharing domain seized by US law enforcement agencies.
As of Wednesday, the BG Wealth Sharing website shows A note that was seized by US law enforcement as part of a joint operation between Operation Level Up and the Scam Center Strike Force.
There were several regulators. warned that BG Wealth Sharing was an unlicensed entity and advised caution from 2025. In April, the Central Bank of Samoa said It was an investment scam and advised investors to avoid the company.
A domain linked to BG Wealth Sharing has been seized by US authorities. Source: BG Wealth Sharing
BG Wealth Sharing, according to officials, claimed to provide guidance on crypto trading, advertised heavily on social media and offered “daily profit opportunities”, referral commissions, rank-based bonuses and daily yields of 1.3% to 2.6%.
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One last rug pull before going offline, users say
Before BG Wealth Sharing went offline, CEO Stephen Baird told Consumers said in a video address on Saturday that its DSJ exchange was close to an initial public offering and that a 12% tax on account balances was required as part of the regulatory process.
Stephen Baird, CEO of BG Wealth Sharing, told clients that a 12% tax is required on account balances as part of the initial public offering process. Source: ZachXBT
By Sunday, customers warned on social media that the whole scheme was a carpet bridge in progress. Washington State Department of Financial Institutions on Monday Continued Similar warning.
In an update to its earlier post about BG Wealth Sharing, the regulator said it had received complaints from investors and warned that it was possibly a scam.
“A company that requires an investor to raise additional external funds to recoup their investment is highly likely to be running an advance fee scam.”
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