Law enforcement freezes $41M connected to $150M crypto Ponzi collapse

BG Wealth Sharing, according to authorities, claimed to provide guidance on crypto trading, advertised heavily on social media and offered “daily profit opportunities.”

Investment group BG Wealth Sharing, a suspected $150 million crypto Ponzi scheme, has had its domain seized by law enforcement days after allegedly rug-pulling users.

Onchain sleuth ZachXBT said on X on Tuesday that “illicit actors” connected to the group tried to launder more than $92 million in crypto between April 27 and Sunday, but he helped lead an initiative that froze more than $41 million, working alongside Tether, Binance, OKX and US law enforcement.

He also said the scheme was likely responsible for losses greater than $150 million, given it’s been operating since 2025 and the “thousands of victim exchange withdrawals identified.”

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