Law enforcement freezes $41 million, BG Wealth Sharing domain seized in $150 million crypto Ponzi scheme

Odaily Planet Daily News: The domain of BG Wealth Sharing, allegedly involved in a $150 million crypto Ponzi scheme, has been seized by US law enforcement. On-chain investigator ZachXBT disclosed that individuals associated with the scheme attempted to launder over $92 million between April 27 and May 3. In coordination with Tether, Binance, OKX, and US law enforcement, over $41 million in funds were successfully frozen.

The scheme has been operating since 2025, heavily promoted through social media with promises of daily returns of 1.3% to 2.6%, primarily targeting retail investors. Before its shutdown, CEO Stephen Beard claimed an "IPO regulatory process" and demanded users pay a fee equivalent to 12% of their account balance, which was widely regarded by users as a final "rug pull." (Cointelegraph)