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

Odaily reported that the domain of BG Wealth Sharing, allegedly involved in a $150 million crypto Ponzi scheme, has been seized by U.S. law enforcement. On-chain investigator ZachXBT disclosed that individuals linked to the scheme attempted to launder over $92 million between April 27 and May 3. In coordination with Tether, Binance, OKX, and U.S. authorities, they successfully froze more than $41 million in funds.

The scheme had been operating since 2025, heavily promoting itself on social media and promising daily returns of 1.3% to 2.6%, primarily targeting retail investors. Before shutting down, its CEO Stephen Beard demanded users pay a 12% tax on their account balances, citing an "IPO regulatory process," which users identified as a final attempt to exploit them. (Cointelegraph)