Law enforcement has frozen more than $41 million in crypto tied to BG Wealth Sharing, a suspected $150 million Ponzi scheme that allegedly targeted retail investors with promises of daily trading profits and referral bonuses. According to reporting on the case, onchain investigator ZachXBT helped trace the laundering activity, while Binance, Tether, OKX, and U.S. authorities coordinated to halt the movement of funds after actors linked to the scheme allegedly tried to launder more than $92 million in a matter of days. The case matters because it shows how quickly large-scale crypto fraud can move funds across networks and how exchange and stablecoin issuers can help freeze assets once suspicious flows are identified. Authorities also seized the scheme’s website, and regulators had previously warned that BG Wealth Sharing was unlicensed and likely fraudulent; victims and investigators say the operation may have ended in a final rug pull after users were asked to pay an additional 12% fee to withdraw funds.

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