TechFlow News: On May 6, according to Cointelegraph, the domain of BG Wealth Sharing—a suspected $150 million cryptocurrency Ponzi scheme—has been seized by U.S. law enforcement authorities. On-chain investigator ZachXBT revealed that individuals linked to the scheme attempted to launder over $92 million between April 27 and May 3. In collaboration with Tether, Binance, OKX, and U.S. law enforcement agencies, more than $41 million in funds was successfully frozen.
The scheme began operations in 2025 and heavily promoted itself via social media, promising daily returns of 1.3%–2.6%, primarily targeting retail investors. Prior to its shutdown, its CEO, Stephen Beard, requested users pay a 12% “tax” on their account balances, citing an “IPO regulatory process”—a move widely perceived by users as the final “scalping” of investors.
