Authorities Freeze $41 Million in Crypto Tied to BG Wealth Sharing
Cointelegraph
Law enforcement and major crypto exchanges have frozen $41 million linked to BG Wealth Sharing, a suspected $150 million Ponzi scheme.Summary
US law enforcement, in collaboration with major crypto exchanges like Tether, Binance, and OKX, has seized the domain of BG Wealth Sharing and frozen $41 million in assets. The platform, which allegedly operated a $150 million Ponzi scheme targeting retail investors through social media, promised high daily yields before performing a rug pull. Prior to going offline, the platform's CEO, Stephen Beard, demanded a 12% tax from users under the guise of an upcoming initial public offering, a tactic regulators identified as a hallmark of an advance fee scam.
(Source：Cointelegraph)