---
title: "Law enforcement freezes $41 million; BG Wealth Sharing's $150 million crypto Ponzi scheme domains seized."
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/285327333.md"
description: "US law enforcement has seized the domain of BG Wealth Sharing, linked to a $150 million cryptocurrency Ponzi scheme. Investigations revealed attempts to launder over $92 million, with $41 million successfully frozen in collaboration with Tether, Binance, and OKX. The scheme, operational since 2025, targeted retail investors with promises of daily returns of 1.3% to 2.6%. CEO Stephen Beard's demand for a 12% tax on account balances before the shutdown was seen as a final blow to users."
datetime: "2026-05-06T07:01:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/285327333.md)
  - [en](https://longbridge.com/en/news/285327333.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/285327333.md)
---

# Law enforcement freezes $41 million; BG Wealth Sharing's $150 million crypto Ponzi scheme domains seized.

The domain name of BG Wealth Sharing, suspected of being involved in a $150 million cryptocurrency Ponzi scheme, has been seized by US law enforcement. On-chain investigator ZachXBT revealed that those involved in the scam attempted to launder over $92 million between April 27 and May 3, and successfully froze over $41 million in funds in conjunction with Tether, Binance, OKX, and US law enforcement. The scam operated 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 "IPO regulatory processes," which users considered the final blow. (Cointelegraph)

### Related Stocks

- [RIOT.US](https://longbridge.com/en/quote/RIOT.US.md)
- [GBTC.US](https://longbridge.com/en/quote/GBTC.US.md)
- [HUT.US](https://longbridge.com/en/quote/HUT.US.md)
- [BTBT.US](https://longbridge.com/en/quote/BTBT.US.md)
- [ETHE.US](https://longbridge.com/en/quote/ETHE.US.md)
- [COIN.US](https://longbridge.com/en/quote/COIN.US.md)
- [BGIN.US](https://longbridge.com/en/quote/BGIN.US.md)
- [ETHA.US](https://longbridge.com/en/quote/ETHA.US.md)
- [BITB.US](https://longbridge.com/en/quote/BITB.US.md)
- [BLOK.US](https://longbridge.com/en/quote/BLOK.US.md)
- [BTCO.US](https://longbridge.com/en/quote/BTCO.US.md)
- [USDTHKD.VAHK](https://longbridge.com/en/quote/USDTHKD.VAHK.md)
- [USDTUSD.VAHK](https://longbridge.com/en/quote/USDTUSD.VAHK.md)

## Related News & Research

- [Crypto exchange Blockchain.com confidentially files for IPO](https://longbridge.com/en/news/287225110.md)
- [Trump Family Wealth Reportedly Gets $660M Boost From Undisclosed Crypto Token Sales](https://longbridge.com/en/news/286801597.md)
- [Hut 8 Commits $16 Million to Expand Water Infrastructure in West Feliciana Parish | HUT Stock News](https://longbridge.com/en/news/286894933.md)
- [ChatGPT Can Now Connect to Your Financial Accounts for Budgeting Advice](https://longbridge.com/en/news/286596894.md)
- [EXCLUSIVE-How Trump's crypto venture and Iran's top exchange tapped into the same industry networks](https://longbridge.com/en/news/286735446.md)