4
As another fraud network in the cryptocurrency world collapses, researcher ZachXBT, known for his on-chain analysis, revealed that DSJ Exchange (DSJEX) and BG Wealth Sharing were running a large-scale Ponzi scheme.
According to reports, the system, which held over $150 million in funds, collapsed last week.
Launched in 2025, this structure targeted individual investors in particular, promising them a fixed daily return of between 1.3% and 2.6%. However, similar to a classic Ponzi scheme, the organization, which kept the system afloat with funds from newly arriving investors, became unsustainable and collapsed.
According to information shared by ZachXBT, the operators of the fraud network attempted to launder over $92 million in assets by transferring them between different blockchains between April 27 and May 3 in an effort to cover their tracks. However, thanks to coordinated efforts, a significant portion of the operation was halted.
The investigation reportedly involved cooperation between Tether, Binance’s security team, OKX, and US law enforcement. This collaboration has resulted in the freezing of approximately $41.5 million in assets so far. Particularly noteworthy was the freezing of 38.4 million USDT on the TRON network by Tether on May 4th.
ZachXBT emphasized that these types of scams mostly target individual investors and urged victims to contact local law enforcement immediately.
*This is not investment advice.
theblock.co
coindesk.com + 1 more
decrypt.co
cryptopolitan.com