US Authorities Freeze Assets Linked to Suspected Crypto Ponzi Scheme

A joint operation involving US law enforcement agencies has resulted in the freeze of more than $41 million in assets linked to the suspected crypto Ponzi scheme BG Wealth Sharing.

The group, which allegedly marketed itself as a crypto trading platform offering daily profits and referral bonuses, targeted retail investors through social media.

According to onchain investigator ZachXBT, the scheme's operators attempted to launder over $92 million in crypto within days before intervention.