DSJ, BG Wealth Sharing Collapse in Suspected $150 Million Ponzi as $92 Million Is Laundered

Minseung Kang

Summary

DSJ Exchange and BG Wealth Sharing collapsed in what was described as a $150 million Ponzi scheme.
More than $92 million was laundered across multiple blockchains between April 27 and May 3, while more than $41.5 million has been frozen with the cooperation of Tether, Binance, OKX and US law enforcement authorities.
The project promoted daily returns of 1.3%% to 2.6%% from 2025, used a fake trading system and a fictitious CEO, and after halting withdrawals, demanded 12%% of account balances under the guise of a listing fee.

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*Photo: Screenshot from ZachXBT's X account*

The collapse of crypto investment platform DSJ has revealed signs of large-scale money laundering after the operation was exposed as a Ponzi scheme. Some assets have already been frozen.

On May 5, on-chain analyst ZachXBT wrote on X that DSJ Exchange and the BG Wealth Sharing investment scheme collapsed last week in what appears to be a roughly $150 million fraud.

More than $92 million was laundered across multiple blockchains between April 27 and May 3, he said.

ZachXBT added that more than $41.5 million has been frozen so far with the cooperation of Tether, Binance, OKX and US law enforcement authorities.

The project recruited investors from 2025 by promising daily returns of 1.3% to 2.6%. The platform was found to have used a fake trading system and a fictitious chief executive officer.

Even after withdrawals were halted, the operators appeared to seek additional funds by demanding 12% of account balances under the pretext of a listing.

The laundering process used decentralized-finance swaps, bridges and stablecoin wrapping to evade transaction tracing, according to the analysis.

The case is being viewed in the market as another example underscoring the importance of tracing funds and regulatory responses in a multichain environment.