U.S. authorities have frozen more than $41 million in cryptocurrency and seized the website of BG Wealth Sharing, a suspected $150 million Ponzi scheme, in a move that reinforces earlier warnings issued to Pacific communities, including Tongans in New Zealand and the United States.
The enforcement action follows attempts by individuals linked to the platform to move over $92 million in crypto assets in late April, according to blockchain investigator ZachXBT, who assisted in tracing and halting the transfers.
Independent blockchain investigator ZachXBT has also analysed BG Wealth Sharing, linking it to the DSJ Exchange Ponzi scheme and estimating losses exceeding US$150 million.
His findings, which contributed to the freezing of tens of millions in crypto assets, further allege that the scheme operated using fabricated executive identities.
He noted that many victims were recruited through social media and were unaware they had been defrauded.
The website bgwealthsharing.com now displays a seizure notice after being taken over by U.S. authorities in a joint operation involving the Federal Bureau of Investigation (FBI), the Department of Justice, and the U.S. Secret Service.
Anyone visiting the BG Wealth Sharing website is now met with a prominent notice stating, “THIS SITE HAS BEEN SEIZED.”
The banner identifies the action as a U.S. law enforcement operation, adding:
“This domain has been seized in accordance with a seizure warrant issued pursuant to 18 U.S.C. § 981(a)(1)(A), 18 U.S.C. § 982(a)(1), and 28 U.S.C. § 2461(c) by the United States District Court for the District of Columbia.”
Kaniva News has sought comment from U.S. authorities and is awaiting a response.
Tonga, NZ Issue Warning
The development follows earlier warnings issued to Tongan communities, including a joint alert by authorities in Tonga and New Zealand, cautioning that BG Wealth Sharing showed signs of an investment scam and was operating without proper licensing.
The platform had gained traction among Pacific diaspora networks, particularly through online recruitment channels.
Despite these warnings, the company continued to attract investors by promoting itself as a crypto trading platform offering daily returns of up to 2.6 percent, along with referral commissions and bonus structures.
Concerns escalated in the days before the collapse when the platform required investors to pay a 12 percent “tax” on their account balances, claiming it was part of preparations for a public listing.
Soon after, users reported being unable to withdraw funds, raising fears that the platform had executed a “rug pull” — a scam in which operators abruptly drain all funds and disappear, leaving investors with worthless assets.
Regulators later warned that such demands for additional payments to access funds are a key indicator of advance-fee fraud.
Investigations into BG Wealth Sharing are continuing as U.S. authorities work to trace remaining assets and identify those responsible.
Tongan Promoters Remain Silent
Since the seizure of the BG Wealth Sharing website and the disclosure that U.S. authorities had frozen funds, leading Tongan promoters of the scheme have gone quiet and have yet to respond publicly.
The development follows a joint warning issued in February 2026 by New Zealand’s Financial Markets Authority and the National Reserve Bank of Tonga, which identified the BG Wealth/DSJ EX scheme as a Ponzi-style, multi-level marketing fraud targeting Tongan communities in both countries.
Authorities in Utah and Washington also issued warnings against BG Wealth Sharing and rejected its registration claims in Colorado.
The Washington warning in early April specifically noted that BG Wealth clients had complained they were unable to withdraw funds, despite earlier promises of profit returns.
