Crypto scammers used SEC’s website to lure investors into alleged $130 million fraud
Summary
The SEC removed filings submitted by BG Wealth Sharing and DSJ Exchange after alleging the firms used them to falsely imply government approval for a crypto investment scheme. The firms allegedly promised risk-free monthly returns of at least 60%, while operating fictitious trading services and diverting most of more than $130 million raised from over 223,000 blockchain addresses. The SEC says up to $25 million was returned through Ponzi-like payments, while investors faced withdrawal fees and blocked access. The regulator filed a civil lawsuit seeking injunctions, penalties and repayment of alleged gains.
