$150M Crypto Ponzi Crumbles: $41.5M Frozen In DSJ Exchange Collapse
On-chain detective ZachXBT has shared details of the massive crypto Ponzi scheme that took over $150 million from unsuspecting victims before collapsing last week. Related Reading: Bitcoin Targets $86,000 After Key EMA Reclaim: Is The Next Rally Here? The Mechanics Behind The $150M Crypto Ponzi In a series of X posts, ZachXBT unveiled the details of a Ponzi scheme that had been operating under the DSJ Exchange (DSJEX), a fake trading platform, and BG Wealth Sharing, a fraudulent investment scheme, since 2025. The scam involved a fake CEO named Stephen Beard, a self-proclaimed professor who....
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As Solana (SOL) breaks out of a multi‑week pattern, some market observers suggest a retest of a key resistance level could be on the horizon. Nonetheless, they also warned that the next leg up could be short‑lived if momentum fails to hold. Related Reading: $150M Crypto Ponzi Crumbles: $41.5M Frozen In DSJ Exchange Collapse Solana Breakout Targets Key Resistance On Wednesday, Solana jumped 4.2% on the daily timeframe, retesting the $90 area for the first time in nearly a month before retracing. The cryptocurrency has been in the $75 to $96 price range since the early February market crash,....
Crypto on-chain investigator ZachXBT said the DSJ Exchange, also known as DSJEX, and BG Wealth Sharing Ponzi scheme collapsed last week after allegedly drawing in more than $150 million. The case now carries a second, market-relevant dimension: a rapid cross-chain laundering attempt that moved more than $92 million in less than a week and triggered […]
This particular Ponzi Scheme in Vietnam will give Bitcoin a bad reputation in the country. Cryptocurrency is not regulated by the banks, and the local government is not too keen on Bitcoin either. Ever since the inception of Bitcoin, there have been individuals and companies trying to discredit cryptocurrency. Some of them even go as far as setting up deliberate Ponzi Schemes to defraud Bitcoin investors. Such a scheme seems to be on the brink of collapse in Vietnam. Hundreds of people have been burned by this pyramid scheme, which seemed to rely on an MLM structure. It is not the first....
The Nigerian arm of an international Ponzi scheme, MMM Nigeria has announced the revival of its investment scam by sending out instructions to investors who had their accounts frozen earlier. MMM, the “most successful” Ponzi Scheme has planned a revival of its Nigerian arm of business, or so it would seem. The investment scheme created an outburst in the cryptocurrency community recently by introducing Bitcoin investments. Attracted by the promises, many people jumped on the bandwagon, in spite of being advised against it. Those who invested in MMM Nigeria – reported to be around 3 million....
Google’s Communications and Public Affairs Manager for Anglophone West Africa, Taiwo Kola-Ogunlade, has confirmed that search for MMM became the biggest traffic on the top search engine site after Tuesday, December 13. On the said day, Nigerians participating in the MMM Ponzi scheme were informed that all confirmed subscriber accounts will be frozen for a month. Since the move is similar to what preceded the collapse of the scheme in Zimbabwe – it later collapsed in South Africa too – some of the Nigerians are panicky. MMM Global closed its Republic of Bitcoin website which promised up to....