ZachXBT: $150 Million DSJ Crypto Ponzi Collapses, $41.5 Million Frozen
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 […]
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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....
On-chain sleuth ZachXBT has traced a $3.05 million theft of XRP from a US retail user to a laundering route that ran through Bridgers—an aggregator formerly associated with SWFT—and into over-the-counter venues linked to Huione, the Cambodian financial network that the US government moved last week to cut off from the American financial system. Publishing […]
Iran had already begun collecting crypto payments from ships crossing the Strait of Hormuz when US authorities moved to cut off the money. Related Reading: Crypto Crime Hit Hard: $700 Million Frozen By DOJ Strike Force On Friday, the Treasury Department announced it had frozen over $340 million in cryptocurrency tied to Iranian military and […]
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....
A South Florida federal district judge has sentenced Jose Angel Aman to 84 months in prison for his role in perpetrating a $25 million diamond Ponzi scheme. In addition, the judge ordered Aman to pay over $23 million in restitution to victims who invested in his diamond cutting business and the purported diamond-backed crypto token. Fraudulent Claims and Promises In a statement, the U.S. Department of Justice (DOJ) says Aman and his unnamed partners successfully recruited hundreds of people after convincing them “to invest in diamond contracts.” The statement adds that the....