The Oklahoma Securities Division has recently issued a warning to investors, cautioning that a suspected cryptocurrency scam is attracting funds by promoting “risk-free” and “guaranteed returns.” Regulators identified the involved parties as BG Wealth Sharing Ltd, DSJ Exchange PTY Ltd, and HQI Exchange, and urged investors who have engaged with the project to immediately cease all fund transfers.
The involved entity is not registered locally.
Regulators stated that none of the aforementioned entities are authorized to operate in Oklahoma. BG Wealth and DSJ are also accused of falsely claiming to have received approval from the U.S. Securities and Exchange Commission to enhance the credibility of their projects.
Such claims have triggered enforcement actions in other U.S. states. Regulators in Washington, Hawaii, and Utah have previously issued cease-and-desist orders against similar entities, demonstrating that this pattern is not an isolated case.
A common tactic is to promise returns first and then restrict withdrawals.
According to regulatory disclosures, this type of scam typically attracts users to deposit funds with promises of stable returns or principal protection, then imposes various fees when investors attempt to withdraw their funds. These charges are often disguised as taxes, commissions, or account verification costs.
Victims reported that even after paying these additional fees, they were still unable to withdraw their account funds. This suggests that the so-called withdrawal process may itself be part of the scam to continue extracting money.
Similar cases have recently emerged in multiple states.
The report noted that recent cryptocurrency fraud cases in the United States have shared similar characteristics, including fake trading platforms, promises of guaranteed returns, and restrictions on withdrawals conditioned on additional fee payments.
In more recent cases, platforms such as Fedra Exchange, which have been flagged by regulators in Texas and California, have also adopted similar patterns. For investors, a platform that simultaneously claims high returns, regulatory endorsement, and additional fees before withdrawals is typically a clear red flag.