The National Reserve Bank of Tonga and the New Zealand Financial Markets Authority have issued a joint warning to investors in Tonga and New Zealand about a Ponzi-style investment scam being promoted under the name BG Wealth/DSJ EX, linked to the wider TXEX scheme. The regulators urge people not to download the associated app, invest, or circulate it through community networks, citing significant losses and the risk of further harm. The scam uses multi-level marketing-style recruitment via social media groups on platforms such as WhatsApp, Viber and Bon Chat, often fronted by a “professor” and an assistant promising 100 percent returns and encouraging participants to recruit friends and family. Victims are directed to fund a cryptocurrency exchange account from their bank and then transfer cryptocurrency to a supposed trading account on a fake app that contains malware. Early small withdrawals may be permitted to build trust, but attempts to withdraw full balances trigger demands for additional “release” fees and, once recruitment slows, users can be locked out as the scammers disappear. The FMA warning lists 813 websites and 30 entities linked to the scheme as duplicates, and both authorities ask the public to report suspicious activity.
National Reserve Bank of Tonga 2026-02-10
National Reserve Bank of Tonga and New Zealand Financial Markets Authority warn investors about BG Wealth/DSJ EX Ponzi-style scam
The National Reserve Bank of Tonga and the New Zealand Financial Markets Authority have warned investors about a Ponzi-style scam named BG Wealth/DSJ EX, linked to the TXEX scheme. They urge against app downloads and investments due to significant losses. The scam involves multi-level marketing recruitment via social media, promising high returns, and directing victims to transfer cryptocurrency to fraudulent accounts. Authorities have listed 813 websites and 30 entities as duplicates and request public reports of suspicious activity.