National Reserve Bank of Tonga and New Zealand Financial Markets Authority warn of Ponzi-style crypto investment scam using BG Wealth and DSJ EX names

The National Reserve Bank of Tonga, jointly with New Zealand’s Financial Markets Authority, issued a public warning about a Ponzi-style investment scam targeting Tongans in Tonga and overseas, including in New Zealand. The scheme uses the names BG Wealth or DSJ EX and is described as part of a wider operation known as TXEX. The warning highlights a network of 813 websites and 30 related companies associated with the scam and similar methods. Victims are typically approached via social media and chat apps including WhatsApp, Viber and Bon Chat, where a purported “Professor” and assistant promise 100% returns and incentivise members to recruit friends and family. Participants are directed to open cryptocurrency exchange accounts, transfer funds from bank accounts, and then send crypto to purported trading accounts that are not genuine; early “returns” may be shown to build trust. When a member tries to withdraw, additional fees are demanded and funds are not returned, after which accounts may be locked and the operators disappear. The authorities urge the public to be cautious with investment offers promoted through social media, avoid sharing personal information or making further payments if approached, and report suspicious activity to the relevant regulators. Guidance is also provided for those affected, including stopping contact with the scammers, blocking and reporting the groups and accounts involved, checking devices for malicious software, notifying financial institutions if accounts were accessed, and seeking identity and cybercrime support where appropriate.