Audit log

Every state-changing event for HQI Exchange: moderation decisions on community submissions, plus corrections and updates from the news pipeline. URL-based decisions carry three independent witnesses — the original source, an Internet Archive snapshot taken at submission time, and a Solana memo signed by our publicly-disclosed publisher key.

1. #1publishby system:backfill

   2026-05-28 17:50:29Z
   Score: ? → ? (no score change)
   anchoranchored

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   ●mainnet-betaslot 422,769,020

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   jvjnWFq5PSm4…SR1yECo4copyexplorer ↗

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   Bb87htzttrWS…MCoz1FsXcopysha256 → base58

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   {"actor":"system:backfill","investigation_id":"7f5f1392-8351-4938-8bac-725bc17d23df","kind":"publish","page_slug":"hqi-exchange","published_at":"2026-05-28T17:50:29.363Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"HQI Exchange","sections":[{"content":"On May 15, 2026, the Washington State Department of Financial Institutions (DFI) formally updated its existing BG Wealth Sharing / DSJ Exchange fraud alert to name HQI Exchange as a successor platform. The DFI stated that 'BG Wealth investors are reportedly being directed away from the DSJ Exchange to a new platform called the HQI Exchange (HQIEX)' and that 'investors are being told to deposit more funds to move to the new platform.' The DFI further noted it had received reports from individuals who paid the prior 12% 'IPO tax' demanded by DSJ Exchange but remained unable to withdraw any funds, and strongly urged all BG Wealth investors to use extreme caution before sending further funds to any associated platform. The original alert, first issued April 10, 2026, and updated May 4 and May 15, covers the broader BG Wealth Sharing / DSJ Exchange fraud ecosystem of which HQI Exchange is an alleged component.","heading":"Regulatory Warnings","severity":"critical","sources":[{"credibility":1,"name":"Washington State DFI — Alleged investment group BG Wealth Sharing LTD and cryptocurrency trading platform DSJ Exchange PTY Ltd may be fraudulent","type":"regulatory","url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"credibility":2,"name":"BehindMLM — HQI Exchange fraud warning from Washington","type":"news_article","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"}]},{"content":"HQI Exchange operates as what analysts describe as a 'click a button' Ponzi scheme. Members deposit a minimum of 100 USDT and receive fabricated 'daily passive returns' by clicking buttons within a mobile app or web interface that purportedly executes trading signals. No actual trading or investment activity has been identified; the platform offers no retailable products or services, and membership recruitment is the sole means of income for participants. The platform allegedly uses the same cookie-cutter website and app source code as predecessor schemes, with at least one instance documented where developers failed to replace placeholder text with the HQI Exchange branding, indicating mass-produced fraud infrastructure. Victims of the collapsed BG Wealth / DSJ Exchange are specifically targeted: they are allegedly told their frozen balances have been 'migrated' to HQI Exchange's infrastructure and that a mandatory 100 USDT activation deposit is required to release those funds. This is the defining characteristic of an advance-fee fraud. Reports indicate victims were given a deadline of May 18, 2026, and threatened that their BG Wealth balances would be permanently deleted if they did not enroll and pay by that date.","heading":"Scheme Structure and Mechanics","severity":"critical","sources":[{"credibility":2,"name":"BehindMLM — HQI Exchange Review: Trading signals 'click a button' Ponzi","type":"research","url":"https://behindmlm.com/mlm-reviews/hqi-exchange-review-trading-signals-click-a-button-ponzi/"},{"credibility":2,"name":"BehindMLM — HQI Exchange fraud warning from Washington","type":"news_article","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"},{"credibility":2,"name":"De Hek — HQI Exchange (HQIEX) Scam Exposed: BG Wealth Sharing's New Click-A-Button Trading Ponzi","type":"research","url":"https://www.dehek.com/general/scam-fraud-investigations/hqi-exchange-hqiex-scam-exposed-bg-wealth-sharings-new-click-a-button-trading-ponzi/"}]},{"content":"HQI Exchange is alleged to be a direct continuation of the BG Wealth Sharing / DSJ Exchange scheme, which operated from mid-2025 until its collapse in late April and early May 2026. BG Wealth Sharing claimed to be 'the world's largest hedge fund' and was fronted by a self-proclaimed professor, 'Stephen Beard,' whom investigators have assessed to be a fictitious AI-generated persona. The associated trading platform, DSJ Exchange PTY Ltd, was incorporated in Colorado using a generic PostNet mailing address, with registration dates inconsistent with the scheme's claimed founding history. The scheme attracted an estimated $150 million from investors globally before collapsing. In its final phase, DSJ operators demanded a 12% 'IPO tax' on all account balances — a classic exit-scam mechanic — before freezing withdrawals entirely. According to CryptoTimes and BehindMLM, the same promoters who recruited users into BG Wealth subsequently redirected those victims toward HQI Exchange, using established Telegram and Bonchat relationships to maintain psychological trust. The Washington State DFI alert explicitly connects HQI Exchange to this predecessor fraud ecosystem.","heading":"Connection to BG Wealth Sharing and DSJ Exchange","severity":"critical","sources":[{"credibility":1,"name":"Washington State DFI — BG Wealth Sharing / DSJ Exchange alert","type":"regulatory","url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"credibility":2,"name":"CryptoTimes — How BG Wealth and DSJ Exposed the New Pipeline Model Behind 2026 Crypto Fraud","type":"news_article","url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"},{"credibility":2,"name":"Phemex News — DSJ Exchange Ponzi Scheme Collapses, $150 Million Involved","type":"news_article","url":"https://phemex.com/news/article/dsj-exchange-ponzi-scheme-collapses-150-million-involved-78808"},{"credibility":2,"name":"Coinpedia — ZachXBT Helps Freeze $41.5 Million After $150 Million Crypto Ponzi Scheme Collapses","type":"news_article","url":"https://coinpedia.org/news/zachxbt-helps-freeze-41-5-million-after-150-million-crypto-ponzi-scheme-collapses/"}]},{"content":"An initial batch of twenty-nine domains associated with HQI Exchange was registered in March and May 2026, all privately registered. The primary domain hqiex.com was registered March 13, 2026, alongside hqi2.com through hqi12.com. A second batch comprising hqi15.com through hqi38.com was registered around May 3, 2026. The algorithmic naming pattern suggests additional domains exist beyond those publicly identified. Following fraud detection by Cloudflare resulting in domain disablement, operators allegedly shifted to '/h5' subdirectory paths (e.g., hqi15.com/h5/ios#/home) to continue operations. Related BG Wealth reboot activity also shifted between domains including bgwealthltd.5624.eu and bgwealthltd.7324.app during the same period. This domain proliferation and rapid migration behavior is consistent with patterns observed across other 'click a button' Ponzi schemes attributed to Chinese organized crime syndicates operating from Southeast Asia.","heading":"Domain Infrastructure and Evasion Tactics","severity":"high","sources":[{"credibility":2,"name":"BehindMLM — HQI Exchange Review: Trading signals 'click a button' Ponzi","type":"research","url":"https://behindmlm.com/mlm-reviews/hqi-exchange-review-trading-signals-click-a-button-ponzi/"},{"credibility":2,"name":"BehindMLM — HQI Exchange fraud warning from Washington","type":"news_article","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"}]},{"content":"HQI Exchange does not disclose any ownership, executive, or corporate registration information on any of its domains. No verifiable legal entity has been identified as the operator of the platform. This anonymity is consistent across the broader scheme family: BG Wealth Sharing was incorporated in Colorado using a generic PostNet mailing address, and DSJ Exchange PTY Ltd listed temporary office rental space with registration dates inconsistent with claimed founding periods. False SEC licensing claims were associated with BG Wealth Sharing, and a Form D filing associated with BG Wealth lacked SEC validation. No equivalent registration or licensing has been identified for HQI Exchange.","heading":"Ownership and Registration","severity":"high","sources":[{"credibility":1,"name":"Washington State DFI — BG Wealth Sharing / DSJ Exchange alert","type":"regulatory","url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"credibility":2,"name":"BehindMLM — HQI Exchange Review: Trading signals 'click a button' Ponzi","type":"research","url":"https://behindmlm.com/mlm-reviews/hqi-exchange-review-trading-signals-click-a-button-ponzi/"}]},{"content":"The DSJ Exchange / BG Wealth Sharing scheme attracted fraud warnings from thirteen regulatory bodies across five continents prior to its May 2026 collapse. On-chain investigator ZachXBT identified the collapse while reviewing USDD contract flows and collaborated with Tether, Binance's security team, OKX, and US law enforcement. Between April 27 and May 3, 2026, approximately $92 million in funds were laundered across Tron and Solana networks using token swaps, cross-chain bridges (Bridgers, Butter Network, USDT0), and consolidation across hundreds of addresses, with approximately $63 million flowing to custody provider Cobo. Total frozen assets reached $41.5 million: $38.4 million frozen by Tether on May 4, and $3.1 million by exchange partners. An estimated $100 million or more remains unrecovered. The FBI seized the bgwealthsharing.com domain under Operation Level Up in April 2026, an operation that reportedly produced 276 arrests across nine compounds and restrained over $701 million in connected cryptocurrency. HQI Exchange launched concurrently with or immediately following these enforcement actions, suggesting a deliberate strategy to re-engage victims before enforcement-driven momentum subsided.","heading":"Broader Enforcement Context","severity":"high","sources":[{"credibility":2,"name":"CryptoTimes — $41.5 Million Frozen: Inside the Takedown of the DSJ Exchange Ponzi Scheme","type":"news_article","url":"https://www.cryptotimes.io/2026/05/06/41-5-million-frozen-inside-the-takedown-of-the-dsj-exchange-ponzi-scheme/"},{"credibility":2,"name":"Coinpedia — ZachXBT Helps Freeze $41.5 Million After $150 Million Crypto Ponzi Scheme Collapses","type":"news_article","url":"https://coinpedia.org/news/zachxbt-helps-freeze-41-5-million-after-150-million-crypto-ponzi-scheme-collapses/"},{"credibility":2,"name":"CryptoTimes — How BG Wealth and DSJ Exposed the New Pipeline Model Behind 2026 Crypto Fraud","type":"news_article","url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"},{"credibility":2,"name":"TradingView / NewsBTC — $150M Crypto Ponzi Crumbles: $41.5M Frozen In DSJ Exchange Collapse","type":"news_article","url":"https://www.tradingview.com/news/newsbtc:a95a9eb46094b:0-150m-crypto-ponzi-crumbles-41-5m-frozen-in-dsj-exchange-collapse/"}]},{"content":"HQI Exchange is specifically designed to prey on individuals who have already suffered losses in the BG Wealth / DSJ Exchange scheme, a pattern consistent with a 'continuation scam' or 'recovery advance fee' fraud. Investigators and the Washington State DFI documented three primary psychological mechanisms used to re-engage victims: (1) sunk cost exploitation, with victims desperate to recover prior losses; (2) parasocial trust built over months through personal 'mentor' relationships on Telegram and Bonchat, where mentors positioned themselves as fellow victims while simultaneously directing migration to HQI; and (3) manufactured urgency, including a stated May 18, 2026 deadline and threats that BG Wealth account balances would be permanently deleted unless victims enrolled and paid the migration fee. The DFI explicitly noted that individuals who paid the prior DSJ Exchange 'tax' were still unable to withdraw funds, reinforcing that payment of fees does not result in fund recovery.","heading":"Victim Re-Targeting and Psychological Tactics","severity":"critical","sources":[{"credibility":1,"name":"Washington State DFI — BG Wealth Sharing / DSJ Exchange alert","type":"regulatory","url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"credibility":2,"name":"BehindMLM — HQI Exchange fraud warning from Washington","type":"news_article","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"},{"credibility":2,"name":"CryptoTimes — How BG Wealth and DSJ Exposed the New Pipeline Model Behind 2026 Crypto Fraud","type":"news_article","url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"}]},{"content":"Multiple third-party websites have emerged offering 'HQI Exchange scam recovery' services. These services are themselves likely fraudulent, following a well-documented pattern in which a primary scam generates a secondary layer of recovery fraud targeting the same victims. The Washington State DFI does not endorse any private recovery service. Victims in the United States are directed to file reports with the FBI Internet Crime Complaint Center (ic3.gov) and with their relevant state financial regulator.","heading":"Recovery Scam Warning","severity":"medium","sources":[{"credibility":2,"name":"BehindMLM — HQI Exchange fraud warning from Washington","type":"news_article","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"}]}],"sources_used":[{"credibility":1,"name":"Washington State DFI — Alleged investment group BG Wealth Sharing LTD and cryptocurrency trading platform DSJ Exchange PTY Ltd may be fraudulent","type":"regulatory","url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"credibility":2,"name":"BehindMLM — HQI Exchange fraud warning from Washington","type":"news_article","url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"},{"credibility":2,"name":"BehindMLM — HQI Exchange Review: Trading signals 'click a button' Ponzi","type":"research","url":"https://behindmlm.com/mlm-reviews/hqi-exchange-review-trading-signals-click-a-button-ponzi/"},{"credibility":2,"name":"De Hek — HQI Exchange (HQIEX) Scam Exposed: BG Wealth Sharing's New Click-A-Button Trading Ponzi","type":"research","url":"https://www.dehek.com/general/scam-fraud-investigations/hqi-exchange-hqiex-scam-exposed-bg-wealth-sharings-new-click-a-button-trading-ponzi/"},{"credibility":2,"name":"CryptoTimes — How BG Wealth and DSJ Exposed the New Pipeline Model Behind 2026 Crypto Fraud","type":"news_article","url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"},{"credibility":2,"name":"CryptoTimes — $41.5 Million Frozen: Inside the Takedown of the DSJ Exchange Ponzi Scheme","type":"news_article","url":"https://www.cryptotimes.io/2026/05/06/41-5-million-frozen-inside-the-takedown-of-the-dsj-exchange-ponzi-scheme/"},{"credibility":2,"name":"CryptoTimes — How DSJ Exchange Operated for 12 Months Despite Warnings from 13 Regulators","type":"news_article","url":"https://www.cryptotimes.io/2026/05/07/how-dsj-exchange-operated-for-12-months-despite-warnings-from-13-regulators/"},{"credibility":2,"name":"Coinpedia — ZachXBT Helps Freeze $41.5 Million After $150 Million Crypto Ponzi Scheme Collapses","type":"news_article","url":"https://coinpedia.org/news/zachxbt-helps-freeze-41-5-million-after-150-million-crypto-ponzi-scheme-collapses/"},{"credibility":2,"name":"Phemex News — DSJ Exchange Ponzi Scheme Collapses, $150 Million Involved","type":"news_article","url":"https://phemex.com/news/article/dsj-exchange-ponzi-scheme-collapses-150-million-involved-78808"},{"credibility":2,"name":"TradingView / NewsBTC — $150M Crypto Ponzi Crumbles: $41.5M Frozen In DSJ Exchange Collapse","type":"news_article","url":"https://www.tradingview.com/news/newsbtc:a95a9eb46094b:0-150m-crypto-ponzi-crumbles-41-5m-frozen-in-dsj-exchange-collapse/"},{"credibility":2,"name":"Kaniva Tonga News — BG Wealth investors warned against paying more as authorities flag new HQIEX platform","type":"news_article","url":"https://kanivatonga.co.nz/2026/05/bg-wealth-investors-warned-against-paying-more-as-authorities-flag-new-hqiex-platform/"},{"credibility":2,"name":"De Hek Substack — HQI Exchange (HQIEX) Scam Exposed: BG Wealth Sharing's New Click-A-Button Trading Ponzi","type":"research","url":"https://dehek.substack.com/p/hqi-exchange-hqiex-scam-exposed-bg"}],"summary":"HQI Exchange (HQIEX) is an alleged advance-fee continuation scam formally identified by the Washington State Department of Financial Institutions in May 2026. It targets victims of the collapsed BG Wealth Sharing / DSJ Exchange Ponzi scheme, which involved an estimated $150 million in losses, by falsely claiming that frozen balances can be recovered by paying a new 'migration fee' of at least 100 USDT to activate an account on the new platform. No legitimate trading activity, disclosed ownership, or regulatory registration has been identified.","timeline":[{"date":"2025-01-01","event":"BG Wealth Sharing launches, promoting itself as 'the world's largest hedge fund' with a fictitious CEO persona 'Professor Stephen Beard'. DSJ Exchange serves as the associated trading platform.","source":"BehindMLM / Washington State DFI","source_url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"date":"2026-03-13","event":"HQI Exchange domain hqiex.com and associated domains hqi2.com through hqi12.com are privately registered — while the BG Wealth / DSJ scheme is still active.","source":"BehindMLM — HQI Exchange Review","source_url":"https://behindmlm.com/mlm-reviews/hqi-exchange-review-trading-signals-click-a-button-ponzi/"},{"date":"2026-04-01","event":"Washington State DFI issues original fraud alert against BG Wealth Sharing LTD and DSJ Exchange PTY Ltd.","source":"Washington State DFI","source_url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"date":"2026-04-27","event":"DSJ Exchange begins laundering approximately $92 million across Tron and Solana networks ahead of collapse.","source":"Coinpedia / ZachXBT","source_url":"https://coinpedia.org/news/zachxbt-helps-freeze-41-5-million-after-150-million-crypto-ponzi-scheme-collapses/"},{"date":"2026-04-27","event":"FBI seizes bgwealthsharing.com under Operation Level Up. Operation produces 276 arrests across nine compounds and restrains over $701 million in connected cryptocurrency.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"},{"date":"2026-05-02","event":"BG Wealth Sharing collapses. Operators have demanded a 12% 'IPO tax' on all account balances in a final exit-scam maneuver.","source":"BehindMLM / CryptoTimes","source_url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"},{"date":"2026-05-03","event":"Second batch of HQI Exchange domains (hqi15.com through hqi38.com) registered, expanding the platform's operational infrastructure.","source":"BehindMLM — HQI Exchange Review","source_url":"https://behindmlm.com/mlm-reviews/hqi-exchange-review-trading-signals-click-a-button-ponzi/"},{"date":"2026-05-04","event":"Tether freezes $38.4 million in USDT on TRON associated with DSJ Exchange operations. Total frozen assets reach $41.5 million across Tether, Binance, and OKX.","source":"Coinpedia","source_url":"https://coinpedia.org/news/zachxbt-helps-freeze-41-5-million-after-150-million-crypto-ponzi-scheme-collapses/"},{"date":"2026-05-04","event":"Washington State DFI updates its BG Wealth / DSJ alert to address advance fee scam allegations, noting victims were unable to withdraw even after paying the 12% tax.","source":"Washington State DFI","source_url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"date":"2026-05-15","event":"Washington State DFI issues a third update to its alert, formally naming HQI Exchange as the platform to which BG Wealth victims are being directed and warning against depositing further funds.","source":"Washington State DFI","source_url":"https://dfi.wa.gov/alerts/alleged-investment-group-bg-wealth-sharing-ltd-and-cryptocurrency-trading-platform-dsj"},{"date":"2026-05-16","event":"CryptoTimes publishes analysis of the BG Wealth / DSJ / HQI pipeline model, identifying a seven-stage fraud replication pattern and naming HQI Exchange and Swift Wave Capital as active successor platforms.","source":"CryptoTimes","source_url":"https://www.cryptotimes.io/2026/05/16/bg-wealth-dsj-swift-wave-crypto-pipeline/"},{"date":"2026-05-18","event":"Alleged deadline given to BG Wealth victims: pay 100 USDT migration fee to HQI Exchange by this date or lose access to frozen balances permanently.","source":"BehindMLM — HQI Exchange fraud warning from Washington","source_url":"https://behindmlm.com/companies/click-a-button-app-ponzis/hqi-exchange-fraud-warning-from-washington/"}]},"v":1}

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