Investors linked to the collapsed BG Wealth Sharing scheme—including many Tongans—are being urged to avoid sending further money after United States regulators flagged renewed efforts to extract funds through a replacement platform.
In a warning issued on May 15, 2026, the Washington State Department of Financial Institutions (DFI) said BG Wealth participants are reportedly being redirected from the former DSJ Exchange to a new platform called the HQI Exchange (HQIEX).
Investors are being told they must deposit additional funds to “move” their accounts.
The alert follows the collapse of BG Wealth, whose operations were disrupted after US authorities seized its internet domain. Many investors have since been unable to access their funds.
The DFI said it has received reports that some individuals had already paid so-called “tax” or withdrawal fees under the scheme, but still could not withdraw their investments.
Authorities are now warning that requests for additional payments are a common tactic used in fraudulent operations.
“Fraudulent digital asset platforms frequently perpetrate advance fee scams to steal additional funds from investors,” the DFI noted.
The regulator pointed to a similar case involving the alleged cryptocurrency schemes League of Whalefall and TX Exchange, where investors were told to pay a US$400 “verification fee” to prove their accounts were legitimate. Those who paid the fee were still unable to withdraw any money.
Authorities say such schemes often follow a predictable pattern. Key red flags include:
- Demands for additional payments to release or withdraw funds, often described as taxes, commissions or verification fees
- Requirements that fees be paid using external funds, not from existing account balances
- Pressure to pay by a deadline, with threats of losing the investment
The emergence of HQIEX has raised concerns that BG Wealth operators may be attempting to continue extracting funds under a new name, despite the collapse of the original platform.
Regulators are urging investors to exercise extreme caution and to avoid sending more money to BG Wealth or any associated entities.
As investigations continue, affected individuals are being encouraged to report their experiences and seek independent advice, as officials focus on preventing further losses.
