The SEC is finally taking action: fake filings, fake seals, and a $130 million scheme headed to court.
Here’s what happened: On October 29, the SEC formally sued BG Wealth Sharing and DSJ Exchange, accusing the companies of using crypto trading “signals” to lure tens of thousands of retail investors between October 2025 and June 2026, raising more than $130 million across over 40 states and territories.
The most outrageous trick: They first submitted fake Form ADV and Form D filings to the SEC (the forms filed with regulators), then showed investors the public filing records to pose as “officially certified.” They even displayed fake certificates bearing the SEC seal.
The complaint has been filed in federal court in the Northern District of California. The SEC is seeking a permanent injunction, disgorgement of ill-gotten gains, and civil penalties.
My take: If they can forge documents, they’re not exploiting greed—they’re exploiting people’s trust in anything labeled “official.” That’s far worse than hyping a token.
What I’ll do: From now on, whenever a project touts being “filed with the SEC,” I’ll check it out on Investor.gov first. If they only show screenshots and I can’t verify it, I’m out.
Which kind of scam worries you more: A) openly promising high returns, or B) using fake official documents to look legitimate?
$BTC $ETH $SOL
#SEC #CryptoRegulation
Here’s what happened: On October 29, the SEC formally sued BG Wealth Sharing and DSJ Exchange, accusing the companies of using crypto trading “signals” to lure tens of thousands of retail investors between October 2025 and June 2026, raising more than $130 million across over 40 states and territories.
The most outrageous trick: They first submitted fake Form ADV and Form D filings to the SEC (the forms filed with regulators), then showed investors the public filing records to pose as “officially certified.” They even displayed fake certificates bearing the SEC seal.
The complaint has been filed in federal court in the Northern District of California. The SEC is seeking a permanent injunction, disgorgement of ill-gotten gains, and civil penalties.
My take: If they can forge documents, they’re not exploiting greed—they’re exploiting people’s trust in anything labeled “official.” That’s far worse than hyping a token.
What I’ll do: From now on, whenever a project touts being “filed with the SEC,” I’ll check it out on Investor.gov first. If they only show screenshots and I can’t verify it, I’m out.
Which kind of scam worries you more: A) openly promising high returns, or B) using fake official documents to look legitimate?
$BTC $ETH $SOL
#SEC #CryptoRegulation
