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Policy & Regulation

US Authorities Dismantle $150 Million Crypto Scam: Operation Level Up Succeeds

U.S. authorities, in a coordinated international effort, have successfully seized the domain of BG Wealth Sharing, a platform suspected of orchestrating a massive cryptocurrency investment scam. The operation, dubbed 'Operation Level Up,' has frozen over $41 million in assets and traced significant attempted transfers.

By BitBulteni May 7, 2026

The recent success of 'Operation Level Up' by U.S. authorities, in collaboration with international partners and major crypto exchanges, marks a significant victory against sophisticated cryptocurrency fraud. The seizure of the BG Wealth Sharing domain highlights the increasing effectiveness of global law enforcement in combating digital asset scams. By tracing over $92 million in attempted transfers and freezing more than $41 million, the operation has demonstrably disrupted a large-scale advance-fee scheme. Victims reported being pressured to pay a dubious 12% 'tax' before an anticipated Initial Public Offering, a classic hallmark of such fraudulent operations. This coordinated takedown underscores the critical role of exchange cooperation, such as that provided by Tether, Binance, and OKX, in tracing illicit funds and apprehending perpetrators. The incident serves as a stark reminder to investors about the inherent risks in unregulated investment platforms and the importance of due diligence. As the digital asset landscape matures, regulatory bodies and law enforcement agencies are demonstrating a growing capacity to identify and neutralize these threats, offering a measure of protection to the broader market and its participants.

Tags crypto scamOperation Level Upasset seizureadvance-fee scamlaw enforcement

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