While BG Wealth Sharing continues to string investors along with daily updates that contradict each other, a clearer picture of the scam has emerged as a result of two arrests.

As part of a multinational effort to tackle Chinese scam centers in southeast Asia, the Shunda Park compound in Myanmar was shut down in November 2025.

The “Shunda” industrial park in Myanmar was shut down by the Karen National Liberation Army (KNLA). As reported by Hannah Beech for the New York Times in January 2026;

The scam center, Shunda Park, opened for business in 2024 with more than 3,500 workers from nearly 30 nations, including Namibia, Russia, Zimbabwe and France.

Some had been kidnapped and enslaved, but all had become skilled in the art of the online grift.

When the scammers bilked $5,000 out of someone, they struck a Chinese gong. A $50,000 shakedown earned a celebratory pounding of a giant drum, then an offering to a Chinese deity resplendent in his golden altar.

Victims were not just lonely hearts or technologically timid retirees. Using generative intelligence and deepfake videos, as well as fraudulent businesses, websites and financial apps, the scammers at Shunda embraced the long con and reeled in people from almost every demographic.

Other than an unnamed “Chinese boss” handed over to Thai authorities, there don’t appear to have been any other significant arrests. Pretty remarkable considering Shunda Park housed 3500 workers overseen by an unknown number of gang members.

Two Chinese gang members able to escape were Huang Xingshan and Jiang Wen Jie. Xingshan and Jie fled to Cambodia where they resumed operations. One of those operations was BG Wealth Sharing, a “click a button” app Ponzi launched in January 2025.

As part of circumstances that are unclear, Xingshan and Jie made periodic trips to neighboring Thailand. Sometime between November 2025 and April 2026, Xingshan and Jie were arrested on immigration fraud charges in Thailand.

On April 23rd, 2026, a US court unsealed wire fraud criminal charges filed against Xingshan and Jie.

The FBI also seized 503 domains associated with “fake investment websites’, one of which was BG Wealth Sharing’s original website domain.

It is unclear whether Xingshan and Jie will be extradited to the US. Both remain fugitives wanted by US authorities.

Meanwhile back in Cambodia, BG Wealth Sharing went on to collapse a few weeks later towards the end of April. Withdrawals were officially disabled on or around May 1st.

From April 27th, laundering of cryptocurrency stolen from BG Wealth Sharing investors went into overdrive. A joint initiative between ZachXBT, US authorities and several cryptocurrency exchanges, has seen $41.5 million frozen.

Officially $50.5 million laundered since April 27th remains unaccounted for. The actual amount laundered is believed to be much higher.

While efforts to secure funds stolen through BG Wealth Sharing continue, the Chinese criminal gang in Cambodia stalls by feeding investors daily baloney updates. Recent updates suggest a war might have broken out with a rival Chinese gang – but it’s difficult to tell the smoke from the mirrors.

BG Wealth Sharing’s initial exit-scam was a 12% fake taxes fee. While desperate victims paid the fee and suspect withdrawal proofs began appearing on social media, less than 24 hours later the ruse was officially abandoned.

On May 3rd fictional CEO Stephen Beard announced on Telegram that BG Wealth Sharing and its BonChat communication channels had been hacked.

BG Wealth Sharing’s “fake taxes” exit-scam was now unironically a purported hoax.

Beard is believed to be a scam compound worker behind an deepfake AI face filter. A European with an atrocious UK accent, either trapped in Cambodia or working remotely from Thailand.

Nonetheless, BG Wealth Sharing promoters have been able to and remain urged to pay the 12% fake taxes fee through BG Wealth Sharing’s app.

Meanwhile a new Stephen Beard has appeared on Telegram. The second Stephen Beard insists everything taking place on BonChat, including the ongoing 12% fake taxes exit-scam, is a hoax perpetrated by “Chinese hackers”.

On May 4th “Elena”, another fictional BG Wealth Sharing admin identity, claimed the “hackers from China are already identified’.

“Elena” further claimed “Joseph Smith”, BG Wealth Sharing’s fictional COO, would “file a case against them with the police”.

In an attempt to provide further evidence they were under attack by a rival Chinese criminal group, themselves or whoever, on May 5th the second Telegram Stephen Beard offered up this amusingly fabricated extortion exchange:

BG Wealth Sharing’s fake taxes exit-scam is set to expire on May 7th. As of yet we’re not sure if the original scammers will extend the deadline or just stop communicating.

The second Telegram Stephen Beard hatched his new recovery scam on May 6th (note DSJ refers to DSJEX, a fake crypto exchange attached to BG Wealth Sharing);

Dear members,

Thank you for your trust and support for the DSJ platform. We hereby solemnly announce:

Due to a serious merchant security incident of DSJ Platform, the DSJ has officially terminated all cooperation with the said merchant out of a high degree of responsibility for the safety of members’ funds and the stability of future development.

We understand that some members have suffered varying degrees of financial losses on the DSJ platform. We will not evade or shirk responsibility for this.

Please rest assured that the money you lost in DSJ will be led to you to earn it back through the newly BG Wealth Sharing LTD. project.

The “new” BG Wealth Sharing has been set up on the subdomain “bgwsltdxx.dgy.one”. The root “dgy.one” domain was privately registered on April 30th, 2026.

The “new” BG Wealth Sharing website doesn’t use the standard “click a button” app Ponzi website source-code.

CloudFlare, presumably working with authorities, had been flagging BG Wealth Sharing’s daily rotation of new domains due to fraud.

The “new” BG Wealth Sharing reboot has been put behind Ultra.cc, “the marketing name of SlashN Services Pte. Ltd. for apps platform-based services.”

Contact details on Ultra.cc’s website point to a “registered office” in Singapore. It’s unclear whether Ultra.cc is aware it’s been dragged into the BG Wealth Sharing Ponzi mess.

On the money side of things, the “new” BG Wealth Sharing reboot is more of the same;

Needless to say whether BG Wealth Sharing investors pay the 12% “fake taxes” exit-scam fee, or sign up for the “new” BG Wealth Sharing reboot, any additional funds handed over will add to existing losses.

As the power struggle between the rival Chinese criminal gangs continues (or elaborate ruse by the same gang to intentionally sow confusion), stay tuned for any updates below.

 

Update 7th May 2026 – BG Wealth Sharing has extended its “fake taxes” exit-scam deadline to May 9th, 2026.