HQI Exchange has received a securities fraud warning from the Oklahoma Department of Securities (ODS).

As reported by Journal Record on June 15th;

The Oklahoma Department of Securities is warning investors about a suspected cryptocurrency fraud scheme that may be targeting Oklahoma residents.

The scheme involves BG Wealth Sharing Ltd and cryptocurrency trading platforms DSJ Exchange PTY Ltd and HQI Exchange.

The department says it is acting on complaints from partner state securities regulators and is urging Oklahoma investors to stop sending funds to the platforms immediately.

I did go looking for an official warning on ODS’ website but the alerts section hasn’t been updated since 2024.

HQI Exchange began as BG Wealth Sharing, a “click a button” app Ponzi run by Chinese scammers. BehindMLM has documented hundreds of the scams since they first emerged back in 2021.

BG Wealth Sharing was fronted by “Professor Stephen Beard”, played by an actor hiding behind an AI avatar.

DSJ Exchange (DSJEX) was a fake trading platform run by the same BG Wealth Sharing scammers.

The original iteration of BG Wealth Sharing collapsed in late April 2026. BG Wealth Sharing investors, most of whom are victims, were then subject to a “fake taxes” exit-scam.

After the “fake taxes” exit-scam, BG Wealth Sharing demanded an additional $1000 from each investor. The fee was announced and then dropped within 48 hours.

Next we had the launch of HQI Exchange in mid-May. HQI Exchange saw BG Wealth Sharing scammers swap out one fictitious exchange for another.

HQI Exchange was short-lived and collapsed by disabling withdrawals on May 31st.