Getting WhatsApp messages about guaranteed crypto profits?
Someone showing you their DSJ Exchange account balance growing daily?
Before you invest even ₹1,000, read this.
What we found could save your hard-earned money.
What is DSJ Exchange?
DSJ Exchange markets itself as a cryptocurrency trading platform. They claim to be London-based and fully regulated.
Sounds legit, right?
However, reality tells a different story. According to BehindMLM’s investigation, DSJ Exchange operates as a “click-a-button” Ponzi scheme connected to BG Wealth Sharing (also called BG-168).
There’s no actual crypto trading happening behind the scenes. Instead, users log in through the DSJ Exchange login, paste random 6-character codes into the app, click a few buttons, and watch “profits” magically appear on the screen.
No live market activity. No blockchain transactions. Zero real trades.
Is DSJ Exchange Legal?
Let’s talk about licenses. This matters more than anything else.
SEBI Status – DSJ Exchange has zero registration with SEBI. None whatsoever.
This means Indian investors have no legal protection. No complaint mechanism. No fund recovery options.
UK Financial Conduct Authority (FCA) – On May 7, 2025, the FCA officially blacklisted DSJ Exchange.
According to the FCA warning, the platform operates without authorization. They list Telegram accounts @BG_Stephen and @Elena1992818 as contact points.
That’s concerning, right?
Professional exchanges don’t run through personal Telegram accounts.
- New Zealand FMA: According to the Traders Union, New Zealand’s Financial Markets Authority blacklisted dsjoo.com on April 25, 2025.
The charges? Market manipulation, fraud, and impersonation.
- ASIC License Claim: DSJ Exchange fraudulently displays fake ASIC licensing credentials on their website, while Australia’s official regulator has blacklisted them as an unlicensed entity operating illegally.
How DSJ Exchange Actually Works?
Understanding the mechanics reveals everything. According to BehindMLM’s detailed analysis, here’s the real operation:
- The Setup – Scammers contact you via WhatsApp or Telegram. They show screenshots of profits. Promise daily returns of 1.3% to 2.6%.
- The Hook – You deposit USDT (Tether cryptocurrency). Receive trading signals through messaging apps. Enter codes into the DSJ app.
- The Illusion – Your screen shows profits accumulating. Small withdrawals work initially. This builds trust deliberately.
- The Reality – According to BehindMLM, no actual trading occurs. Your deposits fund earlier investors’ withdrawals. Classic Ponzi structure.
When withdrawal requests exceed new deposits? The platform disappears. Accounts freeze. Money vanishes.
Is DSJ Exchange Safe?
Multiple red flags expose this operation.
Let’s examine each one:
- Constantly Changing Domains
According to BehindMLM’s domain research, DSJ operates across multiple URLs. These include dsj58, dsjex, dsj011, dsjex112, dsjzn, and more.
Legitimate businesses maintain stable websites. Scammers rotate domains to evade detection. Each shutdown means a fresh domain. Same scam, new address.
- Anonymous Operations
According to the FCA, DSJ lists:
- Address: N/A
- Phone: N/A
- Email: N/A
- Management: N/A
Real companies proudly display credentials. Fraudsters hide behind anonymity.
- Fake Founder Identity
According to BehindMLM’s investigation, DSJ promotes “Professor Stephen Beard” as founder. Claims he’s a former Gemini Exchange executive.
Problem? No such person exists. No verifiable history. Complete fabrication.
- Telegram Group Operations
According to multiple sources, DSJ operates primarily through anonymous Telegram channels. Professional crypto exchanges use regulated platforms. Registered apps. Official support systems.
Why would a “global exchange” run through messaging apps? Simple answer: they wouldn’t.
- The Withdrawal Trap
According to multiple victim reports documented across review platforms, the pattern remains identical:
- Small deposits work fine initially
- First withdrawal succeeds (₹5,000-₹10,000)
- The platform encourages larger deposits
- Big withdrawal requests trigger “tax fees.”
- Additional fees lead nowhere
- Account freezes permanently
This indicates systematic fraud. Not technical issues.
6. Connection to BG Wealth Sharing Ponzi
According to BehindMLM’s comprehensive investigation, DSJ Exchange directly links to BG Wealth Sharing. Same operators. Identical structure. Connected fraud network.
The BG-168 Structure – According to their analysis:
- Operates through the BonChat messaging app
- Delivers fake trading signals
- Features seven promoter ranks
- Emphasizes recruitment over trading
According to Danny de Hek’s deep-dive investigation, BG Wealth Sharing shows all classic Ponzi collapse signs.
Withdrawal freezes begin, excuses multiplying. Victims accumulating.
The operators are already preparing the next domain. Next identical scam.
How to File Cryptocurrency Complaints in India?
Lost money due to such crypto scams?
Report trading scams immediately through these channels:
- File a Cyber Crime complaint – At the National Cyber Crime Portal, select “Financial Fraud.” File under “Online Investment Fraud.” Include all evidence.
- Lodge a complaint with SEBI – Access SEBI SCORES platform. Report unauthorized trading platform. Mention zero SEBI registration.
- Economic Offences Wing – For losses exceeding ₹1 lakh. Visit your state’s EOW office. Bring printed evidence.
- Local Police – File FIR at the nearest cyber cell. Document everything comprehensively.
Include: Platform domains used, Telegram contacts, deposit transactions, withdrawal attempts, recruitment chain details, and all screenshots.
Need Help?
Facing DSJ Exchange fraud? Already deposited money?
Struggling with a blocked DSJ Exchange withdrawal?
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Conclusion
Is DSJ Exchange a scam? Yes. Absolutely. Unquestionably.
Multiple international regulators confirmed this. FCA blacklisted it. FMA warned against it. SEBI never authorized it.
According to BehindMLM’s investigation, zero actual trading occurs. According to victim testimonials, withdrawal requests systematically fail.
The evidence overwhelms any doubt. DSJ Exchange operates as a Ponzi scheme. Uses fake trading signals. Employs a fictional founder identity. Rotates domains constantly. Freezes accounts eventually.
For Indian investors specifically, the risks multiply. No SEBI protection. No fund recovery mechanisms.
Protect yourself now. Warn the family immediately. If affected, report quickly. Your swift action might prevent someone else’s loss.
Remember this always: Legitimate crypto exchanges don’t operate through Telegram. Don’t use fake identities. Don’t freeze withdrawals.
DSJ Exchange does all these things. That answers everything.
