Washington's Department of Financial Institutions Warns Against HQI Exchange
The Washington Department of Financial Institutions (DFI) has issued a fraud warning concerning the recently launched HQI Exchange. This alert specifically targets investors who were previously involved with BG Wealth Sharing, a company that has recently come under scrutiny for its questionable practices.
Concerns About Investor Safety
As of May 15th, DFI has reported that BG Wealth investors are being urged to transfer their assets from the troubled DSJ Exchange to the new platform, HQI Exchange. Alarmingly, these investors are prompted to deposit additional funds, supposedly to facilitate the migration of their investments. However, many who have already complied with previous demands for a “tax” have found themselves unable to withdraw their funds.
This situation raises significant red flags for the MLM community and potential investors. The DFI strongly advises caution, urging BG Wealth investors not to send any more money to BG Wealth or any of its affiliates.
Background on BG Wealth Sharing
BG Wealth Sharing launched in January 2025 and quickly garnered attention, attracting a large number of participants, particularly from the US, Canada, Tonga, and Samoa. However, the scheme collapsed in late April 2026, leaving many investors in the lurch. The “tax” mentioned by DFI refers to a 12% exit fee that the company used as part of its operations before it ceased functioning.
After the collapse of BG Wealth Sharing, the scammers behind this operation attempted to revive interest by demanding additional payments, such as a $1,000 charge to transition to the HQI Exchange.
HQI Exchange: A Clone Scheme?
There's growing concern that HQI Exchange operates as a mere rebranding of BG Wealth Sharing. The platform solicits investments starting at 100 USDT, promoting itself as a recovery option for BG Wealth investors. According to the messages circulating among investors, those who do not sign up for HQI Exchange by May 18th risk losing their alleged balances, which, as many fear, may not exist at all.
Reports have indicated that several HQI Exchange domains have already been shut down or flagged for fraud within just the past 48 hours. This increases the urgency for investors to scrutinize any claims made by such platforms.
A Pattern of Scams
Simultaneously, another fraudulent operation has emerged under the name “bgwealthltd.5624.eu,” which appears to be another reboot of the BG Wealth Sharing scam. This trend demonstrates a recurring issue within the MLM space, where schemes often rebrand themselves to lure unsuspecting investors back into the fold.
What This Means
The DFI's warning serves as a critical reminder for MLM investors to conduct thorough due diligence before investing. With similar schemes continuously resurfacing, the risk of falling victim to fraud remains high. For existing investors in BG Wealth and those considering HQI Exchange, the advice is clear: protect your assets and remain cautious.
What to Watch For Next
Investors should keep an eye on any updates from the DFI regarding HQI Exchange and related schemes. Additionally, watch for further developments in the ongoing investigation into BG Wealth Sharing and its affiliates, as they may provide more insights into the methods used by these scammers. Awareness is key to safeguarding your investments in this challenging landscape.
