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{"actor":"system:backfill","investigation_id":"b5f38cf3-e16d-40df-8bed-f751036f15c7","kind":"publish","page_slug":"hyperfund-rodney-bitcoin-rodney-burton","published_at":"2026-06-27T12:14:25.991Z","sequence_num":1,"snapshot":{"content_type":"investigation","entity_name":"HyperFund / Rodney 'Bitcoin Rodney' Burton","sections":[{"content":"HyperFund launched in approximately June 2020, co-founded by Xue Samuel Lee (known as 'Sam' Lee), an Australian citizen based in Dubai, and Ryan Xu (also known as Zijing Xu). The platform sold 'memberships' to investors with a minimum purchase of approximately $300 USD, converting funds into internal tokens called 'HyperUnits.' Promotional materials promised investors passive daily returns of between 0.5% and 1% until their initial investment was either doubled or tripled. These returns were represented as coming from large-scale cryptocurrency mining operations that, according to DOJ and SEC allegations, did not in fact exist. The scheme employed a multi-level marketing structure, incentivizing existing members to recruit new investors and granting higher 'star rankings' based on recruitment success. U.S. authorities characterized investor withdrawals as being paid from new investor deposits — the defining structure of a Ponzi scheme. Chainalysis ranked HyperVerse as the largest cryptocurrency scam of 2022, with initial global investor loss estimates of approximately $1.3 billion. U.S. authorities later placed the total scale of fraud at $1.89 billion.","heading":"Scheme Overview and Structure","severity":"critical","sources":[{"credibility":1,"name":"DOJ: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":2,"name":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","type":"news_article","url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"credibility":1,"name":"DOJ Criminal Division: HyperFund and Associated Cases","type":"regulatory","url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"}]},{"content":"When HyperFund rebranded to HyperVerse in late 2021, a new CEO was presented to investors under the name 'Steven Reece Lewis.' The SEC's complaint alleges that HyperFund hired an actor to portray this fictitious CEO. The actor behind the persona was later identified as Stephen Harrison, a British freelance TV presenter residing in Thailand, who was reportedly paid approximately $7,500 (approximately 180,000 Thai Baht) for the role. Promotional materials attributed to 'Steven Reece Lewis' claimed credentials from the University of Leeds and the University of Cambridge, prior employment at Goldman Sachs, and the sale of a web development company to Adobe. Subsequent journalistic investigations revealed that universities, Goldman Sachs, and Adobe had no record of any person by that name. Harrison later publicly apologized and claimed he was unaware of the fraudulent nature of the scheme at the time of his engagement.","heading":"Fake CEO and Deceptive Leadership","severity":"critical","sources":[{"credibility":2,"name":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","type":"news_article","url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"credibility":2,"name":"TechTimes: HyperVerse Fake CEO Actor Apologizes for $1.3B Crypto Scam","type":"news_article","url":"https://www.techtimes.com/articles/300534/20240111/hyperverse-fake-ceo-actor-apologizes-1-3b-crypto-scam-claims.htm"},{"credibility":1,"name":"SEC Complaint: Xue Samuel Lee and Brenda Indah Chunga (PDF)","type":"court_filing","url":"https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-11.pdf"}]},{"content":"Beginning in approximately July 2021, HyperFund began blocking investor withdrawals, preventing participants from accessing their funds. The platform continued to cycle through rebranding — operating at various times as HyperFund, HyperTech, HyperCapital, HyperVerse, and HyperNation — while allegedly continuing to accept new investor funds. The scheme is alleged to have operated until approximately November 2022. Regulators across multiple jurisdictions issued warnings during this period, including financial authorities in Hungary, Canada, Germany, New Zealand, and the United Kingdom, all labeling HyperVerse a likely scam. Nepal's central bank issued a public advisory in January 2022 warning citizens to avoid cryptocurrency products promising high returns in short periods. Some investors in Nepal who had taken loans to fund their HyperVerse memberships reportedly experienced severe financial distress.","heading":"Collapse and Withdrawal Freeze","severity":"critical","sources":[{"credibility":1,"name":"DOJ Criminal Division: HyperFund and Associated Cases","type":"regulatory","url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"credibility":2,"name":"TechTimes: HyperVerse Scheme — Massive Losses Due to Crypto Scam Spark Regulatory Concerns","type":"news_article","url":"https://www.techtimes.com/articles/300916/20240123/hyperverse-scheme-massive-losses-due-crypto-scam-spark-regulatory-concerns.htm"}]},{"content":"On January 29, 2024, the U.S. Department of Justice unsealed criminal charges against Sam Lee, Rodney Burton, and Brenda Chunga for their alleged roles in the HyperFund scheme. Sam Lee was charged with one count of conspiracy to commit securities fraud and wire fraud. Rodney Burton was initially charged with operating and conspiring to operate an unlicensed money transmitting business. Brenda Chunga (also known as 'Bitcoin Beautee') was charged with one count of conspiracy to commit securities fraud and wire fraud. All charges were filed in the U.S. District Court for the District of Maryland. Concurrently, the SEC filed a civil complaint against Lee and Chunga, alleging violations of the anti-fraud and registration provisions of the Securities Act of 1933 and the Securities Exchange Act of 1934, including Rule 10b-5. The SEC complaint characterized HyperFund membership interests as unregistered securities and alleged that the defendants knew or were reckless in not knowing that HyperFund was a pyramid scheme with no legitimate revenue source beyond new investor funds. The SEC sought permanent injunctive relief, disgorgement of ill-gotten gains, prejudgment interest, and civil penalties.","heading":"DOJ and SEC Charges (January 2024)","severity":"critical","sources":[{"credibility":1,"name":"SEC Press Release: SEC Charges Founder of $1.7 Billion HyperFund Crypto Pyramid Scheme and Top Promoter with Fraud","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-11"},{"credibility":1,"name":"DOJ: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"CNBC: DOJ and SEC Unveil Charges in $1.9 Billion HyperFund Cryptocurrency Fraud","type":"news_article","url":"https://www.cnbc.com/2024/01/29/doj-and-sec-unveil-charges-in-1point9-billion-cryptocurrency-fraud-scheme.html"},{"credibility":1,"name":"SEC Litigation Release LR-25933","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25933"}]},{"content":"Rodney Burton, 56, of Miami, Florida (also maintaining a residence in Prince George's County, Maryland), operated online under the alias 'Bitcoin Rodney.' Burton served as a significant promoter of HyperFund, leveraging a social media presence and appearing at industry events to attract investors to the platform. According to DOJ allegations, from June 2020 to May 2024, Burton promoted HyperFund and its successor platforms, operating multiple shell companies that purported to provide consulting services but functioned as unlicensed money transmitting businesses. A superseding indictment filed in 2025 escalated charges against Burton to include conspiracy to commit wire fraud, two counts of wire fraud, seven counts of money laundering, and one count of operating an unlicensed money transmitting business — charges carrying potential maximum penalties exceeding 20 years in prison on the most serious counts. The superseding indictment alleged that Burton spent HyperFund investor proceeds on luxury condominiums, sports cars, and a yacht. On June 15, 2026, Burton pleaded guilty in U.S. District Court in Maryland to one count of conspiracy to operate an unlicensed money transmitting business. He admitted to personally receiving at least $7,851,711 in proceeds from the scheme, including funds from HyperFund victim-investors located in Maryland. His sentencing is scheduled for July 23, 2026, before U.S. District Judge Richard D. Bennett, and he faces a maximum sentence of five years in federal prison on the count of conviction.","heading":"Rodney 'Bitcoin Rodney' Burton — Role and Criminal Proceedings","severity":"critical","sources":[{"credibility":1,"name":"DOJ District of Maryland: Miami Man Pleads Guilty to Conspiracy Charge Connected to Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/miami-man-pleads-guilty-conspiracy-charge-connected-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"DOJ District of Maryland: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/miami-man-indicted-federal-wire-fraud-conspiracy-charges"},{"credibility":2,"name":"The Block: 'Bitcoin Rodney' Pleads Guilty in $1.8 Billion Crypto Fraud Case","type":"news_article","url":"https://www.theblock.co/post/405197/bitcoin-rodney-pleads-guilty-in-1-8-billion-crypto-fraud-case"},{"credibility":2,"name":"The Block: 'Bitcoin Rodney' Faces Decades in Prison as Feds Add Wire Fraud to HyperFund Charges","type":"news_article","url":"https://www.theblock.co/post/382450/bitcoin-rodney-faces-decades-in-prison-as-feds-add-wire-fraud-to-hyperfund-charges"},{"credibility":2,"name":"Crypto Briefing: Florida Man Pleads Guilty in $1.89B HyperFund Crypto Fraud Case","type":"news_article","url":"https://cryptobriefing.com/bitcoin-rodney-hyperfund-crypto-fraud-guilty-plea/"},{"credibility":1,"name":"IRS Criminal Investigation: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/miami-man-indicted-on-federal-wire-fraud-conspiracy-charges"}]},{"content":"Brenda Chunga, 43, of Severna Park, Maryland, operated under the alias 'Bitcoin Beautee.' Chunga served as a key promoter, conducting online and in-person investor meetings in Maryland to pitch HyperFund's investment programs and purported returns. Her plea agreement and other court documents indicate she admitted to personally receiving at least $3 million in fraud proceeds. Court documents also indicate she spent a portion of those proceeds on luxury goods and real estate. Chunga pleaded guilty to one count of conspiracy to commit securities fraud and wire fraud, and separately agreed to settle the SEC's civil complaint against her. As part of the civil settlement, she agreed to disgorge ill-gotten gains and pay civil fines to be determined by the court. Her criminal sentencing was initially scheduled for June 29, 2026, but was rescheduled to January 7, 2027. She faces a maximum sentence of five years in prison on her criminal conviction.","heading":"Brenda 'Bitcoin Beautee' Chunga — Role and Criminal Proceedings","severity":"critical","sources":[{"credibility":1,"name":"DOJ District of Maryland: Three Individuals Charged In $1.89 Billion Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/three-individuals-charged-189-billion-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"DOJ Criminal Division: HyperFund and Associated Cases","type":"regulatory","url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"credibility":2,"name":"Insurance News Net: Former Severna Park Resident Pleads Guilty in HyperFund Crypto Scheme","type":"news_article","url":"https://insurancenewsnet.com/oarticle/former-severna-park-resident-pleads-guilty-in-what-feds-call-1-89-billion-hyperfund-crypto-scheme"}]},{"content":"Sam Lee, also known as Xue Samuel Lee, is an Australian citizen who co-founded HyperFund alongside Ryan Xu (also known as Zijing Xu). Lee was residing in Dubai, United Arab Emirates, at the time charges were filed. He was criminally indicted in the U.S. District Court for the District of Maryland on January 29, 2024, on one count of conspiracy to commit securities fraud and wire fraud, carrying a maximum penalty of five years in prison if convicted. In November 2024, Lee handed himself in to Dubai authorities following the issuance of an Interpol Red Notice. He was held at Al Aweer Central Prison in Dubai for approximately 60 days before being released. As of available reporting through mid-2026, no formal extradition to the United States has occurred. Lee subsequently gave a video interview to Bloomberg maintaining his innocence. Ryan Xu has not been named in U.S. federal court documents, and his whereabouts were reported as unknown as of early 2025. Australia's securities regulator ASIC has separately probed the related entity Blockchain Global, which was linked to both Sam Lee and Ryan Xu.","heading":"Sam Lee (Xue Samuel Lee) — Co-Founder Status and Arrest","severity":"critical","sources":[{"credibility":2,"name":"Business For Home: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud","type":"news_article","url":"https://www.businessforhome.org/2024/11/hyperfund-co-founder-sam-lee-arrested-in-dubai-for-1-8-billion-fraud/"},{"credibility":2,"name":"Behind MLM: Sam Lee Detained in Dubai on Interpol Arrest Warrant","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/sam-lee-detained-in-dubai-on-interpol-arrest-warrant/"},{"credibility":2,"name":"99Bitcoins: Who is Sam Lee Crypto? Where is Multi-Billion Crypto Fraudster Now?","type":"news_article","url":"https://99bitcoins.com/news/who-is-sam-lee-crypto-where-is-multi-billion-crypto-fraudster-now/"}]},{"content":"Financial regulators across multiple jurisdictions issued warnings about HyperVerse and HyperFund prior to the U.S. enforcement actions. Regulatory bodies in Hungary, Canada, Germany, New Zealand, and the United Kingdom all publicly labeled the scheme a likely scam. Nepal's central bank issued a public alert in January 2022 advising citizens to avoid cryptocurrency products promising high returns in short periods. The scheme's reach extended across North America, Europe, Asia, Africa, and the Pacific. Victims in developing nations were disproportionately impacted, with reports of investors in Nepal taking out bank loans to fund their memberships and suffering severe financial distress. In the United States, the DOJ's case was filed in the District of Maryland, reflecting the location of victim-investors and the activities of promoters such as Chunga and Burton.","heading":"Regulatory Warnings and Global Impact","severity":"high","sources":[{"credibility":2,"name":"TechTimes: HyperVerse Scheme — Massive Losses Due to Crypto Scam Spark Regulatory Concerns","type":"news_article","url":"https://www.techtimes.com/articles/300916/20240123/hyperverse-scheme-massive-losses-due-crypto-scam-spark-regulatory-concerns.htm"},{"credibility":2,"name":"Winstead PC / JD Supra: SEC and DOJ Charge Founder and Promoters of HyperFund with $1.7 Billion Crypto Pyramid and Ponzi Scheme","type":"news_article","url":"https://www.jdsupra.com/legalnews/sec-and-doj-charge-founder-and-6489752/"}]},{"content":"The HyperFund case has been cited by legal commentators and regulators as a significant example of the SEC and DOJ coordinating enforcement action against crypto pyramid and Ponzi schemes. The case was notable for the explicit allegation that a fictitious CEO was hired to lend credibility to the scheme, and for the multi-year operation across multiple rebrands. Legal analysis published following the charges indicated the case may signal increased regulatory attention to crypto promoters who do not themselves found schemes but actively recruit investors for fees or commissions. The SEC's complaint framed HyperFund membership interests as securities, a classification that has broader implications for how similar crypto investment programs are regulated.","heading":"Broader Enforcement Context","severity":"medium","sources":[{"credibility":2,"name":"Herrick: SEC Crypto Criminal Enforcement Will Keep Rising Following HyperFund Ponzi Scheme Charges","type":"research","url":"https://www.herrick.com/news/sec-crypto-criminal-enforcement-will-keep-rising-following-hyperfund-ponzi-scheme-charges/"},{"credibility":2,"name":"Sadis & Goldberg: HyperFraud — SEC Cites Hyperfund $1.7 Billion Crypto Ponzi Scheme as Reason For Greater Digital Assets Regulation","type":"research","url":"https://www.sadis.com/insights/hyperfraud-sec-cites-hyperfund-17-billion-crypto-ponzi-scheme-as-a-reason-for-greater-digital-assets-regulation"}]}],"sources_used":[{"credibility":1,"name":"DOJ Criminal Division: HyperFund and Associated Cases","type":"regulatory","url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"credibility":1,"name":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"DOJ District of Maryland: Miami Man Pleads Guilty to Conspiracy Charge Connected to Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/miami-man-pleads-guilty-conspiracy-charge-connected-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"DOJ District of Maryland: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/miami-man-indicted-federal-wire-fraud-conspiracy-charges"},{"credibility":1,"name":"DOJ District of Maryland: Three Individuals Charged In $1.89 Billion Cryptocurrency Fraud Scheme","type":"regulatory","url":"https://www.justice.gov/usao-md/pr/three-individuals-charged-189-billion-cryptocurrency-fraud-scheme"},{"credibility":1,"name":"SEC Press Release 2024-11: SEC Charges Founder of $1.7 Billion HyperFund Crypto Pyramid Scheme and Top Promoter with Fraud","type":"regulatory","url":"https://www.sec.gov/newsroom/press-releases/2024-11"},{"credibility":1,"name":"SEC Litigation Release LR-25933","type":"regulatory","url":"https://www.sec.gov/enforcement-litigation/litigation-releases/lr-25933"},{"credibility":1,"name":"SEC Complaint PDF: Xue Samuel Lee and Brenda Indah Chunga","type":"court_filing","url":"https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-11.pdf"},{"credibility":1,"name":"IRS Criminal Investigation: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","type":"regulatory","url":"https://www.irs.gov/compliance/criminal-investigation/miami-man-indicted-on-federal-wire-fraud-conspiracy-charges"},{"credibility":1,"name":"CNBC: DOJ and SEC Unveil Charges in $1.9 Billion HyperFund Cryptocurrency Fraud","type":"news_article","url":"https://www.cnbc.com/2024/01/29/doj-and-sec-unveil-charges-in-1point9-billion-cryptocurrency-fraud-scheme.html"},{"credibility":2,"name":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","type":"news_article","url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"credibility":2,"name":"The Block: 'Bitcoin Rodney' Pleads Guilty in $1.8 Billion Crypto Fraud Case","type":"news_article","url":"https://www.theblock.co/post/405197/bitcoin-rodney-pleads-guilty-in-1-8-billion-crypto-fraud-case"},{"credibility":2,"name":"The Block: 'Bitcoin Rodney' Faces Decades in Prison as Feds Add Wire Fraud to HyperFund Charges","type":"news_article","url":"https://www.theblock.co/post/382450/bitcoin-rodney-faces-decades-in-prison-as-feds-add-wire-fraud-to-hyperfund-charges"},{"credibility":2,"name":"Crypto Briefing: Florida Man Pleads Guilty in $1.89B HyperFund Crypto Fraud Case","type":"news_article","url":"https://cryptobriefing.com/bitcoin-rodney-hyperfund-crypto-fraud-guilty-plea/"},{"credibility":2,"name":"Cryptopolitan: Bitcoin Rodney Enters Guilty Plea in $1.8B Cryptocurrency Fraud Scheme","type":"news_article","url":"https://www.cryptopolitan.com/bitcoin-rodney-guilty-plea-crypto-fraud/"},{"credibility":2,"name":"Business For Home: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud","type":"news_article","url":"https://www.businessforhome.org/2024/11/hyperfund-co-founder-sam-lee-arrested-in-dubai-for-1-8-billion-fraud/"},{"credibility":2,"name":"Behind MLM: Sam Lee Detained in Dubai on Interpol Arrest Warrant","type":"news_article","url":"https://behindmlm.com/companies/hyperfund/sam-lee-detained-in-dubai-on-interpol-arrest-warrant/"},{"credibility":2,"name":"TechTimes: HyperVerse Scheme — Massive Losses Due to Crypto Scam Spark Regulatory Concerns","type":"news_article","url":"https://www.techtimes.com/articles/300916/20240123/hyperverse-scheme-massive-losses-due-crypto-scam-spark-regulatory-concerns.htm"},{"credibility":2,"name":"Insurance News Net: Former Severna Park Resident Pleads Guilty in HyperFund Crypto Scheme","type":"news_article","url":"https://insurancenewsnet.com/oarticle/former-severna-park-resident-pleads-guilty-in-what-feds-call-1-89-billion-hyperfund-crypto-scheme"},{"credibility":2,"name":"Winstead PC / JD Supra: SEC and DOJ Charge Founder and Promoters of HyperFund with $1.7 Billion Crypto Pyramid and Ponzi Scheme","type":"news_article","url":"https://www.jdsupra.com/legalnews/sec-and-doj-charge-founder-and-6489752/"},{"credibility":2,"name":"Herrick: SEC Crypto Criminal Enforcement Will Keep Rising Following HyperFund Ponzi Scheme Charges","type":"research","url":"https://www.herrick.com/news/sec-crypto-criminal-enforcement-will-keep-rising-following-hyperfund-ponzi-scheme-charges/"},{"credibility":2,"name":"99Bitcoins: Who is Sam Lee Crypto? Where is Multi-Billion Crypto Fraudster Now?","type":"news_article","url":"https://99bitcoins.com/news/who-is-sam-lee-crypto-where-is-multi-billion-crypto-fraudster-now/"}],"summary":"HyperFund (also marketed as HyperVerse, HyperCapital, HyperTech, and HyperNation) was a global cryptocurrency investment scheme that allegedly raised approximately $1.89 billion from investors worldwide between June 2020 and November 2022 through fraudulent promises of daily passive returns backed by nonexistent crypto mining operations. The U.S. Department of Justice and SEC filed criminal and civil charges in January 2024 against co-founder Xue 'Sam' Lee and two key promoters, including Rodney 'Bitcoin Rodney' Burton, a Miami-based influencer who pleaded guilty on June 15, 2026 to conspiracy to operate an unlicensed money transmitting business and personally received over $7.8 million in proceeds.","timeline":[{"date":"2020-06-01","event":"HyperFund launches, co-founded by Sam Lee and Ryan Xu, promising investors daily passive returns of 0.5% to 1% from alleged cryptocurrency mining operations.","source":"DOJ Criminal Division: HyperFund and Associated Cases","source_url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"date":"2021-07-01","event":"HyperFund begins blocking investor withdrawals, preventing participants from accessing funds.","source":"DOJ Criminal Division: HyperFund and Associated Cases","source_url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"date":"2021-11-01","event":"HyperFund rebrands to HyperVerse and introduces fictitious CEO 'Steven Reece Lewis,' a role played by a paid actor.","source":"CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO","source_url":"https://www.coindesk.com/policy/2024/01/29/hyperverses-alleged-ponzi-scheme-raked-in-nearly-2b-hired-actor-as-fake-ceo"},{"date":"2022-01-01","event":"Nepal's central bank issues public advisory warning citizens to avoid HyperVerse and similar high-return crypto products.","source":"TechTimes: HyperVerse Scheme — Massive Losses Due to Crypto Scam Spark Regulatory Concerns","source_url":"https://www.techtimes.com/articles/300916/20240123/hyperverse-scheme-massive-losses-due-crypto-scam-spark-regulatory-concerns.htm"},{"date":"2022-11-01","event":"HyperFund/HyperVerse scheme ceases operation. Chainalysis later ranks HyperVerse as the largest cryptocurrency scam of 2022, with initial loss estimates of $1.3 billion.","source":"HyperVerse Wikipedia / Chainalysis 2022 Crypto Scam Report","source_url":"https://www.chainalysis.com/blog/2022-crypto-scam-revenue/"},{"date":"2024-01-29","event":"DOJ unseals criminal indictment against Sam Lee, Rodney Burton, and Brenda Chunga. SEC simultaneously files civil complaint against Sam Lee and Brenda Chunga for $1.7 billion crypto pyramid scheme.","source":"DOJ Office of Public Affairs: Three Individuals Charged for Roles in $1.89B Cryptocurrency Fraud Scheme","source_url":"https://www.justice.gov/archives/opa/pr/three-individuals-charged-roles-189b-cryptocurrency-fraud-scheme"},{"date":"2024-11-01","event":"Sam Lee voluntarily surrenders to Dubai authorities following an Interpol Red Notice and is detained at Al Aweer Central Prison for approximately 60 days before release.","source":"Business For Home: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud","source_url":"https://www.businessforhome.org/2024/11/hyperfund-co-founder-sam-lee-arrested-in-dubai-for-1-8-billion-fraud/"},{"date":"2025-01-01","event":"Superseding indictment filed against Rodney Burton, expanding charges to conspiracy to commit wire fraud, two counts of wire fraud, seven counts of money laundering, and one count of operating an unlicensed money transmitting business.","source":"DOJ District of Maryland: Miami Man Indicted on Federal Wire-Fraud Conspiracy Charges","source_url":"https://www.justice.gov/usao-md/pr/miami-man-indicted-federal-wire-fraud-conspiracy-charges"},{"date":"2026-06-15","event":"Rodney 'Bitcoin Rodney' Burton pleads guilty in U.S. District Court in Maryland to conspiracy to operate an unlicensed money transmitting business, admitting to receiving at least $7,851,711 in proceeds.","source":"DOJ District of Maryland: Miami Man Pleads Guilty to Conspiracy Charge Connected to Cryptocurrency Fraud Scheme","source_url":"https://www.justice.gov/usao-md/pr/miami-man-pleads-guilty-conspiracy-charge-connected-cryptocurrency-fraud-scheme"},{"date":"2026-07-23","event":"Rodney Burton sentencing scheduled before U.S. District Judge Richard D. Bennett. Maximum exposure: five years federal prison.","source":"DOJ Criminal Division: HyperFund and Associated Cases","source_url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"},{"date":"2027-01-07","event":"Brenda 'Bitcoin Beautee' Chunga sentencing scheduled (rescheduled from June 29, 2026). Maximum exposure: five years federal prison.","source":"DOJ Criminal Division: HyperFund and Associated Cases","source_url":"https://www.justice.gov/criminal/case/hyperfund-and-associated-cases"}]},"v":1}