Home Tech “Bitcoin Rodney” arrested in multi-million HyperVerse Crypto scam that duped lakhs of investors

“Bitcoin Rodney” arrested in multi-million HyperVerse Crypto scam that duped lakhs of investors

by hrithik singh t
multi-million HyperVerse Crypto scam

Multi-million HyperVerse Crypto scam

Rodney Burton, alias “Bitcoin Rodney,” stands accused of promoting a fraudulent crypto investment scheme in the US, marking the first arrest in the HyperVerse saga. According to a report in Guardian, he faces charges of operating and conspiring to run an unlicensed money transmitting business.
The US Internal Revenue Service (IRS) alleges in court documents that Burton was part of a network making “fraudulent promotional presentations” for HyperFund, a scheme supposedly earning revenue from non-existent bitcoin mining.IRS documents, seen by the Guardian, reveal Burton received over $7.8 million from investors between June 2020 and January 2022.
HyperFund, also operating under names like HyperTech, HyperCapital, and HyperVerse, lured investors with promises of daily 0.5%-1% rewards until their investment doubled or tripled. The affidavit claims these payments were actually funded by newer investors, resembling a classic Ponzi scheme.
The scheme collapsed in mid-2021, blocking withdrawals and leaving many with worthless “Hyper Units.” Despite warnings from global authorities, regulators in Australia initially missed the red flags.

Fake HyperVerse Ceo who $1.3 billion

Links to Australian Blockchain company

A Guardian investigation claims to have uncovered ties between HyperVerse and Australian businessman Sam Lee and his partner Ryan Xu, whose blockchain company Blockchain Global faced $58 million in debt. Lee and Xu, while featured prominently in HyperVerse promotional materials, denied involvement.
Xu, in a video featuring Burton, expressed ambitions to “change the world” and build a billion-strong “army” to control the financial system. Burton, known for flaunting his wealth on social media, called the plan “super exciting.”

More investigations pending

Burton’s arrest represents a significant step towards accountability in the HyperVerse case. While neither Lee nor Xu are currently charged, regulators in Australia are investigating their potential role in Blockchain Global’s collapse.
This rewritten article retains the key information while condensing it and improving clarity. It focuses on Burton’s arrest, the IRS allegations, and the scheme’s modus operandi. Additionally, it highlights the Australian links and ongoing investigations, offering a more concise and focused narrative.

FAQ

1. Who is Rodney Burton and why is he in the news?
– Rodney Burton, also known as ‘Bitcoin Rodney,’ is in the news for being accused of promoting a fraudulent crypto investment scheme in the US as part of the HyperVerse saga.

2. What are the charges against Rodney Burton?
– The US Internal Revenue Service (IRS) has charged Burton with operating and conspiring to run an unlicensed money transmitting business.

3. What is HyperFund and how did it attract investors?
– HyperFund, also known as HyperTech, HyperCapital, and HyperVerse, lured investors with promises of daily 0.5%-1% rewards until their investment doubled or tripled. It claimed to earn revenue from non-existent bitcoin mining.

 

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