HyperFund / HyperVerse

HyperFund launched in June 2020 under the "HyperTech" umbrella of Australian national Sam (Xue) Lee, rebranding as HyperVerse in December 2021 and later HyperNation. It sold memberships promising 0.5%–1% daily "passive rewards" until investors doubled or tripled their money, supposedly funded by large-scale crypto mining that did not exist. Withdrawals were blocked from July 2021, and Chainalysis ranked the collapse among 2022's largest crypto scams. HyperVerse's launch even featured a fake CEO, "Steven Reece Lewis," played by a paid actor, plus purchased Cameo endorsements from Chuck Norris and Steve Wozniak.

On January 29, 2024, the DOJ (District of Maryland) charged Lee with conspiracy to commit securities fraud and wire fraud over the approximately $1.89 billion scheme, charged promoter Rodney "Bitcoin Rodney" Burton with unlicensed money transmitting offenses, and announced promoter Brenda "Bitcoin Beautee" Chunga's guilty plea to conspiracy to commit securities and wire fraud. The SEC filed parallel civil fraud charges against Lee and Chunga, describing a $1.7 billion crypto pyramid scheme (the SEC's figure differs from the DOJ's $1.89 billion).

As of July 2026, no sentences have been imposed. Burton — arrested at Miami International Airport in January 2024 — pleaded guilty on June 15, 2026 to conspiracy to operate an unlicensed money transmitting business, admitting he received at least $7,851,711; he faces up to 5 years, with sentencing set for July 23, 2026 before Judge Richard D. Bennett. Chunga's sentencing was continued to January 7, 2027. Lee remains a fugitive: after an Interpol Red Notice, he reportedly surrendered to Dubai authorities and was detained for about 60 days in late 2024 before release, with extradition to the US unresolved; he has reportedly continued promoting new schemes from Dubai.

Sources: [DOJ press release, Jan 2024](https://www.justice.gov/usao-md/pr/three-individuals-charged-189-billion-cryptocurrency-fraud-scheme) · [DOJ HyperFund case page](https://www.justice.gov/criminal/case/hyperfund-and-associated-cases) · [SEC press release 2024-11](https://www.sec.gov/newsroom/press-releases/2024-11) · [The Block: Bitcoin Rodney guilty plea](https://www.theblock.co/post/405197/bitcoin-rodney-pleads-guilty-in-1-8-billion-crypto-fraud-case) · [Wikipedia: HyperVerse](https://en.wikipedia.org/wiki/HyperVerse)

**Official action:** DOJ criminal charges + SEC civil fraud charges Jan 2024; Chunga guilty plea Jan 2024; Burton guilty plea Jun 2026 (sentencing Jul 23, 2026); Interpol Red Notice for fugitive founder Sam Lee