HyperFund Founder 'Bitcoin Rodney' Faces Additional Charges of Telecommunications Fraud, Could Face Decades in Prison

According to reports, federal prosecutors in Maryland, USA, have announced additional charges against cryptocurrency promoter Rodney Burton (aka 'Bitcoin Rodney'), accusing him of involvement in promoting the $1.8 billion HyperFund (also known as HyperVerse) Ponzi scheme. The latest indictment charges him with conspiracy to commit telecommunications fraud, telecommunications fraud, money laundering, and operating an illegal money transmission business. Prosecutors allege that Burton and others packaged HyperFund as a legitimate cryptocurrency investment platform from 2020 to 2024, promising investors daily returns of 0.5%–1% and claiming profits came from large-scale cryptocurrency mining, which did not actually exist. In 2021, the platform began restricting user withdrawals. The indictment also accuses Burton of using investor funds to purchase luxury apartments, sports cars, and yachts. If convicted on all charges, Burton could face decades in federal prison. He remains in custody, with the trial scheduled for March next year. Previously, another co-founder of HyperFund, Sam Lee, was sued by the SEC but remains at large. (The Block)

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