Incident report

HyperFund / HyperVerse

HyperFund sold the familiar dream of passive crypto income: buy a membership, watch daily rewards accrue, and trust that mining revenue would fund the payouts. U.S. authorities describe a different machine underneath: a global pyramid and wire-fraud scheme funded by investor money, promoted through personalities and rebrands.

Key operator

Xue Samuel "Sam" Lee

Co-founder and alleged architect

Photo: Illustrative BitHunt dossier graphic

Damage / claims

More than $1.7 billion alleged by the SEC; $1.89 billion cited by DOJ case materials

Affected clients

Victim-investors worldwide cited by U.S. authorities

Collapse value

Withdrawals blocked after promised mining revenue failed to materialize

Public outcome

Co-founder charged; promoter pleaded guilty

What Happened

The SEC charged Sam Lee over HyperFund; Rodney Burton, known as Bitcoin Rodney, later pleaded guilty to a conspiracy charge tied to the scheme.

Investors bought HyperFund memberships with promises of daily returns around 0.5% to 1%.

Promoters claimed returns came from large-scale crypto mining and related ecosystem revenue.

Authorities alleged HyperFund had no real revenue source other than investor funds and eventually blocked withdrawals.

Rodney Burton allegedly helped move investor funds through companies presented as consulting businesses.

Timeline

Jun 2020HyperFund begins selling membership packages and promoting daily passive rewards.
2021Withdrawal problems emerge as the promised return engine becomes unsustainable.
Jan 2024SEC charges Sam Lee and Brenda Chunga over the alleged HyperFund pyramid scheme.
Jan 2024DOJ announces associated criminal cases naming Sam Lee, Brenda Chunga, and Rodney Burton.
Jun 2026Rodney Burton pleads guilty to conspiracy tied to unlicensed money transmission for HyperFund.

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