SEC accuse HyperFund founders of $1.7m fraud
The U.S. Securities and Exchange Commission (SEC) accuse s the founders of the HyperFund crypto project of running a fraud operation that took more than one million form unwitting investors. Information about this appeared on the regulator’s website. According to the SEC, the scammers offered investors the opportunity to invest in highly profitable mining operations. They created a cryptocurrency exchange that attracted investments for Bitcoin (BTC) mining and launched a metaverse project. However, the organizers made payments from funds raised from new investors. In total, the attackers managed to collect $1.7 billion in assets from unsuspecting investors. In addition to fraud, the founders of HyperFund are accused of illegally offering securities. Despite the scale of the scam, organizer Sam Lee, an Australian citizen, faces a maximum sentence of five years. Burton, known as Bitcoin Rodney, will receive the same amount. The third defendant (Bitcoin Beautee), Brenda Chunga, will...
