Cointelegraph·1d ago·negative

'Bitcoin Rodney' pleads guilty for promoting $1.8B HyperFund crypto fraud

Rodney 'Bitcoin Rodney' Burton pleaded guilty to conspiracy for promoting HyperFund, a $1.8 billion Ponzi scheme that falsely promised daily returns from crypto mining.

Burton faces up to five years in prison for operating an unlicensed money transmitting business tied to HyperFund.
HyperFund falsely promised investors daily returns of 0.5% to 1% from crypto mining revenue that did not exist.
Burton personally received at least $7.8 million in proceeds from the scheme between June 2020 and January 2022.
HyperFund is one of the largest crypto fraud schemes, comparable to OneCoin ($4B) and BitConnect ($2B).
Sentencing is scheduled for July 23; co-conspirators Sam Lee and Brenda Chunga face separate charges.

scamsregulationImpact 5/10

Why our editor rated this negative

Another major crypto fraud case reaching resolution is negative for the industry's reputation, though enforcement action shows regulatory progress.

Read the full story at Cointelegraph

Coinporta summarises news for fast scanning. Full reporting belongs to the source.

Last updated 19 Jun 2026

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