Bitcoin Rodney Pleads Guilty In $1.8B HyperFund Crypto Fraud

Rodney "Bitcoin Rodney" Burton, a 56-year-old Florida resident, pleaded guilty in federal court to conspiring to operate an unlicensed money-transmitting business tied to a $1.8 billion fraudulent crypto platform. The United States Attorney’s Office for the District of Maryland said Burton conspired to provide unlicensed money-transmitting services to promote HyperFund, a global wire-fraud scheme.

Kelly O. Hayes, U.S. Attorney for the District of Maryland, and agents from the Washington Internal Revenue Service Criminal Investigation unit and Homeland Security Investigations in New York announced the guilty plea. HyperFund is one of the largest crypto fraud schemes, impacting thousands of investors worldwide and drawing comparisons to collapses such as OneCoin and BitConnect.

Prosecutors say the scheme falsely promised investors daily passive returns of 0.5% to 1%, claiming payouts came from crypto-mining revenue it did not have.

United States, Maryland

bitcoin rodney, rodney burton, hyperfund, crypto fraud, 1.8 billion, money transmitting, wire fraud, irs, homeland security, bitconnect