Florida Man 'Bitcoin Rodney' Pleads Guilty Over $1.8 Billion HyperFund Crypto Fraud

Rodney Burton, also known as “Bitcoin Rodney,” pleaded guilty on March 13, 2024, to charges related to a cryptocurrency fraud scheme involving the HyperFund platform. Burton admitted to promoting the HyperFund investment program, which prosecutors described as a Ponzi scheme that defrauded investors of approximately $1.8 billion globally. The U.S. Department of Justice stated that Burton made false and misleading statements to solicit investments in HyperFund, which was presented as a legitimate cryptocurrency investment opportunity. The scheme operated from May 2020 until the indictment in November 2022, with victims losing substantial amounts of money. Burton's guilty plea includes one count of conspiracy to commit wire fraud and one count of conspiracy to commit money laundering. He faces a maximum sentence of 20 years in prison for each count. The investigation involved collaboration between the U.S. Attorney's Office for the Eastern District of New York and the Federal Bureau of Investigation (FBI).