Florida man pleads guilty for promoting $1.8B ‘HyperFund’ crypto fraud

Rodney Burton pleaded guilty on March 18, 2024, to conspiracy to operate an unlicensed money transmitting business related to the $1.8 billion HyperFund crypto fraud scheme. Burton, also known as "Bitcoin Rodney," promoted the HyperFund investment platform, which defrauded investors of approximately $1.8 billion. The scheme operated as a Ponzi scheme, promising high returns on investments in cryptocurrency and blockchain technology. Burton's role involved recruiting new investors and promoting the platform through social media and online presentations. He faces a maximum sentence of five years in federal prison and a fine of up to $250,000. The U.S. Department of Justice has been actively prosecuting individuals involved in the HyperFund fraud, with several other defendants already facing charges. This plea marks a significant development in the ongoing efforts to dismantle the fraudulent enterprise and recover assets for defrauded investors.