• Rodney “Bitcoin Rodney” Burton seeks launch from US custody, claiming he was unknowingly drawn into Sam Lee’s alleged $3B HyperVerse Ponzi scheme.
  • Courtroom filings argue Burton carried out in depth due diligence, travelling internationally, however was misled by elaborate deception together with pretend places of work and actors posing as executives.
  • HyperVerse, HyperFund and associated schemes focused traders worldwide, utilizing movie star endorsements and guarantees of crypto mining returns that by no means existed, whereas Lee faces US legal and civil fees.

Rodney Burton, the American cryptocurrency promoter referred to as “Bitcoin Rodney”, is searching for launch from US custody after claiming he was unknowingly drawn into a worldwide US$3 billion (AU$4.62 billion) Ponzi scheme operated by Australian entrepreneur Sam Lee. 

Burton faces fees for selling HyperVerse and HyperFund, which allegedly defrauded traders of US$1.89 billion (AU$2.91 billion) worldwide, and his legal professionals insist he acted in good religion whereas endorsing the schemes.

Courtroom paperwork filed in Maryland assert that Burton carried out “extraordinary due diligence” earlier than selling the tasks, together with journeys to Hong Kong and Dubai, the place he met Lee and visited places of work offered as reputable company headquarters. 

The memorandum emphasises that these places of work and related infrastructure have been a part of an “elaborate deception” devised by Lee to mislead each traders and Burton himself. Pictures submitted within the submitting present Burton alongside Lee at what was claimed to be the Dubai HyperFund workplace.

Burton’s authorized crew additionally argues that political developments since his arrest assist his launch. They observe that Donald Trump favours civil oversight of digital assets, suggesting a shift in regulatory priorities that would affect the dealing with of Burton’s case. Burton has spent 22 months in pretrial detention, and the movement urges that his “conventional proper to freedom earlier than conviction” be restored. His trial is scheduled for March 2026.

Associated: Scammers Exploit Australia’s Cybercrime Hotline to Impersonate Police and Steal Crypto

Origins of Hyperverse

The HyperVerse schemes, operated beneath numerous names together with HyperFund, HyperCapital, HyperNation, and HyperVerse, have been promoted via lavish social media posts and on-line occasions, providing traders each day returns from supposedly large-scale crypto mining that by no means existed. 

Movie star endorsements and actors posing as executives helped create an phantasm of legitimacy. The tasks focused audiences worldwide, notably in Africa, Asia, the US, and Australia, regardless of a number of warnings from monetary regulators throughout the globe.

Burton’s case highlights the complexity of prosecuting worldwide cryptocurrency schemes, the place promoters could also be each victims and alleged members. 

Whereas Lee faces legal and civil fees within the US, the whereabouts and involvement of different key figures, together with co-founder Ryan Xu, stay much less clear, underscoring the challenges authorities face in untangling the sprawling HyperVerse community.

Associated: UK Formally Recognises Crypto as Property in Landmark Digital Assets Act

The publish Bitcoin Rodney’ Claims He Was Duped as Legal Team Seeks Release in $3B HyperVerse Fraud Case appeared first on Crypto News Australia.