Florida Man Pleads Guilty in $1.8 Billion Crypto Fraud Case
- Rodney “Bitcoin Rodney” Burton, a Florida resident, pleaded guilty to conspiracy for operating an unlicensed money-transmitting business.
- The fraudulent platform, HyperFund, is linked to a $1.8 billion global wire-fraud scheme affecting thousands of investors.
- Burton promoted HyperFund from June 2020 to January 2022, falsely promising daily returns of up to 1% from non-existent crypto-mining revenue.
- He personally received at least $7.8 million from the operation and faces a maximum sentence of five years in federal prison.
- HyperFund’s collapse in November followed multiple rebrands since its launch as HyperCapital in January.
Burton’s guilty plea highlights the ongoing issues with fraudulent schemes in the cryptocurrency space, reminiscent of past collapses like OneCoin and BitConnect that resulted in billions lost by investors.
As the case unfolds, Burton’s sentencing is set for July, marking a significant moment in addressing large-scale crypto frauds involving billions of dollars.(Source)
