US Authorities Arrest "Bitcoin Rodney" for Allegedly Defrauding $7M in Crypto Investment Scheme

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Cointime2024/01/09 13:26

By:Cointime

Rodney Burton, also known as "Bitcoin Rodney," has been arrested and charged by U.S. authorities for allegedly defrauding over $7 million through a fake investment scheme called HyperVerse. The scheme was promoted by a network of HyperFund promoters who made fraudulent presentations to investors, falsely claiming that investors who purchased memberships would receive daily passive rewards. Burton received over $7 million from individuals through 562 wire transfers or cashier's checks. The HyperVerse crypto scheme resulted in thousands of people losing millions of dollars, and Australia's Assistant Treasurer and Minister for Financial Services will ask the country's Securities and Investments Commission why it didn't warn consumers about the scheme.

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