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<p>Rodney Burton, the Miami-based crypto promoter who built an online following under the name "Bitcoin Rodney," <cite>pleaded guilty in federal court on June 16 over his role in the $1.8 billion HyperFund cryptocurrency fraud.</cite><cite>The 56-year-old admitted to one count of conspiracy to operate an unlicensed money transmitting business.</cite></p>
<h2 id="the-classic-pitch-daily-returns-no-real-business">The Classic Pitch: Daily Returns, No Real Business</h2>
<p><cite>HyperFund, which also operated under the names HyperVerse, HyperTech, and HyperCapital, promised investors daily passive returns of 0.5% to 1%, supposedly backed by large-scale cryptocurrency mining operations that did not exist.</cite><cite>Burton promoted HyperFund between June 2020 and January 2022 and participated in providing unlicensed money transmission services that facilitated the scheme's operations.</cite><cite>Under the plea agreement, he admitted to running companies disguised as consulting firms but operating as unregistered money transmitters to launder HyperFund investor funds, including victims in Maryland.</cite> By 2021, the platform had stopped allowing investors to withdraw their funds.</p>
<p><cite>Prosecutors say Burton personally pocketed at least $7.85 million from the operation.</cite><cite>The expanded indictment alleged he spent investor money on luxury condos, sports cars, and a yacht.</cite><cite>Burton was arrested by federal authorities in January 2024 at Miami International Airport, reportedly carrying a one-way ticket to the United Arab Emirates. A federal judge denied bail, calling him an "extreme flight risk," and he has remained in custody since then.</cite></p>
<h2 id="broader-case-still-unresolved">Broader Case Still Unresolved</h2>
<p>Burton is not the only figure facing consequences. <cite>Another promoter, Brenda Chunga, previously pleaded guilty for her role in the operation.</cite><cite>The platform's alleged co-founder, Australian entrepreneur Xue "Sam" Lee, was indicted in January 2024 on conspiracy to commit securities and wire fraud, and remains at large.</cite></p>
<p><cite>The guilty plea covers the conspiracy count alone, which carries a maximum sentence of five years. Sentencing is set for July 23 before U.S. District Judge Richard D. Bennett.</cite><cite>Burton's plea marks the latest development in one of the largest cryptocurrency fraud cases pursued by federal prosecutors and highlights the growing legal risks facing individuals who promoted high-yield crypto projects during the industry's last major bull market.</cite></p>
<p><strong>Sources:</strong><br><a href="https://www.justice.gov/usao-md/pr/miami-man-pleads-guilty-role-18-billion-hyperfund-cryptocurrency-fraud-scheme" rel="noopener noreferrer nofollow">U.S. Department of Justice press release on Burton guilty plea</a><br><a href="https://beincrypto.com/bitcoin-rodney-hyperfund-crypto-fraud-guilty/" rel="noopener noreferrer nofollow">BeInCrypto: Bitcoin Rodney Pleads Guilty in Connection With $1.8 Billion HyperFund Fraud</a><br><a href="https://news.bitcoin.com/hyperfund-promoter-bitcoin-rodney-pleads-guilty-in-1-8-billion-crypto-scam/" rel="noopener noreferrer nofollow">Bitcoin.com News: HyperFund Promoter Bitcoin Rodney Pleads Guilty in $1.8 Billion Crypto Scam</a></p>

Bitcoin Rodney" just pled guilty over a $1.8B crypto Ponzi

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