Florida Man Pleads Guilty in $1.8 Billion HyperFund Crypto Fraud Case

Rodney “Bitcoin Rodney” Burton, a 56-year-old Florida resident, has pleaded guilty to conspiracy to operate an unlicensed money-transmitting business linked to HyperFund, a crypto investment scheme that allegedly defrauded investors of $1.8 billion worldwide.

Federal prosecutors said Burton promoted HyperFund between June 2020 and January 2022 and used investor funds to enrich himself. He also controlled several companies that claimed to provide consulting services and personally received at least $7.8 million from the operation.

False Promises of Daily Returns

According to prosecutors, HyperFund attracted investors by promising daily passive returns of 0.5% to 1%, claiming profits were generated through cryptocurrency mining activities. Authorities said those claims were false and the platform lacked the revenue needed to support the payouts.

Other Defendants and Sentencing

The case also involves Australian national Sam Lee and Maryland resident Brenda Chunga, who were charged in 2024 with conspiracy to commit securities fraud and wire fraud. Chunga is scheduled for sentencing on June 29, while Lee has not been convicted of any offense.

HyperFund underwent multiple rebrands before collapsing in November 2022. Burton now faces a maximum sentence of five years in federal prison, with sentencing scheduled for July 23.