Miami man pleads guilty to involvement in HyperFund cryptocurrency scam, with the amount involved reaching $1.8 billion

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Deep Tide TechFlow News, June 17th, according to the U.S. Department of Justice, Rodney “Bitcoin Rodney” Burton, a resident of Miami, Florida, has pleaded guilty in federal court to participating in a cryptocurrency scam related to HyperFund, involving approximately $1.8 billion. According to disclosures from the U.S. federal prosecutors in Maryland, Burton admitted to conspiracy to operate an unlicensed money transmission business, having promoted this Ponzi scheme from June 2020 to January 2022, and profited about $7.85 million from it.

The U.S. Department of Justice stated that the project raised funds from investors worldwide through global financing and was used for promotion and fund transfer during operation, constituting a large-scale cross-border telecommunications fraud network. Burton faces a maximum of 5 years in federal prison, with sentencing hearing scheduled for July 23. Law enforcement officials said the case was jointly investigated by the IRS Criminal Investigation Division and the Department of Homeland Security.

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