TLDR
- Florida man Rodney “Bitcoin Rodney” Burton pleaded guilty to running an unlicensed money transfer company linked to HyperFund.
- HyperFund was a $1.8 billion global cryptocurrency scam that promised daily returns of between 0.5% and 1%.
- Burton personally earned more than $7.8 million from the operation
- The scheme collapsed in November 2022 after investor withdrawals were frozen
- Burton faces up to five years in prison, and is scheduled to be sentenced on July 23
A 56-year-old Florida man known online as “Bitcoin Rodney pleaded guilty in federal court to his role in a $1.8 billion cryptocurrency fraud scheme.
JUST IN: A Florida man has pleaded guilty to promoting a $1.8 billion cryptocurrency scam linked to HyperFund, and faces up to five years for conspiring to operate an unlicensed money transfer company. This underscores the ongoing regulatory and enforcement risks in cryptocurrency marketing. $ encryption (The indicator is… pic.twitter.com/Km7a6H4p52
– Bpay News (@bpaynews) June 18, 2026
Rodney Burton, of Miami, admitted to conspiring to operate an unlicensed money transfer company that helped promote HyperFund, a platform that prosecutors described as a widespread wire fraud.
The guilty plea was announced by Kelly O. Hayes, US Attorney for the District of Maryland, along with agents from the IRS Criminal Investigation Unit and Homeland Security Investigations.
What is HyperFund?
HyperFund has marketed itself as a legitimate cryptocurrency investment platform. It promised investors daily negative returns ranging from 0.5% to 1%, claiming that these returns came from cryptocurrency mining revenues.
Prosecutors say the mining operation never existed.
The platform sold “memberships” and told investors that their initial stake would double or triple over time. By 2021, HyperFund began freezing withdrawals entirely.
The scheme was launched as HyperCapital in January 2022, was rebranded as HyperFund six months later, and collapsed completely in November 2022.
Burton’s role and celebrity connections
Court documents show that Burton was active in promoting HyperFund between June 2020 and January 2022. He controlled a network of companies that appeared to be providing advisory services but were actually funneling investors’ money through the scheme.
Burton personally received more than $7.8 million in proceeds from the operation.
He also used his public profile to attract investors. According to Rolling Stone, Burton has recruited celebrities including actor Jamie Foxx and rapper Rick Ross to increase his visibility.
He hosted a cryptocurrency conference in Miami in 2021. Attendees included Jordan Belfort, Akon, Tiffany Haddish, and Draymond Green.
The conspirators and what comes next
Two others were charged in January 2024 in connection with the scheme. Sam Lee, a 35-year-old Australian described as one of the founders of HyperFund, has not been convicted of anything.
Brenda Chunga of Maryland also faces charges of conspiracy to commit securities fraud and wire fraud. Her sentencing has been postponed several times and is now scheduled for June 29.
HyperFund ranks among the largest cryptocurrency fraud cases on record. It draws comparisons to OneCoin, which took more than $4 billion from investors, and BitConnect, which caused losses estimated at $2 billion.
Burton is scheduled to be sentenced on July 23 before U.S. District Judge Richard Bennett. He faces a maximum sentence of five years in federal prison.
Assistant U.S. Attorney Christina A. Hoffman investigated the case.
