HyperFund / HyperVerse
A crypto 'membership' scheme (also HyperVerse/HyperNation) promising daily passive rewards from non-existent mining. The SEC cited $1.7B raised; the DOJ described a $1.89B fraud.
Also known as: HyperFund, HyperVerse, HyperNation, HyperTech, HyperCapital
Summary
HyperFund — also branded HyperTech, HyperCapital, HyperVerse, and HyperNation — sold "membership" packages promising 0.5%–1% daily passive rewards, purportedly from large-scale crypto mining. The SEC says it raised more than $1.7 billion; the DOJ described a $1.89 billion scheme. [1][2]
Mechanism
Per the SEC and DOJ, the platform had no real revenue other than investor funds (a pyramid scheme), claimed an association with a Fortune 500 company, and began blocking withdrawals around 2021–2022. The DOJ noted an actor was hired to play a new CEO at a "HyperVerse" launch. [1][2]
People
Co-founder Sam Lee (Xue Lee) was indicted in January 2024; promoter Brenda Chunga pleaded guilty. [1][2]
Bracketed numbers refer to the numbered sources listed below.
People & entities involved
- Sam LeeCo-founderIndividualsAustralian co-founder of HyperFund/HyperVerse. Indicted by the U.S. DOJ in January 2024 over a scheme the DOJ valued at $1.89B and the SEC at over $1.7B.
- Brenda ChungaTop promoterIndividualsA top U.S. promoter of HyperFund (aka 'Bitcoin Beautee'). The DOJ said she earned over $3.7M from the ~$1.89B pyramid scheme; she pleaded guilty in January 2024 to conspiracy to commit securities fraud and wire fraud and settled parallel SEC charges.
- Rodney BurtonPromoter
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.