TLDR
- Florida man Rodney “Bitcoin Rodney” Burton pleaded guilty to running an unlicensed money-transmitting business tied to HyperFund
- HyperFund was a $1.8 billion global crypto fraud scheme that promised daily returns of 0.5%–1%
- Burton personally pocketed over $7.8 million from the operation
- The scheme collapsed in November 2022 after freezing investor withdrawals
- Burton faces up to five years in prison, with sentencing set for July 23
A 56-year-old Florida man known online as “Bitcoin Rodney” has pleaded guilty in federal court to his role in a $1.8 billion cryptocurrency fraud scheme.
JUST IN: Florida man pleads guilty to promoting a $1.8B crypto fraud tied to HyperFund, facing up to five years for conspiracy to operate an unlicensed money transmitting business. This underscores ongoing regulatory risk and enforcement in crypto marketing. $CRYPTO (ticker ke… pic.twitter.com/Km7a6H4p52
— Bpay News (@bpaynews) June 18, 2026
Rodney Burton, of Miami, admitted to conspiring to operate an unlicensed money-transmitting business that helped promote HyperFund, a platform prosecutors describe as a large-scale wire-fraud operation.
The guilty plea was announced by Kelly O. Hayes, US Attorney for the District of Maryland, alongside agents from the IRS Criminal Investigation unit and Homeland Security Investigations.
What Was HyperFund?
HyperFund marketed itself as a legitimate crypto investment platform. It promised investors daily passive returns of 0.5% to 1%, claiming those payouts came from crypto-mining revenue.
Prosecutors say that mining operation never existed.
The platform sold “memberships” and told investors their initial stake would double or triple over time. By 2021, HyperFund had begun freezing withdrawals entirely.
The scheme launched as HyperCapital in January 2022, rebranded as HyperFund six months later, and collapsed completely in November 2022.
Burton’s Role and Celebrity Connections
Court documents show Burton was active in promoting HyperFund between June 2020 and January 2022. He controlled a network of companies that appeared to offer consulting services but were actually funneling investor money through the scheme.
Burton personally received more than $7.8 million in proceeds from the operation.
He also used his public profile to draw in investors. According to Rolling Stone, Burton enlisted celebrities including actor Jamie Foxx and rapper Rick Ross to raise his visibility.
He hosted a crypto conference in Miami in 2021. Attendees included Jordan Belfort, Akon, Tiffany Haddish, and Draymond Green.
Co-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 a co-founder of HyperFund, has not been found guilty of anything.
Brenda Chunga of Maryland also faces charges of conspiracy to commit securities fraud and wire fraud. Her sentencing has been delayed multiple times and is now scheduled for June 29.
HyperFund ranks among the larger crypto fraud cases on record. It draws comparisons to OneCoin, which took over $4 billion from investors, and BitConnect, which caused an estimated $2 billion in losses.
Burton is set to be sentenced on July 23 before US District Judge Richard D. Bennett. He faces a maximum of five years in federal prison.
Assistant US Attorney Christina A. Hoffman is prosecuting the case.
