The Hyperverse Scam

Hyperverse, also known as HyperFund, was a cryptocurrency scheme that turned out to be a massive scam. It left investors around the world facing losses of around $1.3 billion.

How the scam worked

  • Hyperverse promised very high returns of at least 0.5% per day
  • This sounded too good to be true – and it was
  • Analysis showed Hyperverse had taken in about $1.3 billion by early 2022

Fake CEO and celebrity endorsements

  • Hyperverse claimed its CEO was Steven Reece Lewis
  • But no record of him could be found at places where he supposedly worked or studied
  • The scheme also used celebrity endorsements, but these were likely paid for

Legal action and criticism of regulators

  • Rodney Burton, known as “Bitcoin Rodney”, was arrested for his role in promoting Hyperverse
  • Australian authorities were criticised for not acting sooner to stop the scam
  • In the UK, the Financial Conduct Authority (FCA) had warned HyperFund was a scam

Impact on UK investors

  • Many people in the UK lost money to Hyperverse
  • They were attracted by promises of high returns from a new technology
  • The sheer scale of marketing and complex tactics led people to ignore warnings
  • The losses highlight risks of unregulated crypto investments

Help for Hyperverse victims

  • While Hyperverse isn’t covered by financial compensation schemes, help is available
  • Getting expert assistance after a scam is very important

The Hyperverse story is a cautionary tale for investors. Stay vigilant and be wary of anything that seems too good to be true in the crypto world.

Summary:

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