Rodney Burton, a Miami-based promoter known as Bitcoin Rodney, pleaded guilty in Maryland federal court to conspiracy to operate an unlicensed money transmitting business. The charge stems from his central role in HyperFund, a global wire-fraud operation that collected approximately $1.89 billion from investors between June 2020 and January 2022.
Burton faces a maximum of five years in federal prison when sentencing arrives on July 23, 2026. Prosecutors state he leveraged social media to recruit investors by touting significant returns while quietly diverting funds for personal use.
The HyperFund platform pitched itself as a vehicle for generating outsized returns through cryptocurrency mining. However, authorities confirmed these operations never existed. The scheme cycled through multiple identities, including HyperVerse and HyperCapital, yet never offered actual cryptocurrency tokens.
Roughly $99 million per month flowed into the operation over 19 months despite having no real underlying business. Burton admitted to misappropriating investor capital while failing to provide licensed financial services.
This prosecution is part of a broader Department of Justice and Securities and Exchange Commission crackdown launched in early 2024. Co-defendant Brenda Chunga has already pleaded guilty, while alleged co-founder Xue Sam Lee awaits further legal proceedings.
Burton’s conviction marks the second successful prosecution in this case. His ultimate sentence may depend on future cooperation with federal investigators regarding the remaining defendants.