Bitcoin Rodney Pleads Guilty to $1.8B HyperFund Fraud, Faces Sentencing on July 23

According to Foresight News, Miami-based cryptocurrency promoter Rodney "Bitcoin Rodney" Burton pleaded guilty in federal court to participating in an $1.8 billion HyperFund fraud scheme that operated from 2020 to 2022. Burton admitted to conspiracy to operate an unlicensed money transmitting business and promoting HyperFund by transferring investor funds through entities disguised as consulting companies. He faces up to five years in federal prison, with sentencing scheduled for July 23 by U.S. District Judge Richard D. Bennett.

According to the Maryland U.S. Attorney's Office, Burton personally profited $7.85 million from the scheme. The platform falsely promised passive returns of 0.5% to 1% daily and claimed mining operations backed the payments, though prosecutors stated no such operations existed. Withdrawals were frozen beginning in 2021.