According to ChainCatcher, citing Cryptopolitan, Miami-based crypto promoter Rodney Burton, known by the nickname ‘Bitcoin Rodney,’ has pleaded guilty in U.S. federal court. The plea is tied to the $1.8 billion HyperFund crypto fraud case, and Burton admitted to one count of conspiracy to operate an unlicensed money transmitting business.
Burton admitted operating an entity disguised as a consulting firm
Burton, 56, acknowledged that he ran an entity presented as a consulting company while it functioned as an unlicensed money transmitter. Prosecutors said the entity was used to launder funds from HyperFund investors, and Burton personally profited by at least $7.85 million through the operation.
HyperFund had promised investors passive daily returns ranging from 0.5% to 1%. The project claimed that those returns came from large-scale crypto mining operations. According to the report, the mining operations described to investors did not actually exist, making the movement of investor funds a central part of the federal case.
Arrest, expanded charges and sentencing date
Burton was arrested in January 2024 at Miami International Airport. At the time, he was carrying a one-way ticket to the United Arab Emirates. A federal judge later described him as an ‘extreme flight risk,’ and he has remained in custody since the arrest.
The original case against Burton included two counts of unlicensed money transmitting. The indictment was later expanded to 11 counts, including conspiracy to commit wire fraud and money laundering. His current guilty plea applies only to the conspiracy charge related to operating an unlicensed money transmitting business. The charge carries a maximum sentence of five years in prison, and sentencing is scheduled for July 23. HyperFund co-founder Xue ‘Sam Lee’ Lee remains at large, while another promoter, ‘Bitcoin Beautee,’ pleaded guilty on the same day.