Miami cryptocurrency promoter Rodney “Bitcoin Rodney” Burton pleaded guilty on June 17 in Maryland federal court to one count of conspiracy to operate an unlicensed money transmitting business. The charge stems from his role promoting HyperFund, a global wire-fraud scheme that prosecutors say defrauded investors worldwide of $1.8 billion. Burton, 56, who also owns a residence in Prince George’s County, Maryland, faces a maximum sentence of five years in federal prison under the plea agreement.
Burton Admits Running Unlicensed Money Transmitting Operation
Between June 2020 and January 2022, Burton conspired to provide unlicensed money transmitting services that promoted HyperFund and funneled investor funds to enrich himself, according to the plea agreement. HyperFund marketed itself as a legitimate cryptocurrency investment platform, promising buyers of memberships daily returns of 0.5% to 1% until their initial stake doubled or tripled. The platform claimed payouts came from large-scale crypto-mining operations that never existed. HyperFund began blocking investor withdrawals in 2021. Burton controlled multiple companies that posed as consulting firms but functioned as unlicensed money transmitters. He personally collected at least $7,851,711 in proceeds, including funds drawn from HyperFund victims in Maryland.
How HyperFund Operated and Its Brand Evolution
The scheme cycled through several brands — HyperVerse, HyperTech, and HyperNation — with promoters leaning on fabricated leadership profiles and celebrity endorsements. Investigators later dismantled the operation by tracing discrepancies between reported income and lavish spending, the same methods used in the $4 billion OneCoin fraud. U.S. Attorney for the District of Maryland Kelly O. Hayes announced the plea alongside IRS Criminal Investigation Special Agent in Charge Kareem Carter and Homeland Security Investigations Special Agent in Charge Pete Gizas.
Case Escalation and SEC Parallel Action
In December 2025, a superseding indictment widened Burton’s exposure beyond the money-transmission count, adding wire fraud conspiracy, two counts of wire fraud, and seven counts of money laundering. Court filings alleged Burton spent investor funds on luxury real estate, sports cars, and a yacht, and noted his arrest at Miami International Airport while holding a one-way ticket to the United Arab Emirates. Separately, the SEC charged alleged co-founder Xue “Sam” Lee, an Australian who fled to Dubai in 2021, and promoter Brenda “Bitcoin Beautee” Chunga with running HyperFund as a pyramid scheme with no legitimate revenue beyond investor deposits. Chunga settled with the SEC and pleaded guilty after being accused of siphoning more than $3.7 million.