Florida man pleads guilty for promoting $1.8B…

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Rodney Burton, the Florida-based crypto influencer known as “Bitcoin Rodney,” pleaded guilty on June 15, 2026, to conspiracy charges tied to an alleged $1.8 billion cryptocurrency fraud scheme, according to Decrypt’s coverage. Burton admitted to running an unlicensed money transmitting business related to HyperFund, a platform that promised unrealistic daily returns generated by nonexistent crypto mining operations. His sentencing is scheduled for July 23, 2026, with a potential prison term of up to five years.

HyperFund, which also went by HyperVerse, HyperTech, and HyperCapital, operated from June 2020 through late 2022. It attracted investors by promising daily passive returns between 0.5% and 1%, allegedly from large-scale mining that never actually existed, Crypto Briefing reports. The scheme used heavy multi-level marketing tactics, encouraging investors to recruit others and drive exponential growth. By July 2021, HyperFund stopped allowing withdrawals, collapsing the system and trapping billions in investor money. The reported losses near $1.89 billion, making it one of the most significant Ponzi schemes in recent crypto history, according to Decrypt’s coverage.

Promoter’s role and legal consequences

Burton played a key role as a promoter, using his “Bitcoin Rodney” persona to aggressively recruit investors for HyperFund. Although not the scheme’s architect—Sam Lee remains identified as co-founder and is still at large—Burton helped expand its reach, according to Crypto Briefing’s coverage. Prosecutors widened Burton’s charges in December 2025 to include conspiracy to commit wire fraud, two counts of wire fraud, and seven counts of money laundering, reflecting the large scope of criminal activity involved. Although Burton claims he was duped by Lee and acted in good faith, prosecutors allege he spent ill-gotten gains on luxury items such as condos and vehicles.

Comparisons to prior crypto frauds

The HyperFund case dwarfs many notorious crypto scams in both scale and financial impact. At roughly $1.89 billion in alleged losses, it ranks just behind the BitConnect fraud, which reportedly involved $2.4 billion, Crypto Briefing notes. HyperFund’s longevity and scope, combined with its extensive multi-level marketing tactics, set it apart from other scams that peaked during the 2021 crypto bull run. Federal prosecutors had already charged two others connected to the scheme in January 2024, emphasizing the broad investigation. Brenda Chunga, another Maryland-based promoter, pleaded guilty and now awaits sentencing scheduled for June 29, 2026, according to Gncrypto’s report.

Upcoming trial and broader legal context

District Judge Richard D. Bennett will oversee the sentencing scheduled for July 23, 2026, as reported by Decrypt.

As crypto scams become more complex, cases like HyperFund underscore the need for due diligence and tighter regulatory oversight. The enormous financial losses from HyperFund have sparked calls for clearer investor protections and stricter licensing rules within the crypto space. Investors must be wary, especially of promises of guaranteed returns—the risks and consequences are very real, as Burton’s guilty plea shows. Congress recently finalized housing legislation that includes a CBDC prohibition through 2030, reflecting ongoing regulatory shifts affecting digital assets.