Key Highlights
- Rodney Burton pleaded guilty in a $1.8 billion HyperFund crypto fraud case for conspiracy to operate an unlicensed money business.
- HyperFund promised daily returns of 0.5%–1% but prosecutors say there were no real mining operations.
- Burton allegedly earned about $7.85 million from the scheme, and was arrested in 2024 while trying to leave the U.S
Rodney Burton, widely known in the crypto space as “Bitcoin Rodney,” pleaded guilty on June 16, 2026, in a federal court in Maryland, United States, over his role in a $1.8 billion cryptocurrency fraud linked to HyperFund, later also known as HyperVerse.
According to an official release, the 56-year-old Miami-based crypto promoter admitted to one count of conspiracy to operate an unlicensed money transmitting business.
The plea was announced by U.S. Attorney Kelly O. Hayes, together with IRS Criminal Investigation Special Agent in Charge Kareem Carter and HSI New York Special Agent in Charge Pete Gizas.
Fake promise of easy daily returns
Burton was accused of helping promote HyperFund as a safe crypto investment platform that promised investors they could earn daily passive income between 0.5% and 1% if they bought “memberships.”
Investors were also told that the money would be used for large crypto mining operations that would generate profits. But prosecutors say those mining operations never existed. Instead, the platform used new investor money to pay earlier investors and keep the system running.
The scheme ran from June 2020 until early 2022. However, problems started earlier when withdrawals were blocked in 2021. Many investors were then unable to take out their money, which raised major red flags.
Court records say Burton helped move investor funds through several companies he controlled. These companies were presented as consulting firms, but investigators say they were actually used as unregistered money transfer businesses.
Through this setup, money from investors, including many victims in Maryland, was moved and used in ways not approved by law. Burton personally received at least $7,851,711 from this activity, according to prosecutors.
Officials said HyperFund collected around $1.8 billion from investors across many countries. The platform grew fast because it used strong marketing and promised easy returns that sounded too good to be true. Many people believed it was a real investment opportunity, but prosecutors say it had no real business or mining operations behind it.
Arrest at Miami airport
Burton was later arrested by Federal authorities in January 2024 at Miami International Airport. He was reportedly carrying a one-way ticket to the United Arab Emirates at the time. A federal judge denied bail, calling him an “extreme flight risk,” and he has remained in custody since then.
Later, in December 2025, prosecutors expanded the case with more charges. These included wire fraud conspiracy, multiple wire fraud counts, money laundering, and operating an unlicensed money transmitting business. Authorities also claimed that money from investors was spent on luxury items such as high-end condos, sports cars, and a yacht.
Burton’s guilty plea only covers the conspiracy charge linked to unlicensed money transmission. That charge carries a maximum sentence of five years in prison. His sentencing is scheduled for July 23 before the U.S. District Judge Richard D. Bennett.
Wider case of crypto fraud
The case is part of wider federal action against crypto fraud. Officials say cryptocurrency-related scams have caused billions in losses in recent years, with agencies like the DOJ, IRS-CI, and HSI stepping up enforcement against promoters and organizers linked to such schemes.
The recent FBI 2025 Internet Crime Report says the crypto space has logged over $11 billion in losses from over 181k victims. Meanwhile, blockchain analytics firm TRM Labs also found that wallets linked to legal action in 2025 received about $158 billion.
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