Rodney Burton Pleads Guilty in $1.8 Billion HyperFund Crypto Fraud Case

ChainCatcher report, according to Cryptopolitan, Rodney Burton, known as "Bitcoin Rodney," a Miami-based cryptocurrency promoter, pleaded guilty in U.S. federal court to conspiracy to operate an unlicensed money transmitting business in connection with the $1.8 billion HyperFund crypto fraud scheme. The 56-year-old Burton admitted to operating entities disguised as consulting firms that functioned as unlicensed money transmitters, laundering funds from HyperFund investors and personally profiting at least $7.85 million. HyperFund promised investors daily passive returns of 0.5% to 1%, claiming these returns stemmed from large-scale cryptocurrency mining operations—operations that did not actually exist. Burton was arrested in January 2024 at Miami International Airport while holding a one-way ticket to the United Arab Emirates and was subsequently detained by a federal judge, who deemed him an “extreme flight risk.” Originally charged with two counts of unlicensed money transmission, the charges were later expanded to 11, including conspiracy to commit wire fraud and money laundering. This guilty plea applies only to the conspiracy charge, carrying a maximum sentence of five years; sentencing is scheduled for July 23. HyperFund’s co-founder, Xue “Sam Lee” Lee, remains at large, while another promoter, “Bitcoin Beautee,” pleaded guilty on the same day.