HyperFund in 2024: A $1.89 Billion Crypto Ponzi Scheme  

The development of HyperFund Ponzi scheme

Mainly driven by greed, Bitcoin had impressively hit its all-time high of USD 96,295 in 2024. The market has a compound annual growth rate of 7.77%, projected to hit USD 64.41B market size by 2029.  

With the alluring disruption of Bitcoin, investors flock to the market to speculate and invest in this digital currency.  

This growing optimism, however, breeds investment scam operations. One notable crypto investment scam is HyperFund. 

This USD 1.89 billion Ponzi scheme was operated by Sam Lee and promoted by Brenda Chunga and Rodney Burton. It promised 0.5% to 1% daily guaranteed returns from non-existent crypto mining operations.  

Horror struck when HyperFund withdrawal was disabled in 2021, leaving members’ investments inaccessible. Months later, this Ponzi scheme inevitably collapsed in 2024.  

The Biggest Crypto Ponzi Scheme in 2021 

The story: HyperFund and its other variations pocketed around USD 1.89B through fake crypto mining investment. This billion-dollar scheme was orchestrated by Sam Lee and promoted by finfluencers, namely Brenda “Bitcoin Beautee” Chunga and Rodney “Bitcoin Rodney” Burton. In January 2024, all three masterminds were ruled by the US Department of Justice as violators of anti-fraud and registration laws.  

What we know: From 2020 to 2024, the financial market was devastated by another crypto-disguised Ponzi scheme in the name of HyperFund. Once promised with 0.5% to 1% daily return, HyperFund victims are now coming together to raise awareness about the case and support financially devastated victims.  

Bitcoin Beautee Chunga settled with the DOJ while Bitcoin Rodney was debarred in Maryland. Sam Lee, who’s yet to be convicted, will face five years in prison.   

What else: Stephen Harrison, an Englishman based in Thailand, was hired by an Indonesian agency as the “representer” of HyperFund. He came clean to the public, admitting that he was the face of Steven Reece Lewis – HyperFund’s claimed CEO.  

How Did HyperFund Managed to Scam Investors?  

Established in 2020, HyperFund lured unsuspecting investors and the public into being part of its pyramid scheme by promising guaranteed profits through Bitcoin mining operations. 

According to the company, all members will receive a daily investment return of 0.5% to 1%. What’s more interesting is that this impressive, guaranteed ROI will increase two to threefold once the condition is met.  

What’s the condition, you ask? They must recruit new investors into the pyramid – the typical “robbing Peter to pay Paul” Ponzi scheme.  

Read more: What Is Investment Ponzi Scheme: South Africa Financial Terrorists : HyperFund in 2024: A $1.89 Billion Crypto Ponzi Scheme  

Red Flags of HyperFund

Its pyramid operation became more apparent when the company couldn’t provide information about its Bitcoin mining operations. 

The company also won investors’ trust with the strong credentials of Stephen Reese Lewis, HyperFund’s publicized CEO. However, such a person doesn’t exist at all.  

This Ponzi scheme ran wild into the financial markets, from the lenient Kenyan jurisdiction to the stringent American and Australian regulators.  

However, the scheme ultimately collapsed in 2022 after the operator’s disabled withdrawal from members.  

In 2024, the masterminds behind the HyperFund Ponzi scheme finally got charged for defrauding investors with over USD 1.89 billion. The US DOJ stated that HyperFund masterminds violated the anti-fraud and registration laws of the Federal government.  

Bitcoin Beautee (Chunga) pled guilty and reached a settlement with the regulator while Rodney was arrested in Maryland.  

Still unable to reach, Sam Lee has a litigation case awaiting him.  

Sam Lee is also the mastermind behind the Hyper scams – namely HyperFund, HyperVerse, HyperCapital, and HyperNation.  

How Can You Participate in the Case Development? 

The victims of the HyperFund Ponzi scheme were coming together to make the public aware of HyperFund and its potential variations. HyperFund victims conduct regular Zoom conferences to offer support for financially devastated victims and catch up with the case development.   

Victims wanting to keep updated with the HyperFund case development can visit this website: https://www.justice.gov/criminal/case/hyperfund-and-associated-cases. Moreover, individuals wanting to testify against HyperFund can contact [email protected].  

The Hyper Scams 

The Hyper scams were operated by Sam Lee, a 30-year-old Australian citizen. This series of scams pocketed almost $1.89B in investments through HyperFund’s online investment platform. 

HyperFund was the start of Sam Lee’s fraudulent activities. It was launched in 2020 with the premise of providing investors with 0.5% to 1% daily crypto investment return.  

This Ponzi scheme was considered a success, with the help of 43-year-old Brenda Chunga and Rodney Burton, the scheme’s major promoters. 

However, HyperFund inevitably collapsed after a year of operation. In 2022, the Ponzi scheme vanished into thin air after the company disabled withdrawal. 

Following the collapse is HyperVerse. This scheme is Lee, Chunga, and Burton’s way of continuing to defraud investors. It was short-lived after its launch in 2023. 

The US DOJ arrested Rodney after a year. Bitcoin Rodney was reported to have successfully pocketed a total of USD 7.85 million from 562 wire transfers from his victims.  

The Hyper scams also went to several names, including: 

  • HyperCapital 
  • HyperNation  
  • HyperTech 

The Minds Behind HyperFund 

“The level of alleged fraud here is staggering,”

Erek Barron, District of Maryland Attorney

Sam Lee orchestrated HyperFund and its other variations. Bitcoin Rodney and Bitcoin Beautee then promoted them to reach more unsuspecting investors.  

Sam Lee 

Sam Lee is the alleged founder of HyperFund and all its other variations. Being Australia’s “crown prince of Bitcoin,” Lee leveraged his influence and expertise to defraud investors and pocket almost 2 billion USD.  

Lee, who currently resides in the United Arab Emirates, has yet to plead guilty in the case against him. If convicted, he will face 5 years of jail time.  

Brenda “Bitcoin Beutee” Chunga 

Brenda Chunga was the lead promoter of Hyper scams. Through her active recruitment, she pocketed more than USD 3.7 million from the scheme.  

According to the US SEC, Chunga lived a luxurious life after defrauding thousands of global investors. She mostly spent her ill-gotten earnings on BMW, designer clothing, a luxury home, and a million-dollar condo in Dubai.

Rodney “Bitcoin Rodney” Burton  

Rodney Burton is another lead promoter of Hyper scams. With his involvement, he’s reported to defraud over USD 7 million from 562 wire transfers from victims.  

He was arrested in Florida after HyperVerse collapsed. The court ruled against him, saying he played a big role in promoting the Hyper schemes in public. After his arrest, he was transferred to Maryland to face the judge’s ruling.  

Who Is Steven Reece Lewis 

The false sense of representation and credibility majorly contributed to HyperFund’s public penetration.  

HyperFund was marketed to be owned by Steven Reece Lewis, an American millionaire investor. His fake background added an extra layer of appeal to public investors.  

According to his introduction video, he attended the University of Leeds and the University of Cambridge. After completing his degree, he worked at Goldman Sachs and developed and sold a web company to Adobe.  

After these ventures, he supposedly started his own IT startup company.  

However, neither the universities nor companies have a Lewis record in their database. Lewis also has no internet presence, whether on Facebook, LinkedIn, or other social media platforms.  

Who Is Stephen Harrison? 

Stephen Harrison is the face of Steven Reece Lewis, the claimed HyperFund CEO.  

In 2024, he came to the public to clear his image. He firmly denied his affiliation with HyperFund, saying he was only hired as a “presenter talent” to represent the business. 

Harrison’s employer told him that the business is legitimate and that hiring a presenter is common to businesses and enterprises.  

“So, I rolled with it,” said Harrison.  

Now, he’s fully educated about the matter and realizes the degree of his action. Even if it was not his intent, he apologized and empathized with the scheme victims.  

He admitted his passive role in creating an impression of credibility, encouraging investors to believe in something but left with devastation.  

While he was paid about $7,500 over nine months, the actor ultimately denied benefiting from the ill-gotten revenue aside from this salary.   

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent Articles
Everything You Need to Know About the Growing Everest Wealth Complaints South Africa 

Everything You Need to Know About the Growing Everest Wealth Complaints South Africa 

This is your first smart step to assess Everest Wealth. Stop, read, and background check everything before you start investing.

This TRU insight covers it all! It’s packed with Everest Wealth management, license, FSCA compliance, assets, returns, and liquidity.

In the end, you’ll arrive with a financial awakening, helping you realize if Everest Wealth resonates with you. Can you handle the risk and its promising opportunities?

FxPro Review in 2025: Is FXPro Regulated and Legit?  

FxPro Review in 2025: Is FXPro Regulated and Legit?  

Are you thinking about trading with FxPro? This 2025 review covers everything—from FxPro login and minimum deposit to withdrawal options and platform choices like MT4, MT5, and cTrader.

We also unpack FxPro’s regulation status, fees, and what traders are really saying. Find out if FxPro is a safe bet or just another name in a crowded market.

Top 5 No-Deposit Bonus Forex Brokers in 2025

Top 5 No-Deposit Bonus Forex Brokers in 2025

Brokers offer rewards like no-deposit bonus forex to encourage new traders to trade and reward existing clients. Discover the top brokers with this bonus here.

Freshforex Review in 2025: Is It Regulated and Legit? 

Freshforex Review in 2025: Is It Regulated and Legit? 

Are you thinking of trading with FreshForex? This 2025 review covers everything—from the FreshForex no deposit bonus and minimum deposit to how to log in and start trading on MT4 or MT5.

We also unpack its regulation status, bonus withdrawal rules, and what real users say. Find out if FreshForex is worth the risk or just another offshore hype.

Top 10 ECN Brokers in South Africa in 2025

Top 10 ECN Brokers in South Africa in 2025

Many traders prefer ECN brokers for their low forex spreads and ability to connect traders to liquidity providers. Learn more about ECN here.

Trade with Minimal Fee: 0 Pip Forex Spread of Forex Broker in South Africa in 2025 

Trade with Minimal Fee: 0 Pip Forex Spread of Forex Broker in South Africa in 2025 

Still confused about forex spread and how it impacts your trading costs? This article breaks down the real meaning of forex spread, why it exists, and how to choose the best forex brokers in South Africa offering the lowest spreads.