A Miami man pleads guilty to participating in the HyperFund cryptocurrency scam, involving funds totaling $1.8 billion

According to the U.S. Department of Justice, Rodney "Bitcoin Rodney" Burton, a resident of Miami, Florida, has pleaded guilty in federal court, admitting to participating in a cryptocurrency fraud scheme related to HyperFund, with an amount involved of approximately $1.8 billion.

The U.S. Department of Justice stated that the project raised funds from investors through global financing and was used during its operation to promote fund transfers, constituting a large-scale cross-border telecommunications fraud network. Burton faces a maximum of 5 years in federal prison, with sentencing hearings scheduled for July 23. Law enforcement agencies indicated that the case is being jointly investigated by the IRS Criminal Investigation Division and the Department of Homeland Security Investigations.