Miami Man Pleads Guilty in $1.8 Billion HyperFund Crypto Fraud Case
Highlights:
- Miami man “Bitcoin Rodney” pleaded guilty in a case tied to HyperFund’s $1.8 billion crypto fraud.
- Prosecutors said HyperFund promised daily rewards but later blocked investors from withdrawing their money.
- Burton received over $7.8 million and could now face five years in federal prison.
A Miami man has pleaded guilty in a federal case connected to a $1.8 billion cryptocurrency fraud scheme tied to HyperFund. The U.S. Department of Justice (DOJ) said on June 17 that Rodney Burton, also known as “Bitcoin Rodney,” admitted to a conspiracy charge linked to operating an unlicensed money transmitting business.
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Burton, 56, is from Miami and also has a residence in Prince George’s County, Maryland. According to the U.S. Attorney’s Office for the District of Maryland, he promoted HyperFund and helped move money connected to the scheme without the required license.
Federal prosecutors said HyperFund presented itself as a real cryptocurrency investment platform. However, authorities described it as a global wire fraud scheme that collected $1.8 billion from investors worldwide.
A Florida man pled guilty in federal court in connection with a $1.8-billion cryptocurrency fraud scheme.
Rodney “Bitcoin Rodney,” Burton, 56, of Miami, who also has a residence in Prince George’s County, Maryland, pled guilty to conspiracy to operate an unlicensed money… pic.twitter.com/W5igRofuH5
— US Attorney Maryland (@USAO_MD) June 17, 2026
HyperFund Promised High Daily Returns to Investors
According to the plea agreement, Burton took part in the scheme from June 2020 to January 2022. Prosecutors said he helped provide unlicensed money transmitting services to promote HyperFund and used investor funds to benefit himself.
HyperFund sold “memberships” to investors and claimed they could earn passive rewards. Its promotional material told investors they could receive between 0.5% and 1% daily until their original investment doubled or tripled. For many beginners, such promises can sound attractive because they suggest steady income with little effort.
The platform also claimed it could pay these rewards through revenue from large crypto-mining operations. Crypto mining is the process of using computer power to help run some blockchain networks and earn rewards. However, prosecutors said HyperFund did not have the mining operations it claimed to have.
By 2021, HyperFund began blocking investor withdrawals. That meant many users could no longer withdraw their funds from the platform.
Burton Received More Than $7.8M, Prosecutors Say
Federal prosecutors said Burton controlled several companies that appeared to offer consulting services. In reality, according to the DOJ, those companies operated as unlicensed money transmitting businesses. Authorities said Burton personally received at least $7,851,711 from the operation. Some of that money came from HyperFund victim-investors in Maryland.
The guilty plea was announced by U.S. Attorney Kelly O. Hayes for the District of Maryland. The announcement was also made with IRS Criminal Investigation Special Agent in Charge Kareem Carter and Homeland Security Investigations Special Agent in Charge Pete Gizas.
Burton Faces Up to Five Years in Federal Prison
Burton pleaded guilty to conspiracy to operate an unlicensed money transmitting business. He now faces a maximum sentence of five years in federal prison. His sentencing is scheduled for July 23, at 11 a.m. before U.S. District Judge Richard D. Bennett. The case adds to the growing list of U.S. enforcement actions involving crypto-related investment schemes. It also shows how prosecutors continue to focus on platforms that promise high returns while failing to meet legal and financial requirements.
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Syed Ali Haider
Ali Haider is a contributing crypto writer at Crypto2Community. He is a crypto and blockchain journalist with over six years of experience and has long advocated for digital freedom and cybersecurity. Haider has been featured in several high-profile crypto and finance outlets, including Coincult, AltcoinBeacon, BTCRead, and more.
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