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

CoinFeed June 18 news, according to Cryptopolitan, Miami cryptocurrency promoter Rodney Burton (nicknamed "Bitcoin Rodney") pleaded guilty in U.S. federal court to one count of conspiracy to operate an unlicensed money transmitting business for his involvement in the $1.8 billion HyperFund crypto fraud scheme. The 56-year-old Burton admitted to operating entities disguised as consulting firms that were actually unlicensed money transmitting businesses, laundering funds for HyperFund investors and personally profiting at least $7.85 million. HyperFund promised investors daily passive returns of 0.5% to 1%, claiming they came from large-scale crypto mining operations, but in reality those mining operations did not exist.