Bitcoin Rodney Pleads Guilty in $1.8 Billion Crypto Ponzi Scheme

A prominent cryptocurrency promoter, known as Bitcoin Rodney, has pleaded guilty in connection with the massive HyperFund crypto ponzi scheme case. The Miami-based individual, whose real name is Rodney Burton, confessed to running an unlicensed money-transmitting enterprise while marketing HyperFund, which U.S. prosecutors claim brought in approximately $1.8 billion from investors around the globe.

Burton was one of the most prominent advocates of HyperFund and used his influence to recruit new investors to the platform from June 2020 until January 2022. He personally made at least $7.85 million from his involvement in the operation, which authorities said he used to purchase luxury properties, sports cars, and a yacht.

The guilty plea is a significant step in one of the biggest cryptocurrency fraud cases in recent years, with Burton facing a maximum of 5 years in prison. His sentencing is scheduled for July 23.