Svmuu News: Rodney “Bitcoin Rodney” Burton, a resident of Miami, Florida, has pleaded guilty in federal court to participating in a cryptocurrency fraud scheme linked to HyperFund, involving approximately $1.8 billion. According to disclosures by federal prosecutors in Maryland, Burton pleaded guilty to “conspiracy to operate an unlicensed money transmission business.” Between June 2020 and January 2022, he participated in promoting this Ponzi scheme and profited approximately $7.85 million from it. Law enforcement authorities noted that HyperFund attracted investors with promises of high returns—"0.5% to 1% daily"—but in reality, there was no genuine cryptocurrency mining or sustainable source of revenue. The funds essentially came from new investors, constituting a classic Ponzi scheme, and the project began restricting withdrawals in 2021. The U.S. Department of Justice stated that the project raised funds from investors through global financing and, during its operation, used those funds for promotion and money transfers, constituting a large-scale cross-border telecommunications fraud network. Burton faces up to five years in federal prison, with a sentencing hearing scheduled for July 23. Law enforcement officials stated that the case was jointly investigated by the IRS Criminal Investigation Division and the Homeland Security Investigations (HSI). (U.S. Department of Justice)