'Bitcoin Rodney' Admits Guilt in $1.8 Billion HyperFund Crypto Scam, Faces Up to Five Years Rodney Burton, a 56-year-old Florida man known online as 'Bitcoin Rodney', has pleaded guilty in a Baltimore federal court to conspiring to run an unlicensed money transmitting business tied to a $1.8 billion HyperFund cryptocurrency fraud. A Florida man who built an online identity as 'Bitcoin Rodney' walked into a Baltimore federal court this week and admitted his guilt. Prosecutors say he conspired to operate an unlicensed money transmitting business that was wired into a $1.8 billion cryptocurrency fraud scheme. Who Is the Accused The man at the center of the case is 56-year-old Rodney Burton of Miami, who also keeps a home in Prince George's County, Maryland. He acknowledged promoting HyperFund, a cryptocurrency platform that, according to prosecutors, was really a sprawling wire-fraud operation aimed at investors across the globe. How the Scheme Worked Court documents lay out that Burton conspired between June 2020 and January 2022 to supply unlicensed money-transmitting services that pushed HyperFund forward, lining his own pockets along the way. The platform sold itself to investors as a legitimate place to put their crypto money. It dangled daily returns of 0.5% to 1% on 'memberships', a payout it claimed would keep flowing until an investor's original stake had doubled or tripled. HyperFund told its members that part of this money came from the proceeds of large crypto-mining operations. Prosecutors say those mining operations never existed in the first place. By 2021, the company had started blocking investor withdrawals entirely. Millions Allegedly Pocketed Burton is accused of running a web of companies that posed as consulting firms but actually operated as unlicensed money transmitters, channeling investor cash straight into the scheme. Prosecutors say he personally took home more than $7.8 million from the operation, some of it drawn from victims based in Maryland. What Happens Next The conspiracy charge carries a possible sentence of up to five years in prison. Sentencing before U.S. District Judge Richard D. Bennett is scheduled for July 23. Assistant U.S. Attorney Christina A. Hoffman is handling the prosecution. Authorities say the case underscores the ongoing crackdown on cryptocurrency platforms accused of hiding fraud behind a wall of investment hype. The Celebrity Connection According to TrendKia, 'Bitcoin Rodney' leaned on famous friends like actor Jamie Foxx and rapper Rick Ross to lift his public profile. In 2021 he threw a crypto conference in Miami that drew appearances from 'Shark Tank' investor Draymond Green, 'Wolf of Wall Street' author Jordan Belfort, singer Akon and comedian Tiffany Haddish. What this means for you What this means for everyday investors: • For crypto investors: Any platform promising fixed daily returns (like 0.5% to 1%) and a guarantee to double or triple your money is usually a red flag for fraud, so be cautious before putting money in. • Beware celebrity hype: Famous names attached to a scheme do not make it safe, and this case is a direct example of that. Questions & Answers 1. Who is 'Bitcoin Rodney'? He is 56-year-old Rodney Burton of Miami, who also has a home in Prince George's County, Maryland. He has admitted to promoting the HyperFund crypto platform. 2. How big was the HyperFund scam? Prosecutors say it was a $1.8 billion cryptocurrency fraud scheme that targeted investors around the world. 3. How much did Burton personally make? Prosecutors say he pocketed more than $7.8 million from the operation, with some of it drawn from victims based in Maryland. 4. What punishment does he face now? He faces up to five years in prison on the conspiracy charge, with sentencing scheduled for July 23. https://trendkia.com/en/business/bitcoin-rodney-ne-kabula-jurma-1-8-araba-dolara-ke-hyperfund-kripto-ghotale-men--1537 TrendKia — Har trend, sabse pehle.