Risk register · entry
Q-F · FraudHyperFund / HyperVerse
A crypto Ponzi with an actor hired to play the fake CEO.
The fifth quadrant, where the thing was never real. The tell is that the story is too clean.
Why this quadrant
A fixed daily return until your money doubles is not a business, it is a schedule, and the only variable is when new deposits stop covering it. HyperFund also hired an actor to play a chief executive who did not exist. Investors lost up to 1.89 billion dollars.
The record
- Total investor losses estimated at up to $1.89 billion (SEC civil complaint cites more than $1.7 billion raised)likely
- HyperFund launched June 2020; rebranded to HyperVerse December 2021certain
- Minimum membership investment: $300likely
- Promised daily passive rewards: 0.5% to 1% until principal doubled or tripledlikely
- Fake CEO 'Steven Reece Lewis' introduced December 2021, exposed as fabricated by journalists in 2024certain
- Actor Stephen Harrison paid approximately $4,000 to $7,500 to play the CEO rolelikely
- Withdrawals blocked starting around July 2021likely
- Chainalysis ranked HyperVerse the largest crypto scam of 2022likely
- DOJ criminal indictment of Sam Lee for wire fraud conspiracy: January 25, 2024certain
- SEC civil complaint filed against Lee and Chunga: January 29, 2024certain
- Brenda Chunga's personal proceeds: approximately $3.7 million, including a $1.2M Maryland home and $1.1M Dubai condolikely
- Sam Lee's prior venture, Blockchain Global, collapsed in 2021 owing creditors $58 millionlikely
- Sam Lee surrendered to Dubai authorities November 2024 after Interpol Red Notice, detained 60 dayslikely
Sources
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