A federal grand jury in Baltimore returned a superseding indictment on December 12, 2025, charging Rodney “Bitcoin Rodney” Burton, 56, of Miami, Florida, and Prince George’s County, Maryland, with conspiracy to commit wire fraud, two counts of wire fraud, seven counts of money laundering, and operating an unlicensed money transmitting business. The charges stem from Burton’s alleged role as a promoter in a $1.8 billion cryptocurrency fraud scheme involving HyperFund and related platforms.
U.S. Attorney Kelly O. Hayes for the District of Maryland announced the indictment alongside Special Agent in Charge Kareem Carter of Internal Revenue Service Criminal Investigation in Washington, D.C., and Special Agent in Charge Ricky J. Patel of Homeland Security Investigations in New York. The case builds on earlier charges against Burton and others connected to the scheme.
Court documents allege that from June 2020 to May 2024, Burton and co-conspirators promoted HyperFund as a legitimate cryptocurrency investment platform offering membership packages with promised daily passive rewards of 0.5 to 1 percent until doubling or tripling the initial investment. Promotional materials claimed returns would come partly from revenues generated by large-scale cryptocurrency mining operations.
Prosecutors state HyperFund had no such mining operations and operated as a pyramid scheme reliant on new investor funds. Starting in 2021, the platform began restricting or blocking withdrawals. Victims included investors in Maryland, with the scheme affecting individuals across the United States and internationally.
The superseding indictment further alleges Burton used proceeds from investors to purchase luxury condominiums, sports cars, and a yacht. Burton was initially arrested in January 2024 on a criminal complaint related to unlicensed money transmission and has remained in custody after a federal judge denied bail, citing flight risk concerns.
This case ties into broader prosecutions involving HyperFund, also known under names like HyperTech, HyperCapital, HyperVerse, and HyperNation. In January 2024, authorities charged alleged co-founder Sam Lee, an Australian citizen, and promoter Brenda Chunga of Severna Park, Maryland, who pleaded guilty to conspiracy charges. The scheme reportedly raised between $1.7 billion and $1.89 billion globally, with no legitimate revenue sources beyond investor deposits.
An indictment represents charges, not proof of guilt. Defendants are presumed innocent until proven otherwise in court. If convicted, Burton faces up to 20 years in federal prison for the wire fraud conspiracy and each wire fraud count, up to 10 years for each money laundering count, and up to five years for the unlicensed money transmitting business charge. Federal judges determine sentences based on U.S. Sentencing Guidelines and other factors, often resulting in terms below maximum penalties.
Hayes commended IRS-CI and HSI-New York investigators. Assistant U.S. Attorneys Spencer L. Todd and Christina A. Hoffman are handling the prosecution. The case proceeds in the U.S. District Court for the District of Maryland.
Cryptocurrency fraud cases have increased as digital assets gain popularity. Federal agencies like IRS-CI and HSI focus on schemes promising guaranteed high returns, often lacking registration or legitimate operations. In Maryland, proximity to federal agencies in Washington, D.C., facilitates investigations into financial crimes affecting local residents. Prince George’s County, bordering the nation’s capital, has seen residents involved in or impacted by such cases, underscoring risks in unregulated investments.
Investors encountering similar platforms can report concerns to authorities through channels provided by the Department of Justice or Securities and Exchange Commission.