Rodney Burton Pleads Guilty in $1.8 Billion HyperFund Ponzi Scheme
Rodney Burton, widely known as “Bitcoin Rodney,” has formally pleaded guilty in a Maryland federal court. He admitted to conspiracy to operate an unlicensed money transmitting business as part of the massive HyperFund cryptocurrency fraud.
Plea Agreement Details
Burton reached a plea deal with the Department of Justice (DOJ). The agreement followed a re-arraignment request on June 2, 2026, and was finalized on June 15, 2026.
Under the deal, Burton accepts full responsibility for running an illegal money-routing network that funneled millions of dollars into the HyperFund ecosystem. He now faces up to five years in federal prison. He also faces significant financial penalties, asset forfeiture, and restitution to victims.
U.S. District Judge Richard D. Bennett has set the sentencing date for July 23, 2026.
HyperFund: A Massive Crypto Ponzi Scheme
HyperFund was a fraudulent cryptocurrency platform that used fake mining operations and multi-level marketing tactics. It tricked investors worldwide and caused losses of around $1.8 billion.
Burton served as one of the main global promoters for the scheme, which was co-founded by Sam Lee.
Status of Other Defendants
Eddy Alexandre is currently serving a nine-year prison sentence.
He pleaded guilty to commodities fraud in 2023.
Despite his conviction, he continued to challenge the civil case.
However, the court dismissed all remaining motions.
Settlement With Former Employees
Federal authorities indicted Burton, Sam Lee, and Brenda Chunga in January 2024.
- Brenda Chunga has already signed a pre-arrest plea deal. Her sentencing is scheduled for early 2027.
- Sam Lee remains a fugitive and is believed to be hiding in Dubai, United Arab Emirates.
What This Means for Victims
This guilty plea marks a major step forward in the federal prosecution of the HyperFund scam. It highlights the serious consequences of promoting unlicensed crypto schemes and brings hope of restitution for thousands of affected investors.
The case continues to expose how pyramid-style structures and false promises in the crypto space can lead to massive financial harm.
