HyperFund (HyperVerse): a pyramid sold as crypto mining
HyperFund sold memberships promising steady income from crypto mining. In 2024 the US SEC and Justice Department brought cases, alleging no large-scale mining ever took place.
Last reviewed: 15 October 2026
- Period
- 2020 – 2022
- Losses
- More than $1.7 billion raised worldwide, according to the US SEC.
Red flags
- "0.5–1% a day from mining"
- Memberships promising double or triple returns within a set period
- Repeated renaming and rebranding
How it worked
HyperFund, later rebranded as HyperVerse and other names, sold memberships and claimed they would earn a fixed daily return from crypto mining. The SEC alleges the company did no large-scale crypto mining, and that it was a multi-level-marketing pyramid and Ponzi scheme.
Legal consequences
In January 2024 the SEC sued the founder and a top promoter. The US Justice Department also brought criminal charges against the founder and others, and one of them has been sentenced.
The lesson
An ordinary investor has no way to verify "guaranteed daily income from mining". See how Bitcoin mining works.
Sources
This page is based on allegations and reports published by the sources cited; allegations are unproven until a court rules. Tell us if anything is inaccurate.