Woofun AI reports that Rodney Burton, a Miami-based cryptocurrency promoter known as 'Bitcoin Rodney', entered a guilty plea in U.S. federal court regarding the $1.8 billion HyperFund fraud scheme. The 56-year-old admitted to orchestrating a conspiracy to operate an unlicensed money transfer business, utilizing shell consulting firms to launder investor funds and personally profiting at least $7.85 million. HyperFund had falsely promised daily passive returns of 0.5% to 1%, attributing these gains to non-existent large-scale cryptocurrency mining operations.

Burton was apprehended in January 2024 at Miami International Airport while attempting to flee to the UAE on a one-way ticket. Initially charged with two counts of unlicensed money transfer, the indictment expanded to 11 counts, encompassing conspiracy to commit telecommunications fraud and money laundering. The current plea addresses only the conspiracy charge, carrying a maximum sentence of five years. Sentencing is scheduled for July 23.

Meanwhile, HyperFund co-founder Xue 'Sam Lee' Lee remains at large, and another associate, 'Bitcoin Beautee', also pleaded guilty on the same day.