PANews, June 18 – According to Cryptopolitan, Miami cryptocurrency promoter Rodney Burton (known as "Bitcoin Rodney") has pleaded guilty in U.S. federal court to one count of conspiracy to operate an unlicensed money transmitting business in connection with the $1.8 billion HyperFund crypto fraud scheme. The 56-year-old Burton admitted to operating entities disguised as consulting firms that were actually unlicensed money transmitting businesses, laundering funds for HyperFund investors and personally profiting at least $7.85 million. HyperFund promised investors passive returns of 0.5% to 1% per day, allegedly generated from large-scale crypto mining operations that, in reality, did not exist.

Burton was arrested at Miami International Airport in January 2024 while holding a one-way ticket to the UAE and has been detained after a federal judge deemed him an "extreme flight risk." Initially charged with two counts of unlicensed money transmission, the charges later expanded to 11 counts, including conspiracy to commit wire fraud and money laundering. This guilty plea pertains only to the conspiracy charge, which carries a maximum sentence of five years, with sentencing scheduled for July 23. HyperFund co-founder Xue "Sam Lee" Lee remains at large, while another promoter, "Bitcoin Beautee," pleaded guilty on the same day.