#hyperverse scam

[giovanni-golino]

Giovanni Golino: The Architect of Hyperverse Ponzi Scheme Exit Scams

Exposing the Tactics of a Deceptive Mastermind

Giovanni Golino, an astute IT professional with residences in Italy, Dubai, and Miami, has emerged as the mastermind behind a series of exit scams targeting victims of the Hyperverse Ponzi scheme.

Motives Behind the Deception

Golino's fraudulent activities are driven by his extensive involvement in pyramid schemes, scams, frauds, and global money laundering operations. With a property worth over 1 million euros in Miami, his opulent lifestyle fuels his illicit endeavors.

A Lucrative Legacy

According to reliable sources, Golino has been amassing an estimated monthly income of $300,000 through his deceptive ventures. His most notable feat was being the top promoter for Hyperfund - Hyperverse in Italy, a pyramid scheme that generated over $40 million. Golino even created a specialized business persona, "Giovanni Golino HyperFund," solely for this enterprise.

The Cunning Fraudster

Giovanni Golino exhibits remarkable cunning and intelligence in his fraudulent exploits. He meticulously selects vulnerable targets, carefully orchestrates scams, flawlessly executes them, and then abandons his unsuspecting downline when the company inevitably collapses.

A Web of Deception

For the past five years, Golino has been involved in a web of scams, bankruptcies, and frauds, primarily within the network marketing sector revolving around cryptocurrency systems. These schemes entice individuals to invest money by referring friends, only to witness the entire structure crumble, leaving victims in financial ruin.

Unveiling "Miner Capital"

There are rumors circulating that Giovanni Golino has launched a new venture called "Miner Capital," following a similar modus operandi. This enterprise operates on a referral marketing system, enticing unsuspecting individuals into its deceitful web. Golino has wasted no time recruiting fresh participants to fuel his fraudulent ambitions.

Reclaiming Your Funds

If you have fallen prey to Hyperfund, Hyperverse, or any other scheme associated with Giovanni Golino, we strongly advise contacting him to recover your lost funds. However, be prepared for a challenging process. Exercise caution and may your pursuit of justice be successful.

[business-news-24]

Kalpesh Patel The Nr. 1 Top Scammer In The World

Why?

Because Kalpesh Patel, a UK citizen who lives in Dubai, is active for 10+ years in Pyramid schemes, Scams, Frauds and money laundering around the world.

According to our sources he is making an estimated $3 million per month and is Hyperfund – Hyperverse Top promoter, a $500 million+ Pyramid Scheme.

Kalpesh Patel is a very intelligent scammer and knows EXACTLY:

Who to scam (young people) How to set up a scam How to execute a scam How to leave his downline in the dust after the company collapse.

A small overview (we might have missed a few…) about his involvement in scams, bankrupt companies and frauds in the past 10 years:

Operation Tarlac – a $15 Million fraud case in the UK. As a result Kalpesh was sentenced to 12 months in prison in the UK: “As a matter of history, from February 2015, Mr Patel was the subject of an investigation by Lincolnshire Police in relation to allegations of money laundering and fraud, involving some £12 million.

He was charged with criminal offences of money-laundering and fraud arising from that investigation. In due time he was tried at the Crown Court at Leicester, between October 2016 and December 2016, and was acquitted.

However, the Crown Court had made a restraint order in respect of his assets pending the resolution of the criminal proceedings, and Mr Patel had been in breach of that order, which he admitted.

As a result, in March 2017 he was sentenced to 12 months’ imprisonment and was fined £330,000″

If you invest your money in Hyperfund or Hyperverse, good luck, you will need it, and we advise you to contact Kalpesh Patel to get your money back.

Disclaimer: While we have used our reasonable efforts to ensure the accuracy of the data used in this website, data should be read as indicative of magnitude rather than exact figures. Business For Home BV has made every attempt to ensure the accuracy and reliability of the information provided on this website.

However, the information is provided “as is” without warranty of any kind. Business For Home BV does not accept any responsibility or liability for the accuracy, content, completeness, legality, or reliability of the information contained on this website. No warranties, promises and/or representations of any kind, expressed or implied, are given as to the nature, standard, accuracy or otherwise of the information provided in this website nor to the suitability or otherwise of the information to your particular circumstances.

[whitemarbernews]

Il super pugile Floyd Mayweather testimonial di QuantWise, il nuovo scam lanciato dai creatori di WeWe

Come era prevedibile, il team dietro ad uno dei più grandi schemi Ponzi crypto degli ultimi anni, WeWe Global, ha lanciato l’ennesima truffa re-brandizzata con un nome differente: QuantWise AI.

WeWe, come abbiamo già spiegato in tanti articoli sul nostro sito, è uno scam che viene da lontano e che ha subito negli anni diversi cambi di nome: LiraCoin, Lyopay, WeWe Global, The Blockchain Era e Xera.

Cos’è e come funziona QuantWise?

QuantWise AI viene pubblicizzato come un bot con dietro un’intelligenza artificiale capace di analizzare i mercati e fare trading profittevole. La piattaforma sfrutta ovviamente il trend delle intelligenze artificiali per vendere un prodotto senza nessuno storico sui risultati e con commissioni altissime (50% per il piano base e 30% per quello premium).

Il canale Telegram dell’azienda è nato a settembre 2023, ma solo negli ultimi due mesi è iniziata la vera e propria promozione del progetto, culminata con un mega evento di presentazione a Dubai avvenuto il 30 marzo scorso in cui erano presenti i più grossi promoter dell’universo di WeWe, tra cui moltissimi italiani come: Alessio Vinassa (funding partner di QuantWise), Paolo De Vita, Nicola Sindaco e Davide Bergese (ex MetFi, Hyperverse e MetaUtopia).

Il super ospite, la mega star internazionale dell’evento, era uno dei più grandi pugili degli ultimi anni: Floyd Maywether, pagato diverse centinaia di migliaia di euro per presenziare pochi minuti sul palco e dare un parvenza di legittimità al progetto.

Mayweather non è nuovo alla promozione a pagamento di scam nel mondo crypto. Nel 2022 era stato indagato insieme a Kim Kardashian per la promozione del token Ethereum Max. Ma andiamo avanti.

I collegamenti con WeWe

In realtà i fondatori di QuantWise non ci provano neanche a nascondersi, l’azienda viene promossa direttamente con il logo “Xera”, uno dei tanti rebrand di WeWe. Basta una breve analisi sui social e vedere le persone presenti all’evento dubaino per notare come il progetto sia spinto solo da grossi promotori di scam. Non a caso il relatore delle presentazioni di QuantWise è Diego Endrizzi, una nostra vecchia conoscenza e uno dei più grandi promoter mondiali di WeWe.

Vediamo poi come l’azienda dietro il progetto, QuantWise Labs LTD ha sede nelle Isole Vergini Britanniche allo stesso indirizzo di The Blockchain Era, un’altra ri-edizione di WeWe.

Conclusioni

Nonostante anni di truffe, circa mezzo miliardo di euro rubati agli utenti e continui re-branding, i creatori di WeWe continuano, indisturbati, a lanciare sul mercato l’ennesimo prodotto truffaldino dai loro attici di Dubai.

La presenza di Floyd Mayweather (oltre che la nostra approfondita analisi on chain), campione di pugilato miliardario, fa capire l’enorme quantità di denaro accumulata dall’organizzazione dietro la truffa nata come LiraCoin, diventata popolare con il nome di WeWe e ora proposta come QuantWise AI.

Nelle prossime puntate dell’inchiesta su WeWe, andremo a vedere i dettagli dell’organizzazione, delle sue ramificazioni passate e presenti e dei flussi economici. Parleremo inoltre di una Lamborghini Urus Bianca, di una mamma che da ex postina diventa direttrice finanziario di un impero, di uffici segreti a Dubai e yacht italiani dedicati a Bitcoin.

[bitcoincables]

ASIC Investigates Collapsed Bitcoin Company Blockchain Global After Guardian Investigation

Australia's corporate regulator, ASIC, will investigate the collapsed bitcoin company Blockchain Global following an investigation by The Guardian Australia. The investigation revealed links between two directors of the company and failed cryptocurrency investment schemes. Blockchain Global collapsed in 2021, owing $58m to creditors. The liquidator has referred its directors to ASIC for potential breaches of the Corporations Act. Initially, ASIC decided not to take action, but after The Guardian's investigation into the HyperVerse crypto investment scheme, ASIC has started examining the liquidator's report. This development comes as Blockchain Global's records also indicate a possible link to the operation of HCash, a cryptocurrency associated with the Hyper investment schemes. The HyperVerse investment scheme, which had links to the directors, resulted in substantial losses for investors. While authorities overseas had flagged it as a possible scam or a suspected pyramid scheme, it went unnoticed by regulators in Australia. Court documents filed in the US allege that HyperVerse operated using fraudulent promotional presentations and that early investors were paid with funds collected from newer investors. However, the court documents do not mention the directors of Blockchain Global. One director, Sam Lee, denies being behind HyperVerse and claims his involvement was limited to technology provision and funds management. Ryan Xu, another director, also featured prominently in promotional material for previous schemes known as HyperFund and HyperCapital. Furthermore, the liquidator of Blockchain Global has discovered two debt transactions totaling $500,000 in the company's main bank account. These transactions are linked to HCash, a cryptocurrency associated with the Hyper investment schemes. It's unclear whether the funds were used as intended. HCash was one of three Australian companies involved in the Hyper investment schemes, along with Collinstar Capital and the HCash Foundation. ASIC documents reveal that HCash Tech Pty Ltd was owned by Ryan Xu and Jianbo "Jacob" Cheng, while Collinstar Capital was initially owned by Xu and later taken over by Cheng. The liquidator's findings have added to the concerns surrounding the collapse of Blockchain Global and the involvement of its directors in questionable cryptocurrency activities. Read the original article: here #ASIC #BlockchainGlobal #CryptocurrencyInvestment #HyperVerse

[cryptosnewss]

HyperVerse Exposed: $1.3B Crypto Scam Unravels Amidst Fake CEO Allegations

Key Points: HyperVerse CEO Steven Reece Lewis’s credentials exposed as fabricated. Celebrity endorsements, including Chuck Norris, under scrutiny for authenticity. Regulatory lapses in Australia as HyperVerse operated with minimal oversight. In a shocking turn of events, The Guardian’s recent investigation has laid bare the intricate web of deception surrounding HyperVerse, a crypto project…

[thenewsart]

$1.3B Loss As Chuck Norris-Endorsed CEO Turns Out To Be Illusion

In a recent investigation by The Guardian, alarming details have emerged regarding a crypto project, HyperVerse, that allegedly lost $1.3 billion of investors’ funds.  The report reveals that the chief executive officer promoted by the project, supposedly backed by celebrity endorsements including Chuck Norris, appears to be absent. Investigation Exposes HyperVerse Crypto Scam HyperVerse,…

[oneman]

This is spectacular even by crypto scam standards:Chief executive of collapsed crypto fund HyperVerse does not appear to exist.

[ailtrahq]

Four Chinese nationals and a Lao citizen were arrested over their role in a Cryptocurrency fraud that caused victims 2.7 billion Baht (approximately 76 million) worth of losses. The Cyber Crime Investigation Bureau (CCIB) of Thailand shared that at least 3,280 people have fallen victim to this Cryptocurrency scam, with reports occurring since November 2022, The Bangkok Post reported. Not just one case of fraud Victims were said to being approached by strangers or foreigners who invited them to invest using foreign Mobile Apps and other online platforms, promising a high return on Investment. Pol Col Kissana, the spokesperson for the CCIB, shared that many victims invested their life savings into this scam, even taking out a second mortgage on their land or home. The investigation found that several of the people running the fraudulent website (bchgloballtd.com) were also linked to other fake platforms. With support from Homeland Security Investigation and other law enforcement agencies, the court was able to approve arrest warrants for the five suspects, four Chinese nationals and Lao citizen. The arrested are accused in colluding to commit transnational crime, public fraud, putting false Information into computer systems and money laundering. A crackdown on fraud Thailand continues to crack down on bad actors in the Cryptocurrency space. In an Aug. 22 News/detail/7229-%E0%B8%94%E0%B8%B5%E0%B8%AD%E0%B8%B5%E0%B9%80%E0%B8%AD%E0%B8%AA-%E0%B9%80%E0%B8%94%E0%B8%B7%E0%B8%AD%E0%B8%94--%E0%B9%80%E0%B8%95%E0%B8%A3%E0%B8%B5%E0%B8%A2%E0%B8%A1%E0%B8%A3%E0%B9%89%E0%B8%AD%E0%B8%87%E0%B8%A8%E0%B8%B2%E0%B8%A5%E0%B8%9B%E0%B8%B4%E0%B8%94-Facebook-%E0%B9%83%E0%B8%99%E0%B9%84%E0%B8%97%E0%B8%A2-%E0%B8%AB%E0%B8%A5%E0%B8%B1%E0%B8%87%E0%B9%80%E0%B8%A1%E0%B8%B4%E0%B8%99-%E0%B8%9B%E0%B8%A5%E0%B9%88%E0%B8%AD%E0%B8%A2%E0%B8%A1%E0%B8%B4%E0%B8%88%E0%B8%89%E0%B8%B2%E0%B8%8A%E0%B8%B5%E0%B8%9E%E0%B8%A2%E0%B8%B4%E0%B8%87-Ad--%E0%B8%AB%E0%B8%A5%E0%B8%AD%E0%B8%81%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B8%8A%E0%B8%B2%E0%B8%8A%E0%B8%99" target="_blank" rel="noopener">report, the country also warned Facebook and its users of a shutdown due to the increase in Cryptocurrency-related scams and other misleading ads that were being found on the platform. In the latest update, the Minister of Digital Economy and Society was taking action against these activities, sharing plans to present their findings in Thai court.  [embed]https://www.youtube.com/watch?v=wsA3W_wHn5U[/embed] A February report from Chainanalysis continues to caution users on the prevalence of crypto scams, highlighting while scam revenue has technically dropped, successful scams (like Hyperverse) are still costing users billions.

[newsroomabc]

Kalpesh Patel The Nr. 1 Top Scammer In The World

Because Kalpesh Patel, a UK citizen who lives in Dubai, is active for 10+ years in Pyramid schemes, Scams, Frauds and money laundering around the world.

According to our sources he is making an estimated $3 million per month and is Hyperfund – Hyperverse Top promoter, a $500 million+ Pyramid Scheme.

Kalpesh Patel is a very intelligent scammer and knows EXACTLY:

Who to scam (young people)

How to set up a scam

How to execute a scam

How to leave his downline in the dust after the company collapse.

A small overview (we might have missed a few…) about his involvement in scams, bankrupt companies and frauds in the past 10 years:

Operation Tarlac – a $15 Million fraud case in the UK. As a result Kalpesh was sentenced to 12 months in prison in the UK:

“As a matter of history, from February 2015, Mr Patel was the subject of an investigation by Lincolnshire Police in relation to allegations of money laundering and fraud, involving some £12 million.

He was charged with criminal offences of money-laundering and fraud arising from that investigation. In due time he was tried at the Crown Court at Leicester, between October 2016 and December 2016, and was acquitted.

However, the Crown Court had made a restraint order in respect of his assets pending the resolution of the criminal proceedings, and Mr Patel had been in breach of that order, which he admitted.

[coinsnewsxyz]

Kalpesh Patel The Nr. 1 Top Scammer In The World

Because Kalpesh Patel, a UK citizen who lives in Dubai, is active for 10+ years in Pyramid schemes, Scams, Frauds and money laundering around the world.

According to our sources he is making an estimated $3 million per month and is Hyperfund – Hyperverse Top promoter, a $500 million+ Pyramid Scheme.

Kalpesh Patel is a very intelligent scammer and knows EXACTLY:

Who to scam (young people)

How to set up a scam

How to execute a scam

How to leave his downline in the dust after the company collapse.

A small overview (we might have missed a few…) about his involvement in scams, bankrupt companies and frauds in the past 10 years:

Operation Tarlac – a $15 Million fraud case in the UK. As a result Kalpesh was sentenced to 12 months in prison in the UK:

“As a matter of history, from February 2015, Mr Patel was the subject of an investigation by Lincolnshire Police in relation to allegations of money laundering and fraud, involving some £12 million.

He was charged with criminal offences of money-laundering and fraud arising from that investigation. In due time he was tried at the Crown Court at Leicester, between October 2016 and December 2016, and was acquitted.

However, the Crown Court had made a restraint order in respect of his assets pending the resolution of the criminal proceedings, and Mr Patel had been in breach of that order, which he admitted.

As a result, in March 2017 he was sentenced to 12 months’ imprisonment and was fined £330,000″

Western Avenue Propeties Fraud case

Hyperfund – a $500 + million scam based in Dubai – Hong Kong

Bonofa – a $100 million fraud based in Germany

Xip4Life – Out of Business

EarlyBird Academy – Out of Business

Zeek Rewards – a $600 million Ponzi Scheme based in the USA

Success University

My Shopping Genie

If you invest your money in Hyperfund or Hyperverse, good luck, you will need it, and we advise you to contact Kalpesh Patel to get your money back.

[newstvf]

Kalpesh Patel The Nr. 1 Top Scammer In The World

Because Kalpesh Patel, a UK citizen who lives in Dubai, is active for 10+ years in Pyramid schemes, Scams, Frauds and money laundering around the world.

According to our sources he is making an estimated $3 million per month and is Hyperfund – Hyperverse Top promoter, a $500 million+ Pyramid Scheme.

Kalpesh Patel is a very intelligent scammer and knows EXACTLY:

Who to scam (young people)

How to set up a scam

How to execute a scam

How to leave his downline in the dust after the company collapse.

A small overview (we might have missed a few…) about his involvement in scams, bankrupt companies and frauds in the past 10 years:

Operation Tarlac – a $15 Million fraud case in the UK. As a result Kalpesh was sentenced to 12 months in prison in the UK:

“As a matter of history, from February 2015, Mr Patel was the subject of an investigation by Lincolnshire Police in relation to allegations of money laundering and fraud, involving some £12 million.

He was charged with criminal offences of money-laundering and fraud arising from that investigation. In due time he was tried at the Crown Court at Leicester, between October 2016 and December 2016, and was acquitted.

However, the Crown Court had made a restraint order in respect of his assets pending the resolution of the criminal proceedings, and Mr Patel had been in breach of that order, which he admitted.

As a result, in March 2017 he was sentenced to 12 months’ imprisonment and was fined £330,000″

Western Avenue Propeties Fraud case

Hyperfund – a $500 + million scam based in Dubai – Hong Kong

Bonofa – a $100 million fraud based in Germany

Xip4Life – Out of Business

EarlyBird Academy – Out of Business

Zeek Rewards – a $600 million Ponzi Scheme based in the USA

Success University

My Shopping Genie

[eveninsight-com]

Hypernation Review: Legit or Another Scam?

A new platform called Hyperation has emerged, promising to create a fully functioning economy that promotes egalitarian policies for the benefit of all people, not just a select few. In this post, we will review Hypernation and tell you whether it Hypernation is legit or scam.

What is Hypernation?

Hypernation is a very new concept, we can also say that it is a nation built within the metaverse. It will employ a new type of economy where decisions will be jointly made by all stakeholders within the nation. The official brand ambassador of this company is Mr. H and he is maintaining anonymity for some vital cause mentioned in the website. There is no information available about its headquarters.

According to SimilarWeb, the total number of visits on its website Hypernation.io is 260k+ with top countries reaching the USA (38%), Spain (18%), and Italy (13%). And, its domain was registered on May 2022, as per WHOIS. Hypernation is operating in blockchain technology as its foundation and selected a UBI policy to authenticate its core tenets and use NFTs as proof of citizenship. Read: Carnelian 12 Review Hypernation Review We investigated the company's claims and economic strategy and discovered several warning signs that one should consider before joining it. Let’s take a closer look: Mr H Gimmick The business has declared an unknown individual named Mr. H to be its official brand ambassador and has given various reasons for this. This anonymous approach needs to be carefully assessed.

The fundamental logic dictates that a typical and respectable business will never select an anonymous personality to represent its brand instead of a prominent personality. Our opinion is that Mr. H is nothing more than a concept developed by its owners to stir up interest in the market and trick consumers. Suspicious Past The umbrella organization through which earlier Ponzi schemes were introduced to the market is called Hypertech. Additionally, numerous reports claim that it was the driving force behind the development of the concurrently released Hypernation platform and another platform called Hyperone.

Sam Lee and Ryan Xu are primarily responsible for the development of all of these prior Ponzi schemes, and we suspect that they are also involved in the launch of Hypernation. We have already reviewed Hyperverse and Hyperfund scams in the past. Operators are Hiding There isn't a single piece of information about their founders or operators on their website or anywhere else, apart from their so-called official brand ambassador. In our opinion, the con artists Sam Lee and Ryan Xu are running this platform and deceiving individuals under the fictitious identity of Mr. H. Its facebook page is operated from Malaysia, hence we suspect Hypernation is managed from Malaysia only. Not Registered Anywhere They are using metaverse to establish a new virtual nation and democracy and are enticing people to purchase NFTs to join the new nation. Metaverse is a brand-new concept, and many of you may be still unfamiliar with it. Despite their promises to be building new nations and other things, it is crucial for a company seeking investments from the general public to be registered somewhere and be subject to local regulation. Many such unofficial organizations fooled people with these fancy tech terms. Lack of Transparency After all the bogus things they mentioned on their website, they haven't specified the structure of this platform, such as how choices will be taken with the coordination of all members. The most crucial thing that they haven't disclosed is the name of the team working behind this company strategy, along with other things like how it will help its users and how much it will benefit. Ponzi Scheme Scam Hypernation is nothing more than a Ponzi Scheme. It is selling citizenship packages with its shitcoin HNT token. Also, they brought the bogus NFT collection and claimed to build an ecosystem. Hypernation founders have already looted many people around the world in the last 5-6 years and they are not going to stop. So beware and don't get lured in false claims. Read: Movss8 Review Should I Join Hypernation? No, you should not join companies of this nature that have a history full of scams. By employing odd and esoteric terms, they will dupe you into falling for their deception. Hypernation can collapse anytime and most of the investors will lose their money. Don't be soo greedy to understand the dark reality of it. Share this post to prevent your known ones. Read: Mainet Business Review Read the full article

[giovannigolino]

Giovanni Golino: Mastermind behind Hyperverse Ponzi Scheme Exit Scams

Unveiling the Deceptive Tactics of a Seasoned Fraudster

Giovanni Golino, a shrewd IT citizen who divides his time between Italy, Dubai, and Miami, has emerged as the orchestrator of a series of exit scams targeting victims of the Hyperverse Ponzi scheme.

Motives Behind the Deception

The motivations driving Golino's fraudulent activities are deeply rooted in his extensive involvement in pyramid schemes, scams, frauds, and money laundering schemes worldwide. His opulent lifestyle includes a lavish Miami property valued at over 1 million euros, further fueling his illicit endeavors.

A Lucrative Legacy

Our sources reveal that Golino has amassed a staggering monthly income of around $300,000 throughout his deceitful career. His most notable achievement was as the leading promoter for Hyperfund - Hyperverse in Italy, a pyramid scheme that amassed over $40 million. Notably, Golino crafted a dedicated business persona named "Giovanni Golino HyperFund" solely for this venture.

The Cunning Scammer

Giovanni Golino demonstrates remarkable cunning and intelligence in his fraudulent exploits. With precision, he identifies vulnerable targets, meticulously sets up scams, flawlessly executes them, and abandons his unsuspecting downline once the company inevitably collapses .

A Web of Deception

Over the past five years, Golino's involvement in scams, bankruptcies, and frauds has been intricately linked to network marketing activities revolving around cryptocurrency systems. These schemes entice individuals to invest money by referring friends, only to witness the entire structure crumble, leaving victims in financial ruin.

Unveiling "Miner Capital"

Rumors are swirling that Giovanni Golino has embarked on a new venture named "Miner Capital," following the same modus operandi. This enterprise operates on a referral marketing system, luring unsuspecting individuals into its web of deceit. Golino has wasted no time in recruiting fresh participants to further fuel his fraudulent ambitions.

Reclaiming Your Funds

If you have fallen victim to Hyperfund, Hyperverse, or any other scheme associated with Giovanni Golino, we strongly urge you to contact him in an attempt to reclaim your lost funds. However, we must caution you that recovering your money will undoubtedly be a formidable challenge. Approach this endeavor with caution and may fortune favor your pursuit of justice.

[bitcoincables]

Bitcoin Rodney Arrested for Involvement in Cryptocurrency Pyramid Scheme

This article discusses the arrest of Rodney Burton, also known as "Bitcoin Rodney", for his involvement in a cryptocurrency pyramid scheme. Burton presented himself as a financial guru and often associated with celebrities. However, he is now facing charges related to operating an unlicensed money transmitting business and illegally transferring currency. The broader accusations claim that the cryptocurrency operation, HyperVerse, defrauded investors of around $1.3 billion.

This arrest deals yet another blow to those hoping to make quick fortunes in cryptocurrency. Burton's flashy lifestyle and endorsements from celebrities added to his allure, but the charges against him reveal a darker side. The collapse of HyperVerse serves as a reminder of the risks and scams prevalent in the cryptocurrency world.

Read the original article for more information about Burton's arrest and the allegations against him.

[kaddeesh]

Ponzi & Pyramid Schemes vs. Hyperverse

Ponzi & Pyramid Schemes vs. Hyperverse

What is a Ponzi Scheme? A Ponzi scheme is a form of fraud that lures its victims in with the promise of huge profits but pays profits to earlier investors with funds from more recent investors. The scheme leads victims to believe that profits are coming from legitimate business activity, and they remain unaware that other investors are the source of funds. Ponzi schemes promise high financial…