According to the U.S. Attorney's Office for the District of Maryland, Rodney Burton, 56, pleaded guilty on June 17 to conspiracy to operate an unlicensed money transmitting business. Burton, known as "Bitcoin Rodney," promoted HyperFund between June 2020 and January 2022, a cryptocurrency investment platform that defrauded investors of approximately $1.8 billion globally.
Federal prosecutors alleged that Burton personally received at least $7.85 million in proceeds from the scheme. He faces a maximum sentence of five years in federal prison, with sentencing scheduled for July 23.