Xue Sam Lee (HyperFund Co-Founder)
Summary
Xue 'Sam' Lee, an Australian citizen residing in Dubai, is the alleged co-founder of HyperFund (also marketed as HyperVerse, HyperTech, HyperCapital, and HyperNation), a cryptocurrency investment scheme that U.S. authorities allege defrauded investors of approximately $1.89 billion between June 2020 and November 2022. In January 2024, the U.S. Department of Justice unsealed a criminal indictment and the SEC filed parallel civil charges against Lee for conspiracy to commit securities fraud and wire fraud. Lee was detained in Dubai in October 2024 following an Interpol Red Notice but, as of June 2026, has not been extradited to the United States and maintains his innocence.
Connected Entities
1 entities · 10 linked investigations- + 5 more
Timeline(15 events)
2014-01-01
Sam Lee and Ryan Xu co-found Bitcoin Group in Australia, later rebranded as Blockchain Global in 2016.
Blockchain Global — Wikipedia2020-06-01
HyperFund launches, offering investors 0.5%–1% daily returns allegedly backed by crypto mining operations.
DOJ: HyperFund and Associated Cases2021-07-01
HyperFund begins blocking investor withdrawal requests, according to DOJ court filings.
DOJ: HyperFund and Associated Cases2021-10-01
Blockchain Global enters voluntary administration in Australia owing creditors approximately AUD $58 million.
ASIC Probes Crypto Firm Blockchain Global Collapse2021-12-01
HyperFund rebrands as HyperVerse at a global launch event. A fictional CEO 'Steven Reece Lewis,' portrayed by British actor Stephen Harrison, is presented to investors.
CoinDesk: HyperVerse's Alleged Ponzi Scheme Raked in Nearly $2B, Hired Actor as Fake CEO2022-05-01
HyperVerse rebrands again as HyperNation as the scheme nears collapse.
Hypertech Group Historical Timeline — dehek.com2022-11-01
HyperFund/HyperVerse scheme effectively collapses; investor withdrawals fully halted.
DOJ: HyperFund and Associated Cases2023-01-01
Chainalysis publishes 2022 crypto scam report ranking HyperVerse as the largest cryptocurrency scam of 2022 with approximately $1.3 billion in investor losses.
Chainalysis: Crypto Scam Revenue Dropped 46% in 20222024-01-29
DOJ unseals criminal indictment against Sam Lee (Case No. 24-CR-21) and SEC files parallel civil fraud complaint; Brenda Chunga simultaneously enters a guilty plea.
CNBC: DOJ and SEC unveil charges in $1.9 billion HyperFund cryptocurrency fraud2024-10-01
UAE authorities detain Sam Lee at Dubai's Al Aweer Central Prison following an Interpol Red Notice.
BusinessForHome: HyperFund Co-Founder Sam Lee Arrested In Dubai For $1.8 Billion Fraud2024-11-05
SEC successfully serves Lee with the civil fraud complaint while he is imprisoned in Dubai.
SEC Litigation Release LR-259332024-12-01
Lee is released from Dubai detention after approximately 60 days; extradition to the U.S. does not occur due to the absence of a U.S.-UAE extradition treaty.
99Bitcoins: Who is Sam Lee Crypto? Where is Crypto Billions Fraudster Now?2025-03-10
Bloomberg publishes a video interview with Lee in which he denies the charges and claims any misuse of funds was conducted by others.
Bloomberg: Dubai's Billion-Dollar Crypto Underworld2025-10-01
An Australian federal court bars Ryan Xu from leaving Australia until December 20, 2025, following ASIC proceedings related to Blockchain Global.
ASIC Probes Crypto Firm Blockchain Global Collapse2026-06-15
Co-promoter Rodney Burton ('Bitcoin Rodney') pleads guilty to conspiracy to operate an unlicensed money transmitting business in U.S. District Court in Maryland; sentencing set for July 23, 2026.
Crypto Briefing: Florida man Rodney Burton pleads guilty in $1.89B HyperFund crypto fraud schemeDecision Log
- hash: HZksysNTbjTofW1Uz9ypX1QJG16moMzY2shtV4m9CcfP
This investigation is cryptographically anchored to the Solana blockchain and source URLs are archived via the Internet Archive.
model: claude-sonnet-4-6
generated: 6/18/2026, 5:16:53 PM
last updated: 6/18/2026, 5:17:04 PM
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