Crypto Fraud Unveiled: $1.3B Loss As Chuck Norris-Endorsed CEO Turns Out To Be Illusion
2024年1月5日 - 12:00PM
NEWSBTC
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,
promoted by Australian entrepreneur Sam Lee and his business
partner Ryan Xu, founders of the now-collapsed Australian Bitcoin
(BTC) company Blockchain Global, has been scrutinized for its
deceptive practices. The project attracted thousands of investors,
who ultimately lost millions of dollars. The investigation raises
concerns about the legitimacy of HyperVerse’s CEO, as the
qualifications and credentials attributed to the supposed chief
executive, Steven Reece Lewis, have no basis. Related
Reading: XRP Price Set To Spike As Ripple Enters Another $1.5
Trillion Industry Promotional material released for HyperVerse
claimed that Lewis graduated from the University of Leeds and held
a master’s degree from the University of Cambridge. However,
neither institution has any record of his existence. Furthermore,
there are no records of Lewis on the UK companies register,
Companies House, or the US Securities and Exchange Commission
(SEC). Interestingly, Adobe, a publicly listed company, also
has no record of any acquisition involving a company owned by
“Steven Reece Lewis.” The report indicates that HyperVerse managed
to secure celebrity endorsements, including video messages of
support from Steve Wozniak, co-founder of Apple, and actor Chuck
Norris. However, it is unclear how these messages were
obtained, as all four celebrities mentioned in the report are
available for hire through Cameo, where individuals can pay to have
high-profile individuals read scripted messages. Australian
Authorities Under Fire The investigation also highlights regulatory
concerns, as HyperVerse operated without significant scrutiny in
Australia despite being flagged by regulators overseas as a
possible scam or suspected pyramid scheme. The Australian
Securities and Investments Commission (ASIC) has been referred to
the case but has not yet taken action. Investors in HyperVerse were
lured with promises of substantial returns and the opportunity to
explore a new digital metaverse similar to Facebook. However,
the scheme ultimately resulted in significant losses for investors,
estimated at $1.3 billion in 2022, according to blockchain analysts
Chainalysis. Related Reading: Crypto Analyst Predicts Cardano Price
Jump In January – Here’s The Target The Guardian’s findings shed
light on the deceptive practices employed by HyperVerse and raise
questions about the responsibilities of regulators in overseeing
such projects. As the aftermath of this cryptocurrency
scandal unfolds, investors and authorities alike are left grappling
with the consequences of a scheme that capitalized on false claims
and celebrity endorsements to defraud unsuspecting individuals.
Featured image from Shutterstock, chart from TradingView.com
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