"Alleged $2B HyperFund Cryptocurrency Ponzi Scheme Unveiled by DOJ and SEC"

The U.S. SEC and a grand jury have alleged that HyperVerse, a fraudulent crypto investment scheme, raked in nearly $2 billion by cheating investors with a pyramid and Ponzi scheme, and even hired an actor to pose as its CEO. The SEC lawsuit accuses the founders of cheating investors and demands they return any ill-gotten gains, with one of the accused agreeing to settle the charges. The scheme's promoters are also facing criminal indictments for wire fraud, and earlier this month, another individual was arrested for allegedly defrauding millions through the same scheme.