Hyperverse scams

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Understanding the hyperverse scam

What is the HyperVerse scheme?

HyperVerse was a fraudulent crypto investment scheme, said to have totalled almost $2 billion from unknowing investors around the world.

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    Detailing the hyperverse scheme

    Built on the promises of high returns, the scam was essentially a Ponzi scheme, only allowing the founders to make money from it.

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    Pyramid scheme

    It’s said that HyperVerse, under the HyperFund name, had no legitimate source of revenue and, in true pyramid scheme fashion, any investor-requested withdrawals were covered by deposits made from new investors.

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    Financial warnings

    Since its inception back in 2020, HyperVerse found itself on the list of many different watchdog groups across the world, all warning investors not to use the platform. The Financial Market Authority in New Zealand even issued a public warning for investors that they believed the platform was not legitimate.

About HyperVerse

What was the purpose of HyperVerse?

HyperVerse was a decentralised Blockchain platform, which allowed users or members to socialise and trade with one another. It was unique from other platforms in that it combined a focus of gaming and socialisation and had its own token – HVT. If legitimate, would have likely been successful within the Crypto industry with the unique blend of Blockchain and Metaverse.

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Was HyperVerse a fake platform?

Although the HyperVerse platform was very much real, in that it allowed investors to “invest” their funds and offered a Metaverse-style interaction between members, it was ultimately a pyramid and Ponzi scheme style of scam. There was no money to be made from investing on the platform, with those who did manage to make withdrawals doing so from the deposits and memberships of newer members.

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Who is the founder of HyperVerse?

The HyperVerse scheme was founded by Australian entrepreneur Sam Lee, along with his business partner Ryan Xu. It is one of many different investment schemes set up by the duo, especially under the HyperFund umbrella. They also co-founded the collapsed Blockchain Global – an Australian Bitcoin company – which was put into administration in 2021 and is noted to still owe its creditors roughly $58m. These different schemes have all seen the same results, and that’s investors losing their deposits

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Avi Chinn, Head of First Response

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Over the past 3 years, we’ve recovered more than $45,000,000 for our clients. It’s thanks to our team of solicitors and recovery claim specialists who trace and recover the investments you’ve lost from scams. Plus, we offer a no-win, no-fee service. You won’t pay a thing unless we recover your money.

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Recover Your Funds with Reliable and Expert Support

Wealth recovery experts provide professional digital fund fraud recovery services to help victims recover funds and provide financial security. Whether you have experienced investment fraud, cryptocurrency scams or online financial fraud, our team of experts can handle complex cases and provide tailored solutions to recover lost funds and restore financial security. We also use legal agencies and a variety of advanced tools to track down scammers and recover your funds.

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Frequently asked questions

  • Was HyperVerse a fake platform?

    Although the HyperVerse platform was very much real, in that it allowed investors to “invest” their funds and offered a Metaverse-style interaction between members, it was ultimately a pyramid and Ponzi scheme style of scam. There was no money to be made from investing on the platform, with those who did manage to make withdrawals doing so from the deposits and memberships of newer members.

    As with all Ponzi and pyramid schemes, the funds had to run out eventually and, when HyperVerse collapsed, the only people who seemed to make a profit were its founders, leaving investors in the dark about where exactly their money had gone and whether it could be recovered.

  • What was the purpose of HyperVerse?

    HyperVerse was a decentralised Blockchain platform, which allowed users or members to socialise and trade with one another. It was unique from other platforms in that it combined a focus of gaming and socialisation and had its own token – HVT. HyperVerse was a virtual cosmos which allowed users – called Voyagers within the platform – to create and trade virtual items. It was a highly interesting concept and one which, if legitimate, would have likely been successful within the Crypto industry with the unique blend of Blockchain and Metaverse.

  • Who is the founder of HyperVerse?

    The HyperVerse scheme was founded by Australian entrepreneur Sam Lee, along with his business partner Ryan Xu. It is one of many different investment schemes set up by the duo, especially under the HyperFund umbrella. They also co-founded the collapsed Blockchain Global – an Australian Bitcoin company – which was put into administration in 2021 and is noted to still owe its creditors roughly $58m. As well as HyperVerse and Blockchain Global, Lee and Xu have publicly promoted various other failed crypto schemes which have also led to traders being unable to withdraw their funds and initial investments.

    These different schemes have all seen the same results, and that’s investors losing their deposits. As of January 2024, the founders have been hit with both criminal and civil charges, only adding to the chequered history of defunct schemes.

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