Australian blockchain entrepreneur Sam Lee, once considered the "crown prince of Bitcoin," is now facing fraud charges from the U.S. Department of Justice and the Securities and Exchange Commission. He is accused of running a $1.89 billion Ponzi scheme through his HyperVerse and HyperFund crypto investment schemes, defrauding thousands of investors. Lee used a multi-level marketing scam to attract investors, promising guaranteed profits but instead funneling their money into a fraudulent system. One of his promoters has already pleaded guilty and admitted to using investors' funds for personal gain. Lee has surrendered to Dubai authorities but remains defiant, dismissing the accusations and suggesting future ventures in the crypto space. However, his new venture raises concerns of another scam, with warning signs and lack of trustworthiness. The question is whether authorities are paying attention to his activities.



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