April 23, 2024

This multi-million crypto rug pull has a new twist: The CEO may not exist

The Guardian Australia published an investigation several months ago into a crypto scheme-slash-scam called HyperVerse, a fund that used major celebrity endorsements to attract millions of dollars from small investors before collapsing. Blockchain Global went bust owing $58 million USD in 2021, but now there’s a rather classic fraudster sting in the tail: The CEO who promoted this scheme doesn’t seem to be a real person.

HyperVerse was promoted by Blockchain Global co-founders Sam Lee and Ryan Xu, both of whom have been referred to the Australian Securities and Investments Commission: Lee denies HyperVerse was a scam and disputes his founding status, Xu has said nothing. But the company’s CEO was one Steven Reece Lewis, who appeared at the scheme’s launch in late 2021 alongside video messages supporting HyperVerse from, among others, Apple co-founder Steve Wozniak and actor Chuck Norris.

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