New Zealand’s HyperFund securities fraud alert has been updated to include Hyperverse.
On September 30th, 2021, the Financial Markets Authority of New Zealand issued its first HyperFund fraud notice.
In early December, HyperFund went bankrupt and was relaunched as Hyperverse.
The FMA added Hyperverse and the domain “thehyperverse.net” to its warning on or around December 20th.
HyperFund promises to offer passive investment options and operates on a Multi-Level Marketing (MLM) platform.
We’ve heard that they’re looking for affiliate investors in New Zealand. In New Zealand, it is not registered or regulated to provide financial services or products.
Thehyperfund.com has been redirected to thehyperverse.net.
Although Hyperverse hasn’t officially shut down, withdrawals are still being restricted.
Desperate Hyperverse investors are compelled to use crypto pools to pay out their HVT for pennies on the dollar.
Affiliates who do not solicit new investors will be penalized with GNX tokens that they will not be able to withdraw.
Last year, Hyperverse founders Ryan Xu and Sam Lee escaped to Dubai.
Since it was revealed that Australian liquidators were attempting to collect tens of millions of dollars in damages, Xu and Lee had remained in hiding.
The vast majority of Hyperverse victims are thought to be in the United States. Hyperverse and its leadership have yet to be sanctioned by US officials.