What is the HyperVerse Cryptocurrency scam that has targeted victims the world over?
The HyperVerse scam was a cryptocurrency concept touted by serial crypto entrepreneur, Sam Lee and his co-founders. The concept lured investors with promises of huge returns on their initial investment – claims that have now been proven to be widely false, with the vast majority of investors experiencing losses of most, if not all of the funds that they deposited. The use of Sam Lee and his previously credible, cryptocurrency related public profile was a cleverly calculated move designed to instil trust in potential victims of what is now described as a prolific Ponzi scheme. It is believed that HyperVerse predominantly preyed on prospective victims in the UK, America and Australia, although there are victims the world over. In recent days, it has begun to emerge that the scheme also sought to target developing countries including Nepal andGhana, with many victims in these emerging economies being left so distraught at their losses that they became suicidal.
Whilst Lee was a founder of the scheme, he and other founders actively encouraged participants to recruit others into the scheme using the same false promises of returns, with members already in the scheme being offered financial rewards for convincing others to buy in …