The Guardian
By Sarah Martin
January 3, 2024
A chief executive officer whose claimed qualifications appear to have no basis in fact was used to promote the HyperVerse crypto fund, alongside celebrity messages of support, as part of a push to recruit new investors into the scheme.
A Guardian Australia investigation last month revealed thousands of people have lost millions of dollars to the HyperVerse crypto scheme, which was promoted by the Australian entrepreneur Sam Lee and his business partner, Ryan Xu, two of the founders of the collapsed Australian bitcoin company Blockchain Global.
Blockchain Global owes creditors $58m and its liquidator has referred Xu and Lee to the Australian Securities and Investments Commission for alleged possible breaches of the Corporations Act. Asic has said it does not intend to take action at this time.