HyperTech and related Ponzi schemes have obtained a securities fraud warning from Alberta, Canada.
The Alberta Securities Fee added HyperTech, HyperFund, HyperNation and Hyperverse to its Funding Warning Listing on February seventh.
The ASC advises;
To assist inform and shield traders, the ASC offers an inventory of firms and people that aren’t registered with the ASC and that look like participating in actions that both require registration below Alberta securities legal guidelines or could also be funding scams.
Buyers are inspired to seek the advice of this listing if they’re contemplating investing, particularly if they’re approached with an unsolicited funding alternative.
HyperTech was a Ponzi incubator run by Ryan Xu (Zijing Xu) and Sam Lee (aka Xue Lee).
HyperFund, Hyperverse and HyperNation had been respective collapsed Ponzi schemes launched below HyperTech branding.
As HyperFund took off globally, Xu and Lee fled to Dubai in 2021.
Because the collapse of the HyperTech Ponzi schemes, Lee (proper) and two HyperFund promoters have been indicted. The SEC additionally filed civil fraud fees towards Lee final month.
Sheltered by Dubai’s authorities, Lee continues to defraud customers. Lee’s newest scams are Satoshi Math Membership and VEND.
The host-suspended StableDAO web site was additionally lately introduced again on-line.
Pending his arrest, Lee stays a wished fugitive. The standing and whereabouts of Ryan Xu stays unclear since HyperFund collapsed in 2021.