HyperVerse Crypto Fund’s Chief Executive Nonexistent

An investigation into the collapse of HyperVerse crypto fund, has revealed that the supposed CEO, Steven Reece Lewis, may not exist. The company had claimed that Lewis had an impressive list of credentials, but no organization on that list could find any record of him. This revelation raises questions about the legitimacy of the fund and the due diligence conducted by its promoters.

HyperVerse had used Lewis to promote the fund, alongside celebrity messages of support, as part of a push to recruit new investors into the scheme. The collapse of the fund has left investors questioning the credibility of the company and its management. The investigation into the circumstances that led to the collapse of the crypto venture fund has determined that there are serious issues with the legitimacy of the CEO, which could be the reason for the fund’s failure.

Key Takeaways

  • The supposed CEO of HyperVerse, Steven Reece Lewis, may not exist, raising questions about the legitimacy of the fund and the due diligence conducted by its promoters.
  • The investigation into the collapse of the crypto venture fund has determined that there are serious issues with the legitimacy of the CEO, which could be the reason for the fund’s failure.
  • The collapse of HyperVerse crypto fund has left investors questioning the credibility of the company and its management.

The Collapse of HyperVerse Crypto Fund

Investigation into the Disappearance

The collapse of HyperVerse, a suspected pyramid scheme, has left many investors and creditors with significant losses. The scheme was promoted by a Chief Executive Officer, Steven Reece Lewis, who claimed to have impressive qualifications. However, an investigation by the Guardian Australia found that Lewis did not appear to exist and that his claimed qualifications had no basis.

The investigation also revealed that HyperVerse was not registered with the Australian Securities and Investments Commission (ASIC), which has faced questions over its failure to warn consumers about the scheme. The liquidator appointed to investigate the collapse of HyperVerse is currently attempting to recover assets for investors and creditors.

Impact on Investors and Creditors

The collapse of HyperVerse has had a significant impact on investors and creditors, who have suffered significant losses. The scheme was marketed as a high-return investment opportunity, with celebrity endorsements used to attract new investors. However, the investigation by the Guardian Australia found that the scheme was selling “worthless investments” and that investors were unlikely to recover their losses.

The collapse of HyperVerse has also raised questions about the regulation of cryptocurrency investments. The lack of oversight and regulation has made it easier for scammers to take advantage of unsuspecting investors. The collapse of HyperVerse serves as a warning to investors to be cautious of investment opportunities that appear too good to be true.

In conclusion, the collapse of HyperVerse has left many investors and creditors with significant losses. The investigation into the scheme has revealed that it was a suspected pyramid scheme and that the Chief Executive Officer, Steven Reece Lewis, did not appear to exist. The collapse of HyperVerse should serve as a warning to investors to be cautious of investment opportunities that appear too good to be true.

Background and Analysis

HyperVerse Crypto Fund

Profiles of Key Figures

The collapse of HyperVerse. A crypto fund that reportedly collected around $1.3 billion in 2022, has been making headlines recently due to the discovery that its CEO, Steven Reece Lewis, may not exist. The man introduced as the CEO of HyperVerse appears not to exist, at least not as the man with a long and impressive list of credentials the company cited. No organization on that list could find any record of him.

Sam Lee is the founder of Blockchain Global. Ryan Xu a former executive at Blockchain Global, was also a key figure in the HyperVerse story. Lee was a major investor in the fund, while Xu was reportedly one of its top traders. Both Lee and Xu have been the subject of regulatory scrutiny in the past.

Regulatory Response and Legal Scrutiny

The Australian Securities and Investments Commission (ASIC) has been investigating HyperVerse since at least 2022. The regulator has reportedly been looking into whether the fund was operating in compliance. The Corporations Act governs how companies can raise money from investors.

Chainalysis, a blockchain analytics firm, has also been involved in the investigation. The firm’s analysis reportedly showed that HyperVerse. The most successful alleged crypto scam of 2022. Collecting around $1.3 billion from investors.

The collapse of HyperVerse has raised questions about the regulatory response. To cryptocurrency scams and the need for greater legal scrutiny of the industry. Some experts have called for stronger regulations to prevent similar scams from happening in the future.

By Jastra Kranjec

Jastra is an author at CryptoPresales. Over the years, she has worked in different fields of journalism and public relations, including politics, economy, crypto, and financial markets.