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Two individuals, Xue Lee (aka Sam Lee) and Brenda “Bitcoin Beautee” Chunga, are facing charges from the U.S. Securities and Exchange Commission (SEC) for their alleged role in a $1.7 billion cryptocurrency fraud scheme associated with HyperFund, HyperVerse, and HyperTech. The SEC claims that the duo, who operated under various names, promised investors a Hong Kong stock exchange listing and employed an actor based in Thailand as the firm’s CEO during its launch in 2021.





The complaint accuses Lee and Chunga of promoting membership packages to investors, falsely guaranteeing high returns from cryptocurrency mining operations. The ill-gotten gains were allegedly utilized to purchase luxury cars, condos, and fund crypto wallets. Chunga has agreed to settle charges and pay civil penalties, while both she and Lee face additional charges from the U.S. Attorney’s Office for conspiracy to commit securities fraud and wire fraud. Chunga has pleaded guilty to these criminal charges.






The SEC highlights Lee’s claim that HyperTech aimed to list on the Hong Kong Stock Exchange by 2022, and alleges that the pair circulated fake screenshots of media appearances to enhance the firm’s reputation, including mentions on CNN and an Amazon Prime documentary titled “Next: Blockchain.”


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