this post was submitted on 04 Jan 2024
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Chief executive of collapsed crypto fund HyperVerse does not appear to exist (www.theguardian.com)
submitted 10 months ago by oleorun@real.lemmy.fan to c/weirdnews@real.lemmy.fan
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Andy Dufresne is impressed

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[–] MrZee@lemm.ee 8 points 10 months ago* (last edited 10 months ago) (1 children)

The company promised at least 0.5% daily returns and people believed that? It doesn’t even seem like they described in any depth how they were generating those fantastical returns. The article says that investors lost 1.3b USD. I Sure, there are a lot of suckers out there but… 1.3b worth? ?? This shouldn’t shock me, I know.

(Edit: Corrected currency)

[–] chicken@lemmy.dbzer0.com 4 points 10 months ago

A lot of investment in crypto ponzis is by people who know it is a ponzi, but want to roll the dice anyway. Who knows exactly how much.

HyperVerse was promoted at the launch event as a new digital metaverse that would rival Facebook, where members could explore “the new frontier of a galactic universe and bring to life a complete virtual world”.

In the video, Reece Lewis encouraged people to become early supporters of HyperVerse, saying the company would “create a parallel system of existence that will change how people live, how we interact with people around the world, and even how companies and corporations will conduct business”

It does seem they were really pulling for the dum dums though