Hyperverse has received a securities fraud warning from the British Columbia Securities Commission (BCSC).

As per the BCSC’s October 18th, 2024 warning;

HyperVerse claims to offer trading services for stocks, options, and ETFs.

We are aware that HyperVerse accepts British Columbia (BC) residents as clients.

HyperVerse is not registered to trade in, or advise on, securities or derivatives in BC.

Hyperverse offering unregistered financial services to BC residents constitutes securities fraud.

Hyperverse, launched in late 2021, was the short-live successor to the HyperFund Ponzi scheme.

Following a final cash grab in March 2022, Hyperverse went on to collapse. Plagued with withdrawal issues from day one, technically Hyperverse collapsed the moment it launched.

HyperFund and Hyperverse co-founder Sam Lee was indicted in January 2024. The SEC has also filed HyperFund civil fraud charges.

Lee remains a wanted fugitive hiding in Dubai. HyperFund co-founder Ryan Xu disappeared when HyperFund collapsed in 2021. He hasn’t been seen in public since.

If you’re wondering why the BCSC is issuing a Hyperverse securities fraud warning two and a half years after it collapsed, you’re not alone.

As best I can figure the Hyperverse BCSC have cited is a recovery scam.

The Hyperverse in BCSC’s fraud warning operates from “hyperefunds.net”, privately registered on January 18th, 2023.

The domain is a clone of Hyperverse’s original website hosted on its own domain. The only links that work on the “new” Hyperverse website are Telegram and an on-site chatbot.

It’s likely these are monitored by scammers, hoping to fleece Hyperverse victims with promises of recovery.

It is highly unlikely Hyperverse cited in BCSC’s fraud warning has anything to do with the original 2021 Hyperverse Ponzi scheme.