Serial Ponzi scammer Sam Lee’s response to his criminal indictment is that victims “lied to regulators”.

Lee’s assertion was made on a recent webinar, amid reports Lee is gearing up to launch a new Ponzi.

Lee, as co-founder of the HyperTech series of Ponzi schemes, was indicted last month. The SEC has also filed related civil fraud charges.

As shared by Sian Taylor on the “Hyperverse/Nation/Fund Scam – Now What!?”” FaceBook Group, Lee cites his criminal indictment as “the worst”.

The worst has already happened, so it can only get better from here.

And y’know, when you realize the worst is basically people lying to regulators, and regulators believing their version of the story and uh… making decisions off the back of that.

The DOJ has pegged HyperTech Ponzi losses at $1.89 billion. The SEC has alleged $1.7 billion in losses.

Despite being at the center of HyperTech, Lee has and continues to demonstrate a shocking lack of remorse and accountability.

Separately, on February 4th Sarah Martin of The Guardian reported Lee is promoting VEND and Satoshi Math Club.

After criminal and civil charges were laid against Lee last Monday for his alleged role in the HyperVerse crypto scheme, the 35-year-old Australian has appeared in a promotional video on social media for a different project called VEND, urging people to “not be in the mindset of loss”.

Satoshi Math Club sounds like a continuation of Lee’s collapsed We Are All Satoshi Ponzi scheme.

The purpose of the maths class, or the maths club, is to just make some calculations that predicts the future.

When we’re able to predict the future, we are then able to make calculated bets on how to take advantage of it.

VEND appears to be an attempted spinoff of Lee’s twice collapsed VidiLook Ponzi scheme.

VEND, which stands for Vidilook Effort Never Dies, first appeared around four months ago.

Interestingly, VEND’s website, which now appears defunct, follows the app template used by Chinese “click a button” Ponzi apps.

Not sure what the story is there but VEND seems to have died off in late 2023. It’s possible Lee is trying to resurrect the scam again.


Update 8th February 2024 – VEND’s reboot has been set up on the domain “”, privately registered on September 20th, 2023.

As per the screenshot above, VEND is still operating as an app-based Ponzi scheme.

For the month of January 2024, SimilarWeb tracked just ~870 visits to VEND’s website. 100% of that traffic is attributed to Brazil. /end update


Up until recently Lee was running his various new Ponzi schemes behind StableDAO.

A visit to StableDAO’s website today reveals hosting was recently suspended:

Lee is an Australian national who fled Australia for Dubai in 2021. As of 2024 Lee, who now has an open US arrest warrant out on him, is believed to still be hiding in Dubai.

Lee’s partner in crime, Ryan Xu, hasn’t been seen since HyperFund collapsed in late 2021.