HyperTech’s HyperFund cops securities fraud warning from UK
HyperFund has received a securities fraud warning from the UK’s Financial Conduct Authority.
HyperFund is part of HyperTech, owned by Ryan Xu.
As per the FCA’s March 23rd HyperFund warning;
We believe this firm has been providing financial services or products in the UK without our authorisation.
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.
However, some firms act without our authorisation and some knowingly run investment scams.
This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.
Curiously the website domain the FCA cite for HyperFund (“thehyperfund.online”), has been parked.
HyperFund operates from “thehyperfund.com”. Alexa traffic analysis shows interest beginning late January 2021.
Alexa pegs the US as the largest source of traffic to HyperFund’s website (52%). Nigeria (18%) and Canada (12%) follow.
Neither HyperFund, Ryan Xu or any of his other companies are registered to offer securities in the US.
BehindMLM came across Xu in our January 2020 HyperCapital review.
HyperCapital, a Ponzi scheme, was Xu’s attempt to resurrect the failed HCASH shitcoin.
HyperCapital’s website is no longer accessible and the Ponzi scheme seems to have collapsed.
HyperFund, according to its website, is Xu’s transition to DeFi scamming.
HyperTech Group has launched the HyperFund – Ogilvy Plan to build a DeFi (Decentralized Finance) ecosystem.
For all intents and purposes, HyperFund appears to be the successor to Xu’s failed HyperCapital Ponzi scheme.
I’ve done some research into HyperFund and will be publishing a review shortly.
Update 10th April 2021 – BehindMLM’s HyperFund review is now live.
Update 21st September 2021 – The FCA has added HyperFund’s homepage to its securities fraud warning.