HyperFund review: is HyperFund a Ponzi scheme?
Innovations in blockchain technology are constantly evolving in the DeFi world. Now, there are many projects inciting investors’ interest in DeFi. But unfortunately, it is also being used for many illicit activities. Some of these projects are based on Ponzi schemes or other crypto scams, making some investors sceptical about their legitimacy.
HyperFund is one such infamous project which is controversial for using multi-level marketing. This platform claims to be a virtual Metaverse having its own currency and ecosystem. However, it seems to run a Ponzi scheme that promises over 400% ROI. Let’s find out what exactly HyperVerse is and what it offers!
What is HyperVerse or HyperFund?
HyperFund, now known as HyperVerse, is a virtual galaxy with multiple planets. According to the website, it covers the themes of time travelling and alien creatures, having a futuristic setting in its game. You can also explore and participate in different activities on this Metaverse as voyagers.
Its whitepaper suggests that it is a decentralised autonomous platform that offers its currency, HVT. Users can indulge in trading, play games, or socialise through V-DAO.
What makes HyperFund doubtful?
Here are some of the reasons why it sounds dubious:
• Its affiliate program promises a massive ROI of 300% if you continue to contribute.
• Many verified HyperFund reviews suggest that the company runs on a Ponzi scheme.
• Its website does not provide much information about the firm’s owners.
• The United Kingdom’s Financial Conduct Authority (FCA) has not registered the company and has directed investors to beware of this unauthorised firm.
• The company is a part of New Zealand’s list of scams maintained by the Financial Markets Authority (FMA).
• As per the information available on the website, it is unclear what services it provides as a DeFi platform.
• Authorities in Guernsey also recognised it to be a controversial firm.
Is HyperFund a scam?
The platform runs a membership reward program. Previously, it was membership 1.0 that offered up to 300% profits in 20 months of investing. However, as the platform has upgraded to HyperVerse, it has introduced Membership 2.0.
This reward program promises 4x rewards. If you invest 300HU, the platform claims to reward you 1200HU. Meanwhile, it also pledges 0.3% daily rewards. And to be part of this reward program, you at least need to invest 125 HU. Moreover, users can earn further rewards when they refer the platform to others.
These profits sound too good to be true. The reviews from the members of this reward program suggest that the company is a scam. Most users complained about not receiving any revenue even after months of investment.
Furthermore, it has been recognised as a scam by the financial authorities of the UK, New Zealand, and Guernsey.
Therefore, HyperFund checks most of the boxes for a Ponzi scheme.
HyperFund/HyperVerse is a scam as it is running a Ponzi scheme according to various sources. It pledges huge profits of up to 400% through its affiliate and referral program. However, the users have reported that the company is not providing any rewards as revenue. Several financial authorities have already recognised it as a scam.
Be warned and beware!
Author: Wasay Ali
I'm a content writer with adequate SEO knowledge. My hobby is to exercise, read and write. My writing experience currently expands to 2 years and I’ve worked on multiple niches, including finance. My versatility and research skills make me the best at what I do: content & SEO writing. I love writing because it pitches in and helps me learn new things daily.