In a shocking revelation, the cryptocurrency fund that recently faced allegations of creating a fake CEO has taken an even more dramatic turn. The fabricated executive, purportedly named Steven Reece Lewis, presented an impressive CV that may have lured investors into the scheme. However, an investigation by The Guardian has revealed that there is no record of Lewis ever existing.
This startling revelation adds a new layer of complexity to the scandal surrounding the crypto fund. Investors, drawn in by the illusion of a capable and experienced leader, now find themselves grappling with the fallout of a collapsed venture. The HyperVerse, once touted as a promising investment opportunity, has reportedly lost a staggering $1.3 billion of investors’ funds.
Chief executive of collapsed crypto fund Hyperverse does not appear to exist https://t.co/9daQLqBoKM
— Guardian Tech (@guardiantech) January 3, 2024
The situation highlights the vulnerability of investors in the crypto space and underscores the need for heightened diligence. With the absence of regulatory frameworks, fraudulent activities can have severe consequences. Industry experts are urging a collective effort to establish more robust safeguards to protect investors from such deceptive practices.
As the investigation unfolds, the crypto community is left to ponder the implications of this high-profile collapse. The incident serves as a stark reminder that, despite the potential for substantial returns, thorough due diligence is paramount in navigating the volatile cryptocurrency landscape.
