Who is Sam Lee Crypto and Why are US Authorities After Him?

Feb 12, 2025

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Ibiam Wayas

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Xue Lee, aka Sam Lee Crypto, is an Australian blockchain entrepreneur, who’s popularly heralded as the “crown prince of Bitcoin” in his country, Australia.

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However, the Australian crypto entrepreneur has a problem with the US authorities that reportedly led him to flee to Dubai.

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Sam Lee Crypto promoted a fraudulent crypto asset pyramid scheme known as HyperFund that raised more than $1.7 billion from investors worldwide.

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HyperFund guaranteed investors high returns, including from HyperFund’s supposed crypto mining operations and associations with a Fortune 500 company.

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However, Lee and Chunga knew or were reckless in not knowing that HyperFund was a pyramid scheme and had no real source of revenue other than funds received from investors.

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In 2022, the HyperFund scheme collapsed and investors were no longer able to make withdrawals.

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The SEC unsealed several charges against Sam Lee Crypto. However, Lee denied any wrongdoing, saying there is nothing wrong with multi-level marketing.”

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