I did a review on Hyperfund a little while back and many of their affiliates and investors argued tooth and nail that it is 100% legit. Many affiliates are swearing that Hyperfund’s due diligence report and ASIC registration makes them legal and legitimate.
But I beg to differ.
Hyperfund creates a ‘Due Diligence’ report in hopes to create legitimacy of their platform.
Main Parties involved:
- Collinstar Capital
- Blockchain Global
- HCash Foundation
- Blockchain Centre (Also Founded By Ryan & Sam Lee)
Yes they are indeed registered with the ASIC (Australian Securities Regulator).
But this is meaningless and even worthless.
Because registration with the ASIC does not mean that Hyperfund is backed by or even ‘endorsed’ by the ASIC.
Back in March there was a very popular Ponzi Scheme (created by Russian Scammers) that pretended to be located in Canberra Australia.
But when reviewers started researching them, Beurax was located in Australia in name only.
Yes Beurax was indeed registered with the ASIC but after Beurax exit scammed, Billions of dollars were lost be hopeful investors and the ASIC issued a fraud warning ‘against’ Beurax after their website went offline:
Suspicious website alert: beurax.com
16 March 2021
ASIC is alerting investors about a suspicious investment opportunity – Beurax Corporation Pty Ltd (ACN 643 681 654) and its website, beurax.com.
The Beurax website promoted a trading platform and deposit plans and offered unrealistically high and ‘guaranteed’ returns.
Do not transfer funds or further funds to Beurax.
ASIC has received reports predominantly from overseas investors who invested with Beurax via beurax.com, who are now unable to withdraw their investments. Beurax has stopped communicating with those investors.
Beurax promoted deposit plans and claimed investors could earn returns from 1.4% per day on their investments. This is currently an unrealistically high rate of daily return and a warning that the investment is highly speculative and high risk.
Beurax accepted crypto-assets (or cryptocurrencies) as payment. It is difficult to trace these payments and consumers do not have the same protections as they would if they paid by other means, for example if they paid by credit card where a chargeback may be available.
Company registration is a not a guarantee
Beurax is a registered company. Company registration does not mean a business is viable or that a business model is sound.
Information about what to consider before investing is available on ASIC’s Moneysmart website.
What to do if you invested with Beurax
ASIC is warning consumers against dealing with Beurax. Do not transfer further funds to this entity – even if it is to ‘withdraw funds’.
You do not need to lodge a report with ASIC as we have sufficient information at this time.
ASIC is unable to assist in recovering your funds. Contact your financial institution to see if they can assist in tracing payments made. However, when payments are made via crypto-assets, the likelihood of recovering money may be diminished.
So as you can see coming from the ASIC themselves, registration with them does not ‘ensure’ that investors will not get scammed.
ASIC allowed a Russian Ponzi Scheme called Beurax (that originated in Russia) that was not even physically operating out of Australia to register with them.
Then once Beurax Exit Scammed (and investors lost Billions collectively), ASIC covers their own butt and issues a BS Investors Fraud Warning (after people lost a ton of money).
Hyperfund is a ponzi scheme that shows no evidence of ‘any’ revenue outside of Network Marketing Recruitment.
Once Recruitment dies out, Hyperfund will collapse, most investors will lose money and the owners will run off with the Lion’s share of everyone’s funds paid in Crypto.
It’s a mathematical certainty.
Rory Singh is a Home Business Development Coach, Blogger and You Tube Publisher
I have seen many people, companies and systems come and go in my years online. I have 3 decades of experience in the MLM industry (since the 80’s) and have been online since 2006 (as an affiliate marketer).
I have been doing Reviews since 2013.
If you are still looking for a way to create a full time income and ‘willing’ to learn some marketing, then feel free to take a look at: