03 January 2024

Chief executive of collapsed crypto fund Hyperverse does not appear to exist

For years, rumors spread on social media that Steven Reece Lewis, the chief executive officer of a now-shuttered cryptocurrency hedge fund called HyperVerse, was a "fake person" who "doesn't exist."

After its investigation, The Guardian has confirmed that no organization cited on his resume "can find any record of him."

SAYS WHO? —

Protos

3 hours ago

This alleged $1.3B crypto scam likely faked its own CEO

Crypto hedge fund CEO may not exist; probe finds no record of identity | Ars Technica

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HyperVerse's collapse caused an estimated $1.3 billion in customer losses.

ASHLEY BELANGER - 1/3/2024, 12:55 PM

"...In 2022, a writer for the British tabloid called The Mirror, Andrew Penman, attempted to raise a red flag, noting that all three of the celebrities (Wozniak, Chuck Norris, and Lance Bass) who endorsed Reece Lewis declined to confirm ever knowing him.

"I suspect that he’s a figment of someone’s imagination, created to give a false sense of security to this sham," Penman wrote.
"I can find no record of such a person other than a Twitter account started last year, and HyperVerse has refused to answer my questions about him or even give me an email address so that I can put questions to him directly."

The influencers, as well as HyperVerse leaders like Sam Lee and Ryan Xu, remain silent on Reece Lewis' identity today. None of the famous figures has ever confirmed that they've met or spoken to Reece Lewis, the Guardian reported, suggesting that it was possible that all three may have been hired to do the marketing videos through Cameo. Penman suggested in 2022 that the influencers were likely "innocently misled" when agreeing to endorse HyperVerse. . ."

The Guardian

8 hours ago

Chief executive of collapsed crypto fund Hyperverse does not appear to exist | Cryptocurrencies | The Guardian

The HyperVerse investment scheme is among those that appear to have escaped scrutiny in Australia despite being flagged by regulators overseas, by one as a possible “scam” and another as a “suspected pyramid scheme”.

Investors lose millions as crypto schemes operate unchecked in Australia

Lee has denied HyperVerse was a scam and disputes being its founder. Guardian Australia has not been able to contact Xu for comment.

A man named Steven Reece Lewis was introduced as the chief executive officer of HyperVerse at an online global launch event in December 2021, with video messages of support from a clutch of celebrities released on Twitter the following month, including from the Apple co-founder Steve Wozniak and actor Chuck Norris.

Promotional material released for HyperVerse, which was linked to a previous scheme called HyperFund, said Reece Lewis was a graduate of the University of Leeds and held a master’s degree from the University of Cambridge. A brief career summary of Reece Lewis, which was presented in a video launch for potential investors, said he had worked for Goldman Sachs, sold a web development company to Adobe and launched an IT start-up firm, before being recruited to head up HyperVerse by the HyperTech group. This was the umbrella organisation for a range of Hyper-branded crypto schemes. . ."

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