HYPERVERSE CEO Plays Hide & Seek As Company Collapses

The collapse of the bitcoin company Blockchain Global, led by Australian entrepreneur Sam Lee and his partner Ryan Xu, birthed HyperVerse, now under international scrutiny for its alleged pyramid scheme structure.

At the core of the controversy lies Steven Reece Lewis, introduced as HyperVerse's CEO during an online launch. Despite touting impressive credentials, an investigation by Guardian Australia unearthed discrepancies and false assertions about Lewis's educational and professional history.

The absence of any records of Steven Reece Lewis at reputable institutions like the University of Leeds and the University of Cambridge, along with a lack of presence in official registries such as Companies House in the UK or SEC filings in the US, raises skepticism. Additionally, major corporations like Adobe and Goldman Sachs have no trace of his employment.

Lewis's online footprint seems confined solely to HyperVerse, marked by a Twitter account initiated just a month before the scheme's launch, which went inactive six months later. Such unverifiable background information casts doubts on his professed qualifications and involvement in HyperVerse.

The scheme's credibility was bolstered by promotional videos featuring endorsements from high-profile figures like Apple co-founder Steve Wozniak, actor Chuck Norris, comedian Jim Norton, and singer Lance Bass. However, these endorsements were likely secured through the paid platform Cameo.

Sam Lee, initially linked to HyperVerse, refutes involvement in the scheme, especially regarding its transition to HyperNation. His precise role in founding and running HyperFund and HyperVerse remains ambiguous, as he has not addressed queries seeking clarification.

Blockchain Global, co-founded by Lee and Xu, faces a $58 million debt to creditors, prompting a regulatory audit by the Australian Securities and Investments Commission (ASIC). Despite concerns raised about HyperVerse, ASIC currently indicates no immediate regulatory action, a decision questioned as the scheme has been flagged by overseas regulators.

HyperVerse, pitched as a revolutionary digital metaverse, aimed to rival Facebook's virtual domain, claiming to transform global interactions and business operations. Promising substantial returns – a minimum of 0.5% daily, totalling a 300% return over 600 days – and offering incentives for member recruitment, HyperVerse adopted common tactics seen in pyramid schemes.

However, despite these enticing assurances, the analysis firm Chainalysis estimated losses to HyperVerse in 2022 at approximately $1.3 billion.