CEO of defunct crypto fund HyperVerse does not exist
For years, people on social media have been speculating whether Steven Reece Lewis, the CEO of the now defunct cryptocurrency hedge fund Hyperverse, is even real or not. An investigation by The Guardian Australia found that he might have faked qualifications to attract investors. Moreover, the investigation suggests that Lewis might not even exist as a real person. Their findings confirmed that none of the organizations mentioned on his resume have any record of him
HyperVerse worked like a pyramid scheme
Regulators abroad flagged the scheme as a potential "scam" and "suspected pyramid scheme." After facing these accusations, HyperVerse collapsed and then suspended withdrawals. The crypto hedge fund, backed by Australian entrepreneur Sam Lee and partner Ryan Xu, left countless investors with massive losses. Blockchain experts at Chainalysis estimated that consumer losses in 2022 surpassed $1.3 billion (approximately Rs. 10,825 crore).
Investors lured with high returns and incentives for recruitment
HyperVerse offered investors "memberships" with minimum daily returns of 0.5% and a 300% return over 600 days. Members were encouraged to reinvest their earnings and incentives were provided to recruit new members, with referral commissions paid on a sliding scale according to the number of recruits. However, many investors have been left unable to access their funds.
Universities and companies deny any association with Lewis
HyperVerse's promotional materials claimed that Lewis held degrees from the University of Leeds and the University of Cambridge. However, both institutions have confirmed that they have no record of Lewis. Additionally, there are no records of Lewis on the UK companies register, Companies House, or the US Securities and Exchange Commission. Adobe, which was said to have acquired a web development company owned by Lewis, has no record of such an acquisition in its public SEC filings.
HyperVerse used celebrity endorsements to promote itself
Celebrities like Apple co-founder Steve Wozniak, actor Chuck Norris, comedian Jim Norton, and singer Lance Bass shared video messages supporting HyperVerse on X, previously known as Twitter. In a video, Wozniak stated, "I can't wait for the HyperVerse." However, none of the famous endorsers have confirmed ever meeting or speaking with Lewis. There is no indication that they were even aware of HyperVerse's business model when filming the messages of support, as they make no reference to money or investments.
Lewis is a figment of someone's imagination: British journalist
In 2022, British tabloid journalist Andrew Penman expressed concerns about celebrities endorsing Lewis without verifying his identity. Penman wrote, "I suspect that he's a figment of someone's imagination, created to give a false sense of security to this sham." He suggested that influencers like Wozniak, Norris, and Bass were likely "innocently misled" when they agreed to endorse HyperVerse.
