TL;DR
- Sam Lee, the founder of the HyperVerse crypto pyramid scheme, has been seen promoting a new crypto project called VEND online.
- VEND is a series of livestreams where participants can promote their crypto projects to potential investors.
- Despite the serious charges against him, Lee did not explicitly reference them in his video. Instead, he vaguely discussed the universal language of maths and how it can make us all equal.
In a surprising turn of events, Sam Lee, the founder of the infamous HyperVerse crypto pyramid scheme, has been seen promoting a new crypto project online, mere hours after being charged with misappropriating $1.7 billion in investor funds.
On January 29, the Securities and Exchange Commission (SEC) accused Lee and HyperVerse of fraudulently promoting lucrative returns on crypto schemes that relied on funds taken from investors. Despite these serious allegations, Lee appeared in a Facebook video the following day, promoting his new South African crypto venture, VEND.
In the 70-minute-long video, Lee, who is now the CEO of VEND, claimed that things can only get better for him. He also stated that the worst thing is people lying to regulators and regulators believing their version of the story. Lee warned potential investors not to be in the mindset of loss.
VEND: A New Crypto Venture Amidst Controversy
Lee’s new project, VEND, is a series of livestreams where participants can promote their crypto projects to potential investors. Most projects on VEND rely on Tether (USDT). One such project, called 369 Era, offered subscription packages that could supposedly turn 27,000 USDT into a maximum return of 162,000 USDT, a 500% increase.
Despite the serious charges against him, Lee did not explicitly reference them in his video. Instead, he vaguely discussed the universal language of maths and how it can make us all equal. He encouraged viewers to believe in maths, bitcoin, blockchain, and the consensus around that.
The Guardian noted that no advertisers have been named for VEND, despite claims that advertisers generate revenue for the project. This raises questions about the legitimacy of the project and its promised returns.
This incident serves as a stark reminder of the risks and uncertainties in the crypto world. As always, potential investors are advised to exercise caution and conduct thorough research before investing in any crypto project.
