Caution Investors HyperFund / HyperVerse / HyperNation/HyperCommunity – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
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In this comprehensive review, we delve into the dubious world of HyperFund, evaluating its legitimacy and exposing red flags. From false regulatory claims to poor customer reviews, discover why investing in HyperFund may pose significant risks. Explore the platform’s alleged products, services, and the absence of reliable customer support. Unearth the potential pitfalls associated with crypto transactions and understand why caution is paramount in navigating the HyperFund landscape.
HyperFund Review: Is It a Legit or a Scam?
Overview:
HyperFund is a platform that claims to offer high returns on investments in blockchain projects. The platform is operated by HyperTech Group, a Hong Kong-based company that has been involved in several cryptocurrency-related ventures. HyperFund claims to have a team of experts who select and fund promising blockchain projects, and share the profits with the investors. HyperFund also has a referral program that rewards users for inviting others to join the platform.
However, there are many red flags that suggest that HyperFund is not a legitimate investment opportunity, but a Ponzi scheme that uses new investors’ money to pay old investors. In this review, we will examine the regulation and compliance, customer reviews, products and services, location, and customer service of HyperFund, and explain why you should avoid investing in this platform.
Regulation and Compliance:
One of the most important factors to consider when investing in any platform is whether it is regulated and compliant with the laws of the jurisdictions where it operates. Regulation and compliance protect investors from fraud, money laundering, and other illegal activities. They also ensure that the platform has adequate security, transparency, and accountability.
HyperFund claims to be regulated by the Dubai Financial Services Authority (DFSA), the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), and the Monetary Authority of Singapore (MAS). However, these claims are false and misleading. None of these regulators have issued any license or authorization to HyperFund or HyperTech Group. In fact, some of them have issued warnings against HyperFund and its associated entities.
For example, the DFSA issued a warning on 9 June 2021, stating that “The DFSA advises you not to deal with these entities as they are not DFSA Authorised Firms or DFSA Registered Auditors.” The warning also stated that “The DFSA believes that these entities are using false contact details including postal addresses, telephone numbers, and email addresses. They may change these contact details over time. They may also give you details that belong to another business or individual, so the information looks genuine.”
Similarly, the FSRA issued a warning on 14 June 2021, stating that “The FSRA advises you not to deal with these entities as they are not FSRA Authorised Persons or Recognised Bodies.” The warning also stated that “The FSRA believes that these entities are using false contact details including postal addresses, telephone numbers and email addresses. They may change these contact details over time. They may also give you details that belong to another business or individual, so the information looks genuine.”
The MAS also issued a warning on 16 June 2021, stating that “MAS would like to alert members of the public not to deal with these entities as they are not regulated by MAS.” The warning also stated that “MAS believes that these entities are using false contact details including postal addresses, telephone numbers, and email addresses. They may change these contact details over time. They may also give you details that belong to another business or individual, so the information looks genuine.”
These warnings clearly show that HyperFund is not regulated or compliant in any of the jurisdictions where it claims to operate. This means that investors have no legal protection or recourse if they lose their money or encounter any problems with the platform.
Customer Reviews:
Another factor to consider when investing in any platform is customer reviews and feedback. Customer reviews can provide insights into the performance, reliability, and reputation of the platform. They can also reveal any issues or complaints that other investors have faced with the platform.
HyperFund has a very poor customer review rating on Trustpilot, one of the most popular online platforms for reviewing businesses. Out of 101 reviews, HyperFund has an average rating of 2.3 out of 5 stars, with 67% of the reviewers giving it a 1-star rating. Many of the reviewers have accused HyperFund of being a scam, a Ponzi scheme, or a pyramid scheme. Some of the common complaints include:
– Not being able to withdraw their money from the platform
– Not receiving any returns on their investments
– Not getting any response or support from the customer service
– Being pressured or misled by their sponsors or recruiters
– Being blocked or banned from the platform or its social media channels
These reviews indicate that HyperFund is not a trustworthy or reliable platform for investing in blockchain projects. Many investors have lost their money or been disappointed by the platform’s performance and service.
Products and Services:
Another factor to consider when investing in any platform is the products and services that it offers. Products and services should be clear, transparent, and consistent with the platform’s mission and vision. They should also provide value and benefits to the investors.
HyperFund claims to offer two main products: HyperFund Membership Rewards Plan and HyperDrive Membership Rewards Plan. Both plans require investors to buy membership packages using cryptocurrencies such as USDT or HDAO. The membership packages range from $300 to $1,000, and they supposedly entitle the investors to receive daily rewards of 0.5% to 1% of their investment amount. The rewards are paid in HDAO, the native token of HyperFund.
However, there are many problems and inconsistencies with these products and services. First of all, there is no clear explanation or evidence of how HyperFund generates these high returns on investments. HyperFund claims to fund and support various blockchain projects, but it does not disclose any details or proof of these projects. There is no information about the project names, teams, progress, or outcomes. There is also no transparency or accountability in how HyperFund manages and distributes the funds and profits.
Secondly, there is no guarantee or security of the investors’ funds or rewards. HyperFund does not provide any contract, agreement, or terms and conditions for the investors. There is also no escrow, insurance, or audit mechanism to ensure that the funds are safe and secure. The investors have to trust HyperFund and its sponsors or recruiters with their money, without any legal protection or recourse.
Thirdly, there is a high risk of losing money due to the volatility and uncertainty of the cryptocurrency market. HyperFund requires investors to use cryptocurrencies such as USDT or HDAO to buy membership packages and receive rewards. However, these cryptocurrencies are subject to price fluctuations and market risks. The value of USDT or HDAO can change significantly over time, depending on supply and demand, regulation, competition, and other factors. This means that the investors may end up losing money if the value of USDT or HDAO drops below their initial investment amount.
Fourthly, there is a high possibility of being involved in a Ponzi scheme or a pyramid scheme. HyperFund has a referral program that rewards users for inviting others to join the platform. The referral program has multiple levels and tiers, and users can earn commissions and bonuses based on the number and amount of their referrals. However, this referral program is very similar to a Ponzi scheme or a pyramid scheme, where the platform uses new investors’ money to pay old investors, and relies on constant recruitment to sustain itself. Such schemes are illegal and unsustainable, and they usually collapse when the recruitment slows down or stops.
Location:
Another factor to consider when investing in any platform or project is the location and contact details of the platform or project. Location and contact details can provide information about the legitimacy, credibility, and accessibility of the platform or project.
HyperFund, however, does not provide any clear or reliable location or contact details for investors. According to its website, HyperFund is operated by HyperTech Group, which is registered in Hong Kong. However, there is no evidence that HyperTech Group or HyperFund has any physical presence or office in Hong Kong or elsewhere. The website also does not provide any postal address, telephone number, or email address for HyperFund or HyperTech Group. The only way to contact HyperFund is through a web form on its website, which may not be responsive or helpful.
Customer Service:
Another factor to consider when investing in any platform or project is the customer service and support that the platform or project provides. Customer service and support should be responsive, helpful, and professional for investors.
HyperFund, however, does not provide any satisfactory customer service or support for investors. As mentioned above, the only way to contact HyperFund is through a web form on its website, which may not be responsive or helpful. Many customers have reported difficulty or delay in withdrawing funds, lack of communication or support from HyperFund staff, changes or inconsistencies in the terms and conditions of HyperFund, false or misleading information or claims about HyperFund, and technical glitches or errors on the HyperFund website or app.
Conclusion:
Based on the facts and evidence presented above, we can conclude that HyperFund is not a legit investment opportunity, but a scam that should be avoided by investors. HyperFund has no regulation or compliance, no positive or credible customer reviews, no clear or beneficial products or services, no reliable location or contact details, and no satisfactory customer service or support. HyperFund also has many red flags and suspicions of being involved in fraud, money laundering, or Ponzi activities. Therefore, we do not recommend investing in HyperFund or any of its associated entities.
