Blockchain Global, an Australian crypto business company co-founded by Ryan Xu (aka Zijing Xu) and Samuel Lee (also known as Xue Lee), has collapsed, confirming that Hyperverse’s executives are in hiding.
The HyperFund Ponzi scheme has recently been renamed as Hyperverse. Xu and Lee are also executives at HyperTech, which manages both companies. HyperTech’s owner, Ryan Xu, is the company’s public face.
It was in October that Blockchain Global crashed for the second time. Xu and Lee’s creditors are owed $21 million by the liquidators. It was revealed in a Supreme Court liquidation report published in November by The Age that Millions of dollars’ worth of Bitcoin and Ethereum were among Blockchain Global’s assets. Even though Allan Guo had certified that he had access to Blockchain Global’s cryptocurrency, the credentials required to access it were on a laptop that had gone missing, according to the company.
Guo alleges that his things, including his laptop, were taken while he was in China in late 2019. As of this writing, Guo has not been able to present a police record confirming the theft.
There have been no responses from Lee regarding “further holdings” of Blockchain Global’s bitcoin. Email and WeChat have been used by liquidators to get in touch with Lee. Since its current directors are outside the United States, Blockchain is difficult to reach.
Xu, Lee, and the rest of HyperTech’s senior management escaped to Dubai earlier this year. It was meant to be a HyperFund event conducted in the United States last month, but Xu didn’t show up. Victims of Xu and Lee’s ACX fraud are suing for over $10 million in losses in addition to Blockchain Global liquidation.
Blockchain Global introduced ACX, a crypto bro investment scheme. This building was demolished in February, 2020. HyperTech and the HyperCapital Ponzi scam had already been established by that time.
HyperTech launched HyperFund as a result of HyperCapital’s demise in mid-2020. HyperFund was followed by Hyperverse, an NFT Ponzi scheme disguised as a computer game about space exploration.
The debut of Hyperverse with a Boris CEO actor sparked speculation that Ryan Xu and HyperTech’s leadership had gone into hiding.