HyperCapital, HyperFund, and Hyperverse co-founder Samuel Lee (as Xue Lee and Samuel Lee) have created a new Ponzi scheme called StableDAO.

Lee’s participation in a StableDAO webinar on October 17 allowed us to corroborate his involvement.

Lee gave the webcast to Chief Commercial Officer Garrett Blakeslee after a quick introduction.

Blakeslee said he “came into crypto back in 2017” via BitConnect in an interview with the Crypto Revolution Telegram group in January 2021.

Blakeslee was marketing Block Duelers, an NFT Ponzi scheme that had recently imploded, at the time.

StableDAO reportedly started accepting attendees “a few hours” before the webinar on October 17th, according to Blakeslee, after preloading Hyperverse scammers.

We began our mission today, almost two hours ago.

You lucky people may be able to get in on the ground floor with the early participation program and begin making money right away.

StableDAO’s $10 per new investment incentive is an attempt to encourage the recruitment of unsuspecting victims. A $100 bonus is offered to new investors as well.

With a unilevel team, you can earn commissions on both new and returning recruits.

However, you’ll need to have StableDAO “credits” to cash in on any of this.

StableDAO is hosted under the domain name “stable.limited,” which was privately registered on September 28, 2022.

Nicholas Hofgren, who presented StableDAO’s Ponzi scheme, also spoke during the webinar.

We have got memorandums of understanding for refinancing on one of the projects we are involved with. Our investment will provide a profit in as little as three months thanks to this. This brings us great joy.

With the help of a refinancing, we may expect a return of about 33% on our initial investment of 8.5 ringgit per square foot on the property.

In Malaysia, you can pay with ringgit.

The swindle that is StableDAO is cloaked in the language of Wall Street. CitiBank’s involvement is prominently featured on the site, with the claim that:

I can assure you at this time that CitiBank has zero connection to Sam Lee or StableDAO. Not intentionally, at any rate.

The core of the StableDAO Ponzi scheme is recruiting new investors with the promise of high profits that are “supposedly” related to real estate (evidently in Malaysia and elsewhere).

For obvious reasons, this doesn’t pass the “Ponzi logic test.” Why do they require your money if StableDAO has already signed MOUs that will produce 11% every month?

The truth is that StableDAO is a Ponzi scheme, much like every previous “Hyper*” scam perpetrated by Sam Lee.

Lee claims that those who put money into StableDAO will receive a monthly return of 4%.

  • invest over $500,000 and you’ll receive an extra 1% a month
  • invest over $1,000,000 and you’ll receive an extra 2% a month
  • invest over $5,000,000 and you’ll receive an extra 3% a month

For a period of 10 years, all money put into StableDAO will be unavailable for withdrawal.

Webinar participants also heard from Farzam Kamalabadi, the StableDAO’s non-executive Chairman.

The HOO cryptocurrency exchange is owned by Kamalabadi. Since at least the year 2020, HOO has been substantially included in HyperFund and Hyperverse.

Kamalabadi gained from the millions of dollars lost by investors in Sam Lee’s Hyper* Ponzi schemes.

He shared the following information in the hopes of making a profit with StableDAO once more:

So, this hybrid system represents the future of gaming. And finally, there are actual assets and real business processes.

The whitepaper itself is no longer a promise, a feature that was doomed from the start and never delivered.

They eventually suffer a quick death. Of course, that won’t work here. The project cannot be abandoned at this point.

To avoid being apprehended, Sam Lee and his Hyper* associates hid out in Dubai for the first few months of 2021.

Lee and his accomplice, Ryan Xu, ran several fraudulent investment schemes under the names HyperCash, HyperCapital, HyperFund, and Hyperverse.

The Hyperverse has spawned two offshoots, HyperOne and HyperNation. Lee’s involvement in either is murky at best.

More than a year has passed since anyone has seen Xu. Whether or not he is connected to StableDAO is unknown.

Whatever the case may be, Dubai is ground zero for MLM-related criminal activity.

The rules in Dubai are as follows:

Someone from Dubai who approaches you with a multi-level marketing opportunity is likely trying to con you. 

An MLM scheme can be identified by its purported Dubai connections or headquarters. 

StableDAO, Sam Lee, and the company’s executives are not authorized to sell securities in any country.

In this way, StableDAO would be able to back up its marketing promises with audited financial reports for regulators and potential investors.

Since StableDAO is a Ponzi scheme managed by a con artist, no audit or filing has taken place.

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