The Department of Justice has announced criminal charges against two founders of the HyperFund crypto investment scheme, alleging the massive operation defrauded investors out of $1.89 billion. In parallel civil charges, the SEC accused HyperFund leaders of running an illegal pyramid scheme and falsely promising high yields from crypto mining revenues that didn’t exist. Per statements, HyperFund advertised investment “memberships” that would pay guaranteed passive daily returns using profits from company crypto mining activities. In reality, authorities contend no such mining infrastructure existed.