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SEC has taken legal action against HyperFund founders Lee & Chunga, accusing them of operating a fraudulent $1.89B crypto Ponzi scheme. Chunga has settled, while Lee faces additional charges. Chunga allegedly used $3.7M for luxury purchases, and Lee received $140K in crypto. This move underscores regulatory efforts to crack down on large-scale crypto Ponzi scams. Stay vigilant against potential fraudulent schemes in the crypto space. 🚫💻 #SEC #CryptoFraud #HyperFund

SEC has taken legal action against HyperFund founders Lee & Chunga, accusing them of operating a fraudulent $1.89B crypto Ponzi scheme. Chunga has settled, while Lee faces additional charges. Chunga allegedly used $3.7M for luxury purchases, and Lee received $140K in crypto. This move underscores regulatory efforts to crack down on large-scale crypto Ponzi scams. Stay vigilant against potential fraudulent schemes in the crypto space. 🚫💻 #SEC #CryptoFraud #HyperFund

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