Following suspension of withdrawals round June 2022, the HyperFund and Hyperverse built-in HOO trade has collapsed.
HOO disabling withdrawals in June has meant anybody with funds held within the trade have been unable to entry them.
Shortly after, HOO deserted its social media profiles in early July.
On or round November 18th HOO deleted its web site. Visits to HOO’s web site area now redirect to a message offering contact particulars for Xu Tong Hua.
Who Xu Tong Hua is stays unclear.
HOO , which stands for Hyper Optimum Group, was based by Ruixi Wang (proper) in 2017.
Integration of HOO into Ryan Xu’s and Sam Lee’s HyperFund and Hyperverse Ponzi schemes dates again to not less than 2020.
On the heart of that integration was Farzam Kamalabadi.
Along with working as a defacto cost processor for the Hyper* Ponzi schemes, HOO can be believed to have been the first car Hyper* Ponzi funds have been laundered by.
In September 2021 HOO formally introduced on Kamalabadi as half proprietor and International Government Chairman.
Ruixi Wang, Farzam Kamalabadi and the remainder of HOO govt shareholders are believed to have made off with HOO person account balances.
Whether or not Wang continues to be in Hong Kong or whether or not he’s fled stays unclear.
Kamalabadi, Xu, Lee and the since collapsed Hyper* Ponzi schemes have been/are all primarily based out of Dubai.
Initially primarily based out of Hong Kong, HOO made a giant deal about being
invited by the Royal Household of Dubai to make use of your entire workplace constructing supplied by the Dubai authorities as HOO Alternate’s international operation headquarters, and begin an in-depth and pleasant cooperation with the native authorities.
In October 2021, HOO signalled intent to relocate its “international operation centre” to Dubai.
Dubai’s royal household being tied to fraud isn’t a shock. Over the previous few years Dubai’s authorities have labored exhausting to take care of the emirate’s standing as a cesspool of corruption.
Following a disturbing pattern of scammers flocking to the emirate for defense from regulation enforcement, BehindMLM categorized Dubai as the MLM crime capital of the world.
Testomony to Dubai’s corruption and turning a blind eye to fraud, Kamalabadi and Sam Lee proceed to defraud buyers by StableDAO.
StableDAO is basically a continuation of Lee’s collapsed Hyperverse Ponzi. HyperDAO Traders entrance as much as $5 million on the promise of as much as 7% a month.
Returns are in fact paid in STBL and sSTBL shit tokens, which StableDAO creates out of skinny air as required.
SimilarWeb tracks negligible month-to-month visitors to StableDao’s web site area. Because of catastrophic investor losses and shameless reload scams, investor confidence in Sam Lee and Kamalabadi seems to be non-existent.
Realistically it’s unlikely Chinese language and/or Dubai’s authorities will take motion in opposition to HOO trade. Ditto Xu’s and Lee’s Hyper* and StableDAO Ponzi schemes.
Whole investor losses throughout HOO and the Hyper* scams are unknown however believed to exceed not less than one billion USD.
