The assistant treasurer, Stephen Jones, has questioned why Australia’s consumer watchdog did not issue a consumer warning against the HyperVerse crypto investment scheme in line with a number of overseas regulators. A Guardian Australia investigation has revealed widespread losses to the HyperVerse scheme, which escaped regulator attention in Australia despite one overseas authority warning it was a possible “scam” and another describing it as a “suspected pyramid scheme”. The HyperVerse scheme was run by an organisation called HyperTech. Australian blockchain entrepreneur Sam Lee was chairman of the HyperTech group, while his…
