The Alberta Securities Commission (ASC) added HyperTech, HyperFund, HyperNation, and Hyperverse to its Investment Caution List on February 7th, warning investors about potential securities fraud. The regulatory body identified these entities as unregistered and likely operating as investment scams within the province.

The ASC actively maintains this public list to inform and protect Alberta investors from illicit schemes. It specifically flags companies and individuals not registered to conduct securities business under provincial laws. Such listings are made when these entities appear to be engaging in activities requiring registration or when they show characteristics of investment scams. The commission urges investors to check the list before committing any funds, particularly when approached with unsolicited investment opportunities.

HyperTech was established as a Ponzi incubator by its founders, Ryan Xu, also known as Zijing Xu, and Sam Lee, who also uses the name Xue Lee. Under the HyperTech brand, they launched a series of interconnected schemes, including HyperFund, Hyperverse, and HyperNation. All these operations promised high, consistent returns to participants, paid out primarily from new investor money rather than legitimate business activities, a hallmark of a Ponzi structure. Each scheme eventually collapsed, leaving investors with significant losses.

Xu and Lee relocated to Dubai in 202