Kathmandu: Nepalis have lost billions of rupees to the online networking scam HyperFund, affecting individuals both domestically and internationally. On December 25, 2021, Baburam Kandel from Butwal joined HyperFund after a friend's suggestion, investing initially $1,000. Drawn by initial returns, Kandel eventually invested $10,000, only to lose his savings and those of others he convinced to join. HyperFund scammers continue to exploit Nepalis under various schemes such as 'SBG Global,' MMIT, and V-TABS.

Ranjana Shrestha, a Nepali nurse in the UK, also fell victim, losing millions of rupees and involving her family and friends in the scam. Convinced by a trusted friend, Shrestha persuaded others to invest, believing in HyperFund's promises. Despite checking the website regularly, she could not withdraw any funds. Shrestha now collaborates with other victims, seeking justice and raising awareness about the emotional and financial impact of such scams.

DB Thapa, a civil engineer in Dubai for 20 years, filed a complaint with Nepal's Central Investigation Bureau (CIB) after losing Rs 1.95 million to HyperFund. He realized it was a scam in April 2022 when withdrawals were suspended. Thapa identified Nepali nationals Devi Pokhrel and Lalit Kumar Neupane as key figures behind the fraud, estimating that Nepalis globally have lost over Rs 700 billion. Thapa and other victims regularly meet online to support each other and campaign for justice.

The CIB has arrested Nanu Ghimire from Lalitpur, accused of fraud under HyperFund. Victims are encouraged to lodge complaints online through the CIB's website. The CIB has received complaints totaling over 79 million USD from 56 individuals. Despite the involvement in illegal activities, victims are assured they will not be treated as defendants.

Nepal Rastra Bank has declared all forms of virtual currency, cryptocurrency, network marketing, and HyperFund illegal in Nepal. It warns that any involvement in such activities will result in legal action, urging the public to stay vigilant and avoid these fraudulent schemes.