HYDRO TOKEN
5 Charged for Hydro Token Market Manipulation
The US Department of Justice has charged five individuals for conspiring to manipulate the market in relation to an alleged scheme involving the Hydro (HYDRO) token. The charges include conspiracy to commit securities price manipulation and wire fraud, with potential penalties ranging from five years to 20 years in prison. The alleged manipulation of the Hydro token price resulted in the co-conspirators making an approximate total of $2 million in ill-gotten profits. In addition, Hydrogen Technology Corporation and former CEO Michael Ross Kane were ordered to pay $2.8 million in remedies and civil penalties in a separate case brought by the Securities and Exchange Commission.
Hydrogen Technology Corporation Settles Crypto Manipulation Lawsuit
Hydrogen Technology Corporation and its former CEO, Michael Ross Kane, have settled a lawsuit brought against them by the Securities and Exchange Commission (SEC) for alleged cryptocurrency price manipulation. The settlement requires the firm and Kane to pay $2.8 million in remedies and penalties. The SEC alleged that Kane used Hydrogen's market maker, Moonwalkers Trading Limited, to manipulate the volume and price of its ERC-20 token, Hydro (HYDRO).