Hydro

April

There are many lawsuits against the cryptocurrency industry in the USA. While new cases are being added, decisions continue to be made in existing cases. 
Accordingly, the US Department of Justice (DOJ) said in a statement that two former executives of Hydrogen Technology were sentenced to prison for manipulating the price of HYDRO, the company's cryptocurrency, and defrauding investors. 
In the DOJ statement, Hydrogen co-founder and former CEO Michael Kane was sentenced to 3 years and 9 months in prison; He stated that the company's senior manager, Shane Hampton, was sentenced to 2 years and 11 months in prison. 
Citing court documents, the DOJ alleges that Hydrogen executives Kane and Hampton worked with Moonwalkers Trading Ltd. in South Africa to manipulate the price of Hydro tokens on a U.S. cryptocurrency exchange. He said that he hired an external firm called and made fake trades of over $7 million in Hydro tokens through bots. 
<blockquote> 
 “Between October 2018 and April 2019, Kane, Hampton, and their collaborators executed approximately $7 million in “fake trades” for HYDRO via bots. 
 These manipulative trades were designed and executed to fraudulently induce retail investors to purchase HYDRO. 
 “Kane, Hampton and their collaborators made a profit of approximately $2 million selling HYDRO over approximately 10 months through artificially inflated prices resulting from their manipulation efforts.” 
</blockquote> 
“Shane Hampton, Michael Kane, and their collaborators defrauded investors by using a trading bot to manipulate the price of Hydro,” Assistant Attorney General Nicole M. Argentieri, chief of the Justice Department’s Criminal Division, said in the statement. 
“The Hampton v. Kane case was the first criminal jury trial in which it was determined that a cryptocurrency was a security and that manipulating cryptocurrency prices was securities fraud,” he said. 
In September 2022, the SEC accused Hydrogen and its managers, Hampton and Kane, of market manipulation through Hydro from 2018 to 2019. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/penalty-from-the-usa-to-the-founder-of-this-altcoin-it-was-the-first/">Penalty from the USA to the Founder of this Altcoin! "It Was the First!"</a>

Penalty from the USA to the Founder of this Altcoin! "It Was the First!"

Bitcoin Sistemi EN

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