5 charged by DOJ over alleged crypto price manipulation scheme
Five people have been charged in relation to alleged market manipulation of an Ethereum-based token called “Hydro.” A freshly unsealed indictment has charge d five individuals with “conspiring to manipulate the market” in relation to an alleged scheme involving the ERC-20 Hydro (HYDRO) token. An April 24 statement from the United States Department of Justice (DOJ) said the indictment charge d three people for conspiring to manipulate the market for Hydro. Two other individuals were separately charge d for their roles in the scheme . The DOJ alleges that from June 2018 through April 2019, Michael Ross Kane, the former CEO of Hydrogen Technology Corp., Shane Hampton, Hydrogen’s chief of financial engineering and George Wolvaardt defrauded market participants looking to trade the Hydro tokens Hydrogen issued. Five Individuals Charged in $2M Virtual Asset and Securities Manipulation Schemehttps://t.co/qLrHjkTKlY — Criminal Division (@DOJCrimDiv) April 24, 2023 According to the in...