• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Markets Are Going BONKERS! Friday Firestorm! 🚨🔥

2025-07-11

Bitcoin Pushes Higher – $120K Next Milestone in Sight

2025-07-11

Bitcoin $118,000

2025-07-11

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09

    Crypto Risk Management Strategies for Trading (2025)

    2025-07-07
  • Videos

    Markets Are Going BONKERS! Friday Firestorm! 🚨🔥

    2025-07-11

    Bitcoin Pushes Higher – $120K Next Milestone in Sight

    2025-07-11

    Bitcoin $118,000

    2025-07-11

    Crypto Trading Guide: Step-by-Step For Complete Beginners

    2025-07-11

    Bitcoin Shatters All-Time High…Next Stop

    2025-07-10
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Regulation»DOJ Sentences Two US Citizens for Multi-Million-Dollar Crypto Securities Fraud Scheme
Regulation

DOJ Sentences Two US Citizens for Multi-Million-Dollar Crypto Securities Fraud Scheme

2024-06-27No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
DOJ Sentences Two US Citizens for Multi-Million-Dollar Crypto Securities Fraud Scheme
Share
Facebook Twitter LinkedIn Pinterest Email

Two executives of financial technology company Hydrogen Technology received a prison term for their role in inflating the firm’s cryptocurrency, HYDRO.

In a statement, the U.S. Department of Justice (DOJ) says that Hydrogen Technology co-founder and CEO Michael Kane of Miami Beach, Florida and Head of Financial Engineering Shane Hampton of Philadelphia, Pennsylvania were sentenced for orchestrating cryptocurrency securities fraud and wire fraud schemes.

The two men are accused of hiring South African software assisted market making firm Moonwalkers Trading Limited to inflate the price of HYDRO on a US-based crypto exchange using a trading bot that flooded the market with fake and fraudulent orders between October 2018 and April 2019.

The duo and their conspirators then executed approximately $7 million in wash trades and $300 million in spoof trades through the bot and eventually profited approximately  $2 million from selling HYDRO.

The DOJ says the case is the first criminal jury trial that found cryptocurrency to be a security and manipulating cryptocurrency prices is a securities fraud.

“The jury unanimously found that the defendants’ sales of HYDRO constituted investment contracts, making the token a security under federal securities law. Hampton’s case was the first criminal jury trial in which a cryptocurrency was found to be a security.”

Kane was sentenced to a jail time of three years and nine months while Hampton will spend two years and 11 months behind bars.

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X, Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney

See also  'Extra Bullish' On XRP? Crypto Analyst Pinpoints Perfect Timing
citizens Crypto DOJ fraud multimilliondollar Scheme securities Sentences
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto Trading Guide: Step-by-Step For Complete Beginners

2025-07-11

What Is Copy Trading in Crypto? A Beginner’s Guide

2025-07-10

What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

2025-07-09

Korea Goes ALL IN On Crypto: ETFs, Institutions, XRP & More!

2025-07-09
Add A Comment

Leave A Reply Cancel Reply

Top Posts
NFT

NFT Investing Explained for Today’s Market

2023-04-28

NFT NFT investors and artists have had a rough April. Both trading volume and unique…

Bitcoin

Crypto Report Says ‘Alameda Gap’ Is Gone After Bitcoin Rally, What This Means

2024-03-19

In its most recent research newsletter, crypto research firm Kaiko alluded to an ‘Alameda Gap,’…

Altcoins

Decoding SHIB Price Slump Cause

2023-08-20

Amidst a wave of anticipation, the Shiba Inu community found themselves greeted with a surprise…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Markets Are Going BONKERS! Friday Firestorm! 🚨🔥

2025-07-11

Bitcoin Pushes Higher – $120K Next Milestone in Sight

2025-07-11

Bitcoin $118,000

2025-07-11

Crypto Trading Guide: Step-by-Step For Complete Beginners

2025-07-11
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 120,816.37
ethereum
Ethereum (ETH) $ 3,021.33
xrp
XRP (XRP) $ 2.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 698.22
solana
Solana (SOL) $ 166.12
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.201476
tron
TRON (TRX) $ 0.300509
staked-ether
Lido Staked Ether (STETH) $ 3,016.76
bitcoin
Bitcoin (BTC) $ 120,816.37
ethereum
Ethereum (ETH) $ 3,021.33
xrp
XRP (XRP) $ 2.98
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 698.22
solana
Solana (SOL) $ 166.12
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.201476
tron
TRON (TRX) $ 0.300509
staked-ether
Lido Staked Ether (STETH) $ 3,016.76