Miami charging five people in HYDRO manipulation scheme

A South African citizen and two U.S. nationals are among the five individuals charged in Miami for manipulating the HYDRO virtual asset created by the Hydrogen Technology Corporation.

Timeline of Hydro

Two of the individuals charged by the DOJ were previously booked by the U.S. SEC for their roles in effectuating the unregistered offers and sales of HYDRO, which the agency described as crypto securities.

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.

In a major victory for the U.S. Securities and Exchange Commission (SEC), the agency has won a lawsuit against Hydrogen Technology Corp., a California-based company accused of conducting an unregistered securities offering. The company has been ordered to pay $2.8 million in penalties and disgorgement.