Criminal Complaint from SEC to Crypto Project and Market Maker: Alleged Securities Sale and Manipulation

The US Securities and Exchange Commission (SEC) has filed criminal charges against finance and technology company Hydrogen and market maker Moonwalkers Trading for market manipulation and unregistered sale of securities.

In the notice the SEC published on its official website on September 28, Hydrogen and To Moonwalkers Trading unregistered sale of securities and market manipulation reported that he had filed a criminal complaint alleging that they had committed their crimes. Native token of SEC Hydrogen Hydro Token in 2018 reward programs and airdrop directly through the trading platform in order to finance their projects. sales to users claimed he did.

SEC, 2018 January Launching Hydrogen’s Hydro Token starting in May through rewards programs and airdrops distributed to the public if later 2018 October per month Moonwalkers Trading by cooperating with with fraudulent transactions Market view of Hydro Token strong that they use a trading bot that will display their tokens what they sell on the inflated market He claimed.

On the other hand, Carolyn Welshhans, executive branch of the SEC, said that companies’ sales of securities. reward, compensation, promotion and so on The fact that they are giving under the name of methods is the sale of securities. won’t change stated.

The SEC has filed a lawsuit against Hydrogen and its CEO, Michael Kane, as a result of the allegations. fine, permanent injunction and ban from financial markets demanded.

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