SEC Charges Hydrogen Tech. And its Former CEO for Market Manipulation
Published in
2 min readOct 5, 2022
On September 28th, the United States Securities and Exchange Commission (SEC) announced that it was charging The Hydrogen Technology Corporation, its former CEO, Michael Ross Kane, and the CEO of Moonwalkers Trading Limited for their roles in carrying out the sale of an unregistered securities offering of the Hydro Tokens.
The SEC further charged them ‘for perpetrating a scheme to manipulate the trading volume and price of those securities, which yielded more than $2 million for Hydrogen.’
In this article, we explore the following:
- How Hydrogen Technologies hired Moonwalkers Trading to manipulate Hydro token’s liquidity and price
- How market manipulation is common in crypto and NFT trading, even being carried out by retail investors using sniper bots
- How the OMNIA protocol offers frontrunning protection for its token holders
- More on the OMNIA token launch and how the team plans to mitigate against market manipulation and price volatility in the initial days of the token going live
Please read all about it in our blog article through the link below.
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