Coinspeaker
US DOJ Sentences Former Executives for Multimillion-Dollar Crypto Fraud
Shane Hampton, a 32-year-old resident of Philadelphia, and Michael Kane, a 39-year-old from Florida, have received prison sentences of 11 months and three years and nine months, respectively. Both men were top executives at Hydrogen Technology Corporation. Kane, who is also the co-founder of the company, served as its CEO until his arrest for fraud in 2022, while Hampton, a software engineer, was the head of financial engineering at the firm.
Manipulating the Market
According to a recent announcement, both men were involved in market manipulation that defrauded multimillion dollars from investors who trusted the company’s vision and invested in HYDRO, its native crypto.
Between October 2018 to April 2019, the duo enlisted the help of a South African crypto company dubbed Moonwalkers Trading Limited to manipulate the price of HYDRO on an unnamed crypto exchange registered in the United Sta
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