![]() ![]() ![]() Relatedly, Tyler Ostern, 29, of Coos Bay, Oregon, the former CEO of Moonwalkers, and Andrew Chorlian, 29, of New York, New York, a blockchain engineer at Hydrogen Technology, were also charged for their participation in the scheme. Wolvaardt was the Chief Technology Officer for Moonwalkers Trading Limited, a self-described “market-making” firm that purportedly designed the trading bot and was hired by Kane and Hampton to manipulate the market for HYDRO. The defendants allegedly used a trading bot to place thousands of orders that they did not intend to execute, or “spoof orders,” and thousands of orders where the bot bought and sold tokens to itself through the same account, or “wash trades.” The co-conspirators allegedly reaped $2 million in profit through their sales of HYDRO at artificially inflated prices.Īs alleged in the indictment, Kane was the co-founder and CEO of Hydrogen Technology and Hampton was the Chief of Financial Engineering for the company. ![]() Two other individuals were also charged in separate charging documents for their roles in the scheme filed in the Southern District of Florida.Īccording to court documents, from around June 2018 through April 2019, Michael Kane, 38, of Miami Shane Hampton, 31, of Philadelphia and George Wolvaardt, 38, of Johannesburg, South Africa, allegedly conspired to manipulate the market for HYDRO, a token on the Ethereum blockchain platform, and defraud market participants by creating the false appearance of supply and demand for HYDRO to induce other market participants to trade at prices, quantities, and times that they otherwise would not have traded. citizens and a South African national with conspiring to manipulate the market for HYDRO, a virtual asset created by the Hydrogen Technology Corporation. An indictment was unsealed today in Miami charging two U.S. ![]()
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