The world of cryptocurrency has been rocked by the recent news of five individuals being charged with criminal conspiracy to manipulate the price of HYDRO token, an Ethereum-based token. Meanwhile, four wallets reportedly have purchased billions of Shiba Inu coin. Looking to finally debut in the market is SignUpToken.com, having recently welcomed 5000 members, and now swiftly approaching its launch. Read on to know it all!
Ethereum’s HYDRO Tweaked, 5 Accused
Five individuals have been accused of participating in a criminal conspiracy to manipulate the market in relation to the Ethereum-based Hydro (HYDRO) token, according to a recently unsealed indictment. Three of the defendants, Michael Ross Kane, Shane Hampton, and George Wolvaardt, are accused of defrauding market participants who wanted to trade the Hydro tokens. The Department of Justice (DOJ) alleges that from June 2018 to April 2019, the three defendants artificially manipulated the price of Hydro by executing "spoof orders" and wash trading. According to the indictment, Wolvaardt designed a trading bot that executed high-value spoof orders at random intervals to create the illusion of high demand for the token. The bot also bought and sold large volumes of the token from the same account.
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Following the alleged market manipulation, the co-conspirators sold significant portions of their holdings, netting approximately $2 million in illicit profits. In addition, Tyler Ostern and Andrew Chorlian were also charged for their involvement in the scheme. If convicted, the defendants face prison sentences of up to 20 years on each of the charges. A New York District Court Judge also recently ordered Hydrogen Technology Corporation and its former CEO Michael Ross Kane to pay $2.8 million in remedies and civil penalties in a separate lawsuit brought by the Securities and Exchange Commission (SEC).
Anonymous Whales Hoard Shiba Inu
According to data from Etherscan, anonymous whales have transferred just under 5 billion Shiba Inu (SHIB) meme coins within the past hour. It is believed that these transfers were either purchases or redistributions to newly opened addresses. These whales seem to be acquiring a large amount of Shiba Inu. There were four transactions detected, with each carrying 1.06 billion, 4.9 billion, and two of them moving 1.2 billion SHIB. One of the 1.2 billion SHIB transfers was a definite purchase as it was moved from the OKX exchange to an anonymous address. Most of the wallets that received the SHIB still hold the coins they bought and nothing else, indicating they are new wallets. One of the wallets that bought 1.2 billion Shiba Inu is currently holding a total of 5,461,811,212 SHIB, while another sold its purchased SHIB coins immediately.
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SignUpToken.com Crosses 5K Mark, Launch Imminent
Signuptoken.com is a new blockchain project that offers a decentralized finance approach and has a unique DeFi system that aims to create a million millionaires. The project's main feature is its "presale," which is free for users who sign up with their email address.
The Millionaire Club offers users access to the project's benefits. The project has gained popularity globally, recently having garnered 5000 sign-ups and it only keeps growing. The project revolves around an ERC-20 token, indicating its technological advancement. Users will receive email notifications about the token's launch and when Signuptoken.com launches its own Uniswap exchange.
The platform also rewards users for inviting others through a referral system. With a focus on community building and long-term growth, Signuptoken.com could be a game-changer in the cryptocurrency industry.
The crypto industry is always buzzing with activity, and changes are bound to happen. The HYDRO-trends manipulation debacle reiterates the importance of regulation of the crypto market, while the spontaneous purchase of SHIB raises a question on the identity of wallet owners. Users are advised to consider SignUpToken.com, taking into account their user-centric features and their goal for safety, affordability and efficiency. With a community that keeps growing, this is a coin that is here to stay.
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For More Info on Signuptoken.com:
Website: https://www.signuptoken.com
Twitter: https://twitter.com/_SignUpToken
Telegram: https://t.me/SignUpToken
