@BOMBERuss
The US Securities and Exchange Commission has classified airdrops (free distribution of tokens) as illegal methods of distributing securities in the charges brought against Hydrogen Technology Corporation, its former CEO Michael Ross Kane and CEO of Moonwalkers Tyler Ostern. The SEC's lawsuit states that in 2018, the New York company Hydrogen, which has ceased its work at the moment, created the Hydro #token, and then publicly #distributed it with the help of airdrops, rewards to individuals for promoting the token, employee benefits, as well as in the form of direct sales on crypto platforms. The Commission claims that Hydrogen, after distributing the token, hired the South African firm #Moonwalkers to create a false appearance of market activity in relation to the Hydro token using specialized software. As a result of these manipulations, Hydrogen allegedly made a profit of more than $2 million. #CryptoCurrency #Airdrop #SEC
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