The SEC has charged Hydrogen Technology Corporation, its former CEO Michael Ross Kane, and Tyler Ostern, CEO of Moonwalkers Trading, with securities manipulation and unregistered sales of the Hydro token. The allegations claim that starting in January 2018, Hydrogen created the Hydro token and distributed it through various methods without proper registration. They hired Moonwalkers to artificially inflate the token's market activity using customized trading software, resulting in over $2 million in illicit gains.