MIAMI (CN) — Two cryptocurrency creators sought reversal of their sentences at the 11th Circuit on Friday, challenging the first federal convictions labeling cryptocurrency as a security and its manipulation as securities fraud.

The case stems from an investigation into Hydrogen Technology, its CEO, Michael Kane, and head of engineering, Shane Hampton, who prosecutors say used automated bots to inflate the price of the company’s Hydro cryptocurrency token and attract investors.

According to the indictment, the bots executed more than $300 million in “spoof trades” designed to induce investment, generating nearly $3 million in profits over a 10-month period in 2017 and 2018.

A federal jury convicted Hampton and Kane in February…