Big promises, bigger deception. Braden Karony, former CEO of the once-hyped crypto project SafeMoon, has been found guilty by a U.S. federal jury of running a fraudulent scheme that misled investors and diverted millions of dollars for personal gain.

⚖️ Guilty on All Charges

After a 12-day trial, a federal court in New York found Karony guilty of conspiracy to commit securities fraud, wire fraud, and money laundering.

He now faces up to 45 years in prison, and has also been ordered to forfeit assets worth over $2 million, including luxury homes, vehicles, and cryptocurrency holdings.

💸 How the Scheme Worked

SafeMoon, launched in 2021 with a 10% transaction tax model, quickly rose to fame — boasting a market cap of over $8 billion at its peak. But behind the scenes, the truth was far from what was advertised.

🔹 Karony and his team claimed that half the fees would be locked in a liquidity pool and the other half redistributed to token holders.

🔹 In reality, they retained access to the liquidity funds, siphoned them off, and used them for personal luxury.

🔹 They also traded SafeMoon tokens privately, even during peak prices, despite publicly denying any such activity.

🏎️ Crypto-Funded Teslas and Mansions

According to court evidence, investor funds were used to purchase:

🔹 luxury cars like an Audi R8, a Tesla, and custom trucks

🔹 high-end properties

🔹 transfers routed through anonymous wallets and unhosted exchange accounts

Authorities estimate that Karony personally pocketed over $9 million in crypto assets. The case was investigated by the FBI, IRS, and other federal agencies.

⚠️ SafeMoon – From Skyrocketing Token to Cautionary Tale

What began as a promising crypto project became a textbook example of how fast hype can turn into legal fallout.

Federal prosecutors said the case deeply damaged public trust in digital assets and highlighted the urgent need for greater oversight in the crypto industry.

One co-defendant, Thomas Smith, has pleaded guilty and awaits sentencing. Another, Kyle Nagy, remains at large.

📌 The Takeaway

SafeMoon was marketed as a “safe journey to the moon” — but it ended in a brutal crash landing, complete with FBI raids, IRS investigations, and a federal conviction. The message to the crypto world is clear: transparency and accountability are not optional — they’re essential.


#Safemoon , #CryptoFraud , #CryptoNewss , #CryptoScamAlert , #CryptoCrime



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